About 20% of the congregation members were able to participate in the Board Listening Session after service on February 20. We discussed some important issues and we want to reach out to the entire congregation because your comments, affirmations and concerns are important for us to make the best decisions on how we move into tomorrow.
The topic of the Listening Session was the Board’s draft priorities for legacy giving. A legacy gift is any large gift given to support OUUC’s future. Gifts can be given while someone is alive and often are included in someone’s will. Such gifts are for large capitol campaigns or capital projects and not intended for operations.
The Board outlined four priorities for legacy gifts.
Option 1: Endowment Fund
Our goal is to reach $500,000. As of 12/31/21 the fund was at $451,926.
Why? After we reach the $500,000 principle amount, future interest will be available
for our use as outlined in the Board’s Governing Policy 4.10.
All OUUC’s endowment funds are with the Unitarian Universalist Common Endowment Fund, which pools endowments from other UU congregations and Is invested in Socially Responsible Investments made in alignment with our UU values. For more information see https://uucef.org/socially-responsible-investing/about-sri/
Option 2: Buildings and Grounds Maintenance and Repairs
Key Examples May include:
- Deferred building maintenance
- Technology Projects
- Major list prioritized by Rev. Mary and Grounds
Why? The Buildings and Grounds group has identified over $200,000.00 in projects (which includes a furnace replacement with heat pumps or new furnace) that need attention to maintain our facility. The longer we fail to meet the maintenance obligations the more problems we may encounter in the long term in both cost and facility issues.
Option 3: Capital Improvements
Key Examples May include:
- Heat pumps
- Solar panels
- General Environmental Capital Improvements
Long-term building projects/Major renovations
Why? OUUC Furnaces have reached the end of their life cycle and need to be replaced by environmentally friendly heat pumps. The OUUC solar system is antiquated, and additional panels can be added to reduce our carbon footprint. Finally, this fund allows congregants to provide funding for other long-term capital improvements.
Option 4: Financial Projects
Key Examples May Include:
- Member Loan Pay-off ($40,000) as of 12/31/21
- Reserve Funds Replenishment to $55,500 (currently at $16,000) as of 12/31/21
- Mortgage Debt Pay-off ($179,500) as of 12/31/21
Why? The Board would like to retire as much debt as possible and replenish reserve funding that was used to replace the HVAC system. The more debt that is retired the more funding the Church will have for social justice and general operations. Retirement of our debt will lighten the burden of future generations of our congregation.
Some of you asked for more information about the deferred maintenance list. This list was compiled by the Buildings & Grounds Team at Rev. Mary’s request. Here are some of the items:
- Replace 30-year old gas furnaces in the sanctuary and core area (offices, Commons & kitchen)
- Replace building roof gutter system
- Replace front doors
- Replace emergency lighting system in the Religious Education wing
- Remove and replace failed asphalt in upper (north) parking lot
- Remove and replace failed curbs in upper parking lot
- Repair, seal and re-stripe entire parking lot
- Replace steps from upper parking lot to main doors
Thanks to Jerald Dodson for photos!