Capital Campaign Summary - May 2017

Early success and donations for the campaign allowed us to pay $340,000 on ERUUF's mortgage almost immediately. The variable rate loan was reamoritized in March 2012 for a nominal fee to lower the monthly payment, which reduced annual mortgage costs by $58,000. Late in Dec. 2014, an anonymous donor came forward with a matching gift challenge to pay off the remaining mortgage, which raised an additional $170,000 leaving a mortgage balance of $121,982 by 2015-2016. Annual mortgage costs decreased from 2013 to 2016 from $43,244 to $17,500 as a result of the campaign.  As of Dec. 31, 2015, the capital campaign had received total pledges of $1,051,932 and actual contributions of $994,258.

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