St. Peter & St. Paul   Buckingham

The Open Door Project: Funding

We thank God for all he has given us; for vision and patience, for faith and generosity; and for bringing us to this exciting moment in time.

  We are delighted to say that we are preparing for the building phase of the Open Door Project to start in the week beginning 8th October. Thank you for all you are doing to help. If you haven’t yet become a Benefactor, we invite you to join us now and help make the Open Door Project a reality.

Contractor:      The PCC has accepted the tender, subject to contract, of Basil Wyatt, building contractors based in Oxford.

Cost:                The cost of the project is expected to be about £560,000.

  Building work                                             £460,000

Professional fees etc                                    £100,000

TOTAL:                                                          £560,000

This is higher than we hoped but not as high as we feared from the initial tender returns.

 

Funding:         The response from the congregation has been great and the PCC has decided to make available, if necessary, all reserves that are not restricted to restoration work. This means that about £480,000 is currently available.

                       

Pledges & donations £174,100

Tax refunds   £45,900

                        PCC funds                                          £142,800

                        Grants                                                  £102,000

                        Fund raising etc                                   £16,900

                        TOTAL                                                £481,700

 

The gap will be filled in the short term by generous loans from members of the congregation, giving us more time raise the balance. We must do this as soon as possible so that we do not presume upon the generosity of these individuals for too long.

How will we raise the shortfall?

1. By pursuing further grants.

There are a number of funds that we hope will support us now that we are close to our target.

2.  By extending the time of our individual pledges.

If most of our pledges are extended to the end of 2005 we would raise an extra £40,000.

 

3.  By inviting others to join the long list of benefactors.

All benefactors will have their name entered in the Register of Benefactors.

4.  By organising more fund-raising events.

 

What can you do?

Residents of Buckingham are invited to support this project which will offer benefits to everyone in the town and greatly increase the comfort and suitability of the church for community use. You are invited to make an investment in the future of the Church and of Buckingham.

All donations will be very gratefully received.

Named donations will be treated confidentially and will be acknowledged.  Cheques should be made payable to The Open Door Project and sent to  

The Rectory, 39 Fishers Field, Buckingham MK18 1SF

Taxpayers – please take advantage of the charity tax changes brought in this year and make your gift tax efficient. Please see the back page for details.

Did you know you can increase the value of your gifts by completing a simple Gift Aid Declaration Form? This will enable the church to reclaim the tax already paid on any donation, raising an extra £28 for every £100 given. These forms or specially labelled envelopes and Bankers Order forms are available in church or from:

Judith Bundock, 1 Holton Road, Buckingham MK18 1PQ

 

Examples of how regular gifts can benefit the appeal.

 Monthly amount £

Total paid in 1 year £

Total £ paid over 4 years

Gross Value £ over 4 years with tax recovered*

20

240

960

1231

10

120

480

615

5

60

240

308

* Based on the standard rate of tax of 22%

 

 

Everybody’s contributions will be greatly valued, whether a single donation or a regular payment.

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