The COVID-19 pandemic has caused unprecedented economic impacts on virtually all aspects of our local economies. Because attendance at congregational services has decreased significantly for safety and compliance, churches are among those feeling the greatest impact. Additionally, many parishioners have been financially affected and charitable giving has suffered as a result. However, many churches are reportedly not only weathering the pandemic but are seeing collections increase. Whatever the situation in your church, the principals of stewardship remain the same. So, as a leader in your church, how can you strike the right balance of conservatism and investment in your future priorities?
The decision to proceed on large capital expense should not be taken lightly. Undoubtably, prior to the virus outbreak your congregation had determined that new facilities were necessary to provide room for expansion or the growth of your ministries. Perhaps a reexamination of these priorities with your elder board would be in order. However, if your priorities haven’t changed, then the next step would be to accurately determine the costs of your facility upgrade. (Learn more: Avoiding unexpected construction costs)
Eden Religious Facilities has extensive experience helping congregations project the financial impacts of their proposed building plans. Contact Eden Religious Facilities today to understand the impacts of COVID-19 on your development plans.