Financial Review

Below is detailed information regarding the current financial state in terms of PCM’s loan debt. This debt originated from a loan that was taken in 2017 for the purpose of making building renovations.

The following financial information will hopefully answer any question you may regarding PCM’s financial situation and the necessity of retiring the debt as expediently as possible. To state the obvious, repaying the loan quickly will result in PCM paying significantly less in interest costs. Money that could be better served enhancing the ministry of the church.

If you additional questions, please click here to send a note to the Capital Campaign committee for more information. The committee is committed to responding in a timely fashion.

 

PCM Building Loan Snapshot

  • Original loan amount:  $1,855,000
  • Loan Balance:  $1,185,134 (as of 12/31/25)
  • Total reduction in principal:  $669,866 (as of 12/31/2025)
  • Total interest paid to date:  $534,452 (as of 12/31/2025)
  • Interest rate & payment schedule is adjusted every 3 years (recently adjusted on 1/13/2026).
  • Final Payment Due: 11/1/2037
  • Present interest rate is 5.87%
  • 2026 Monthly Payment:  $11,112
  • 2026 Annual  Total Payment:  $133,347

 

PCM Building Loan History

1/13/2017 – 20-yr. loan of $1,855,000
– Loan interest rate:  4.07%
– Monthly payments:  $11,309.48

1/13/2020
– Loan interest rate adjusted to 4.17%
– Monthly payments adjusted to $10,410.90

1/23/2023
– Loan interest rate adjusted  to 5.07%
– Monthly payments adjusted to $11,077.82

1/23/2026
– Loan interest rate adjusted to 5.87%
– Monthly payments adjusted to $11,113

 

Capital Campaign Donation History

  • Total amount collected:  $2,185,709  (as of 12/31/2025)
  • Current amount in reserve:  $423,231 (as of 12/31/2025)
  • Professional expenses associated with previous capital campaigns:  $265,893
  • Contributions by year:

 

Final Observations

To retire the loan while minimizing the amount of interest paid, the campaign will need to raise approximately $800,000.

If the goal is unable to be met, the following actions will likely need to occur.

  • PCM will be required to continue making monthly payments which will result in increased interest being paid over time. Monthly payments through the end of the loan (i.e. November 2037) will result in approximately $400,000 in interest paid from 1/1/2026  through 11/1/2037.
  • Additional campaign(s) may be required in the future.
  • As alternatives, PCM may elect to repay the debt through one of the following methods:
    • Utilize proceeds from sale of adjacent land, or the building itself.
    • Reduce existing expenses and make payments from annual operating budget. Expense reduction would likely be achieved by cutting programs or salaries.