Holy Taxiarhai &Saint Haralambos

Greek Orthodox ChurchOur Phase III Expansion Project

May 23, 2018

A Few Things to Think About

• A 2015 research study found that in the U.S., the number of adults who identify themselves as Christians fell by almost 10% in the past seven years.

• 78.4% (2007) to 70.6% (2014)

• In the age group from 18 to 29, 36% have no religious affiliation.

Source: http://www.pewforum.org/2015/05/12/americas-changing-religious-landscape/

How About Greek Orthodox Christians?

• Statistics compiled by the Greek Orthodox Archdiocese of America from 1996 to 2014 show:

• The number of Baptisms dropped by over 19%• 7,155 (1996) to 5,816 (2014)

• The number of Weddings dropped by over 38%• 3,855 (1996) to 2,400 (2014)

• Sadly, the number of Funerals increased by 31%• 3,313 (1996) to 4,362 (2014)

• The good news is that there were 33% more Baptisms than Funerals.

How Can We Even Consider an Expansion?

Our Parish Is Unique!

From 1976 until 2017, Greek Orthodox weddings in the Americas dropped by 50%.But during that same timeframe, the Saint Haralambos Parish grew from 60 Stewards to over 650.

With the help of our Stewards, our Parish purchased land, built a

Community Center and a Church, and we paid for all of it.

Our Greek Schools have grown to the point where we now have over 240 students!

Dozens more, including children, teens, and adults, are involved in our many

ministries.

Where Do We Go From Here?

• To ensure the future of our faith, our heritage, and our community, we must connect closely with our Parishioners and their children.

• This can best be done by continuing to support and grow the ministries of our church.

How Can We Support Our Ministries?

Financial Support Clergy & Volunteers

Facilities – Unfortunately, the accommodations available to our ministries are lacking.

• Not enough classrooms• Not enough meeting areas• No athletic facilities• Outdated kitchen• No auditorium / stage• Small dining hall

Upgrading Our Facilities

The Phase III Expansion Project includes two major components:

1. The construction of a new multipurpose building. (Construction would start in 2018)

2. A renovation of the existing Community Center and classrooms. (At a later time)

How Has the Design Changed?

• The footprint of the new building has not changed.• The roof of the Multipurpose Building was changed to a flat

roof to decrease the cost.• Although the building will be fully constructed, certain rooms

will be built out and elements added as funds are available.• Renovation of the existing Community Center will be

addressed at a later time.

Proposed Site Plan

New Multipurpose Room for

Fellowship Hall, Fundraisers, Gymnasium,

Receptions andFood Festival.

New Building with storage and space reserved for youth

center, stage, classrooms,

meeting rooms,and offices.

New Kitchen

ExpandedParking Lot

with 200 spaces

AT A LATER TIME:Renovated

Community Center with classrooms,

offices, bookstore and chapel

AT A LATER TIME:Renovated Lobby

New Building – 1st Floor

Internal Storage (for tables, chairs, etc.)

Alternate Location for Non-Permanent

Stage

External Storage (for Food Festival and other outdoor

items)

Multipurpose RoomFellowship Hall / Reception Hall /

Gymnasium /

AS FUNDS PERMIT:Two Additional

Classrooms

AS FUNDS PERMIT:Storage / OfficesFor Philoptochos

And PTAs

Kitchen Area

Entrance from Parking Lot

AS FUNDS PERMIT:Meeting Room /

Library

AS FUNDS PERMITBleachers

Depending on construction costs

and available funds, this section

of the building will be built but

unfinished.Restrooms are

required and will be built.

Multipurpose Room

• The Multipurpose Room will serve as our:• Fellowship Hall• Reception Hall• Gymnasium• Auditorium for large events• Additional space for the Food Festival

Kitchen

Refrigerator/ Freezer Unit(s)

Serving Window / Concession

Area

Lockable Storage

Dishwashing Area Prep and Cooking Area

Classrooms

• As funds are available, we will finish four new classrooms in the new building.

• Our old Fellowship Hall can be used for additional classrooms, as funds are available.

• New/renovated classrooms will meet all DCFS standards.

