4001 Victoria Way Lexington, KY 40515 T: 859-273-9999


Finances Continued: “THE YELLOW ENVELOPE”

This week I am addressing the YELLOW envelope.  You will notice that you are given a choice to support either the Building Endowment or the General Building Fund, or both.

The Building Endowment is an account which has been established to support the on-going maintenance needs of the parish.  The goal is to raise $1,000,000 after which the annual interest and up to 5% of the principle may be used to support long-term maintenance needs, such as the recent purchase of the chiller.  Funds are placed into Endowment through your directed donation in the YELLOW envelope or through bequests, unless otherwise designated by the bequest.

As of March 31, 2018 there was a balance of $111,057 in the Endowment Fund.

The other choice on the YELLOW envelope is called the General Building Fund.  This fund pays down the October 2016 loan of $450,000 which was borrowed to replace the chiller, the purchase of the Youth House and the two properties where the secondary egress is located.  Funds were also used to upgrade the security system, improve lighting in the Peace Garden, install gates at the secondary egress, and the second cabinet in the welcome area.  There is currently $32,142.77 remaining available on this line of credit, with an additional line of credit up to $100,000 if necessary.

Our current balance due on the loan is $427,957.33, with a required monthly payment of $2,801.33.  We receive “on average” enough monthly donations to continue to make this payment.

In addition to the YELLOW envelope donations, we direct the rebate from Kroger cards, Niche Sales and rental of the houses to the General Building Fund.  We currently have $39,021.08 on hand toward the payment toward this loan.   At its April Joint Finance/Pastoral Council meeting, the members recommended making double payments whenever possible.


Building Endowment Fund:                               $111,374.54

General Building Fund: $39,021.08   on hand

$427,957.33   due on note

$2,801.33  monthly payment


Balance of $450,000 loan available for 

major maintenance/emergency needs:                      $32,142.77



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