Thanks to the additional donations received from individuals, churches, and through property sales, Maritime Conference has been able to make an “extra” payment of $150,000 against the principal of the mortgage. The incredible effect of this payment is that over $426,000 in interest has been saved, and the length of the mortgage has been shortened by 3 years and 9 months!
The terms of the mortgage allow for such an extra payment to be made once per year, on the anniversary date in September. Donations remain strong and look to be sufficient that we anticipate making a similar payment in September 2015. However, many givers will finish their commitments in the next year or so. The ability to continue to make these extra, and very effective, payments is not certain. If you are currently giving, please consider continuing your commitment for a few more years. If you are not currently giving, please consider starting! Every donation is significant, and the collective effect is substantial. For more info on the fundraising project and for donation forms please click here.
For more information, please contact Conference at firstname.lastname@example.org.