• Classrooms will be technology friendly.

• Classrooms will have natural lighting.

2nd Floor

AS FUNDS PERMITTwo Additional

Classrooms

Three StoryElevator

(required)

AS FUNDS PERMITYouth Center

Depending on construction costs and available funds, this section of the building will be built but

unfinished.

AS FUNDS PERMIT16’ x 48’ Stage

StageA 16’ x 48’ stage would be

“permanently” placed on the East end of the Youth Center.

Basement

Three StoryElevator

Open Storage(to be configured)

Elevator EquipmentRoom

Restrooms will be “roughed in” and will

only be built if needed in the future.

Changes to Existing Building

Three StoryElevator

New Building

Elevator EquipmentRoom

Existing Community Center

Path #1

Path #2

Path #3

Does It Fulfill Our Needs?

Problem Solution (Upon Completion)

1. Outdated Classrooms Four new classrooms will be added and others will be completely redone. Preschool rooms will meet all DCFS standards and will have private bathrooms.

2. Shortage of Classrooms We will have 11 classrooms available to the schools.

3. Shortage of Meeting Areas The Youth Center will be available for all youth ministries, and we will have several additional meeting rooms and access to the Multipurpose Room for large groups.

4. No permanent stage A large portable stage will be “permanently” set up on the 2nd floor. It can be moved as needed.

Does It Fulfill Our Needs?

Problem Solution (Upon Completion)

5. Outdated / Small Kitchen The kitchen will be completely redone and will be over twice its current size.

6. Shortage of Storage Space The entire basement in the new building will be designated for storage. We will also have several storage rooms throughout.

7. Shortage of Parking Spaces We will add over 50 new parking spaces and have 200 spaces in total.

8. No Multipurpose Room / Gymnasium

We will finally have a large Multipurpose Room to be used as a Fellowship Hall, gymnasium, reception hall, and auditorium. It can also be used during the Food Festival.

How Much Will It Cost?

• The initial project will cost $3.5 million to $4 million, based on previous contractor bids and potential cost-saving ideas.

• Beyond the first $3.5 million, work will be completed as funds are available.

• To put that in perspective:• Our existing Community Center cost about $780,000 in 1983

• Adjusted for inflation, the same building would cost about $1.9 million today.• Our church and offices originally cost $1.6 million in 1987

• Adjusted for inflation, the same structures would cost about $3.3 million today.• Roughly $5.2 million (more than our initial project cost) was raised by a

community less than half our current size.

When Will It Be Done?

• Upon approval (General Assembly, Metropolis, Village, Bank, etc.), construction can begin in July or August.

• Some initial work will be done prior to our Food Festival but substantial construction will begin after the Festival.

• Construction will be completed by the next Food Festival.

• All attempts will be made to minimize the disruption to the schools and the Parish, while balancing the related costs.

How Will We Pay For It?

• Cash On Hand• We have over $2.4 million raised / pledged for the project.• Of that amount, we have about $1.3 million in the bank.• Large donors have committed to paying another $600,000 in existing

pledges as construction begins.• The remaining outstanding pledges will be paid over the next 3 years.

• Fundraising• We need to raise a total of $500,000 to $1,000,000 in addition to

existing pledges.

• Bank Financing• We are arranging a line of credit of up to $1 million during the

construction phase. The interest rate will be the Prime Rate.• Upon completion of the project, any outstanding debt will be converted

to a mortgage. Current terms are an interest rate of 6% for 25 years.

How Will We Pay For It?

• Our Conservative Approach includes:• Limiting construction costs to $3.5 million.• Raising another $500,000.

Conservative Approach Total 2018 2019 2020Construction Expenses 3,500,000 2,000,000 1,500,000 Cash on Hand 1,300,000 1,300,000 Additional Funds Required 2,200,000 700,000 1,500,000 -

Outstanding Pledges as of 1/31/18 1,125,000 600,000 1 393,750 131,250 Projected Additional Pledges 500,000 166,667 166,667 166,667 Surplus from Prior Year(s) - - 66,667 2,083 Bank Financing 1,000,000 875,000 Additional Funds Available 2,625,000 766,667 1,502,083 300,000

Surplus / (Deficit) 425,000 66,667 2,083 300,000 2

Footnotes:1 Several large donors have committed to making their payments as soon as construction begins.2 Any funds remaining at the end of 2020 can be used to pay down debt or further complete the original design.

