Capital Campaign Update

Dear Mount Olivet Members,
    Thank you so very much for the generous support you provided our Building on a Strong Foundation – with Christ as our Rock capital campaign.
    As of July 5, 2017, capital campaign gifts and pledges total $27,675,055, which includes support from both phase one in 2014 and phase two in 2017. All donor designations have been honored throughout the entire campaign.
    It is wonderful that the new Minneapolis front entrance, elevator, kitchens, and parking lot were completed and dedicated in May 2015. With the goal almost met for the Minneapolis Campus East Addition for music and education, that project is underway and completion is scheduled for early 2018.     
    Regarding the West Campus Addition, bids totalling $12,700,000 for construction and furnishings have been received. The current gap between funds needed for this project and funds raised is just under $2 million, a gap we expect to close through further fundraising with the possibility of drawing from the endowment and/or taking out a modest loan. In the meantime, at their July 11 meeting, the congregation council unanimously voted to move ahead with the West Campus Addition. Excavation and land preparation will take place this summer / fall in preparation for construction in the spring.

Capital Campaign Financial Update as of July 5, 2017:

Pledges & Outright Gifts $27,675,055
Expense to Date – $10,054,917
Remaining Funds $17,620,138

Designation for remaining
Mpls Campus East Addition FUNDS $6,910,561 GOAL $7,325,000

West Campus Addition FUNDS $10,709,577 GOAL $12,700,000

Total Funds $17,620,138

Again, we extend our gratitude to all who have offered their support and prayers for these much-needed capital improvements for Mount Olivet – one church, two campuses.

Pastor Lose
Senior Pastor

Mari Carlson
Director of Development

If you have not participated in the capital campaign yet, now is the time to make your commitment to help close the gaps for both remaining projects. Please contact Mari Carlson 612.821.3150 mcarlson@mtolivethomes.org.