How Will We Pay For It?• Our Aggressive Approach includes:

• Limiting construction costs to $4 million.• Raising another $1,000,000.

Aggressive Approach Total 2018 2019 2020Construction Expenses 4,000,000 2,000,000 1,750,000 250,000 Cash on Hand 1,300,000 1,300,000 Additional Funds Required 2,700,000 700,000 1,750,000 250,000

Outstanding Pledges as of 1/31/18 1,125,000 600,000 1 393,750 131,250 Additional Pledges 750,000 250,000 250,000 250,000 Surplus from Prior Year(s) - - 150,000 750 Bank Financing 1,000,000 957,000 Additional Funds Available 2,875,000 850,000 1,750,750 382,000

Surplus / (Deficit) 175,000 150,000 750 132,000 2

Footnotes:1 Several large donors have committed to making their payments as soon as construction begins.2 Any funds remaining at the end of 2020 can be used to pay down debt or further complete the original design.

How Will We Pay for It?Mortage Details Conservative Aggressive MaximumAmount 575,000 957,000 1,000,000 Term 25 years 25 years 25 yearsRate 6.00% 6.00% 6.00%Monthly Payment 3,705 6,166 6,443 Annual Payments 44,460 73,992 77,316

Projected Increase in ExpensesMortgage Payments 44,460 73,992 77,316 Increased Utilities & Other Expenses 40,000 40,000 40,000 Total Projected Increase in Expenses 84,460 113,992 117,316

Projected Revenue from Operations 30,000 30,000 30,000

Projected Savings- Parking Lot Rental 12,000 12,000 12,000 - Gym Rental 6,000 6,000 6,000 Total Projected Savings 18,000 18,000 18,000

Projected Increase in RevenuesIncreased Stewardship ($50 * 650 Stewards) 32,500 32,500 32,500 Increased School Revenue (less than 5% increase) 15,000 15,000 15,000 Increased Fundraiser Revenues 10,000 20,000 20,000 Rental/Event Revenues 5,000 5,000 5,000 Total Project Revenue Increase 62,500 72,500 72,500

Projected Surplus / (Deficit) 26,040 6,508 3,184

What If We Don’t Raise Enough?

• We control our spending• We are taking a phased approach so we can proceed

with the bare minimum until additional funds are available.

• The Construction Committee will work with the Fundraising Committee, the Finance Committee, the Clergy, our Ministries, and the Parish Council to make major decisions.

• We reduce expenses• In 2017, excluding schools and fundraisers, our expenses

were over $790,000.• Reducing expenses by only 10% would cover a mortgage.

What Can You Do to Help?

• Pledge!• Make your commitment for up to 3 years. Forms are

available tonight!• Contact Rubine Giannopoulos, DeeDee Grammas or the

church office with any questions.

• Spread the word! • Tell others what you heard tonight and share the

excitement.

Your Donation is Tax Deductible

Please consult a tax professional to compute your exact savings!

Tax BracketAnnual

DonationPotential Tax

SavingsPotential Net Cost

of Annual DonationPotential 3 Year Cost of Donation

22% $3,333 $733 $2,600 $7,80024% $3,333 $800 $2,533 $7,60032% $3,333 $1,067 $2,267 $6,80035% $3,333 $1,167 $2,167 $6,50037% $3,333 $1,233 $2,100 $6,300

$10,000 Commitment over 3 Years

Tax BracketAnnual

DonationPotential Tax

SavingsPotential Net Cost

of Annual DonationPotential 3 Year Cost of Donation

22% $1,667 $367 $1,300 $3,90024% $1,667 $400 $1,267 $3,80032% $1,667 $533 $1,133 $3,40035% $1,667 $583 $1,083 $3,25037% $1,667 $617 $1,050 $3,150

$5,000 Commitment over 3 Years

Questions / Comments