FROM THE EDITOR
Is it time to start building again ?
churchexecutive . com
Volume 20 , Number 4
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For Isaac Oyedepo , pastor at Winners Chapel International Maryland , the answer is a resounding “ yes .”
In “ Thinking outside the ‘ big box ’” on pages 8-10 , we detail Winners Chapel ’ s path to transforming a 15-acre shopping center into the ideal church campus . Best of all , Phase 1 of this challenging build is slated for completion on time ( even given an unusually fast turnaround time for a project of its scope ) and under budget .
While a shopping center might seem like an unlikely choice for a church , it ticked all Oyedepo ’ s boxes : it delivered the space the church needs , had a modern design , and proved adaptable to the quick-turnaround project timeline he had in mind .
Importantly , it ’ s also less than five minutes from the current campus and offers maximum visibility .
“ It puts us in the right in sight ,” Isaac points out . “ Getting that property , in the midst of that community , has given us access to another community .”
Be sure to read this church ’ s story ; it ’ s a compelling story of the power of exceptional leadership and partnership .
Though Oyedepo and his church build debtfree , the fact that they ' re undertaking a project of this size right now lends credence to the notion that churches are beginning to emerge from a COVID-era halt on building . Experts seem to agree .
For an in-depth exploration of the topic , be sure to check out our forum , “ The Lending Landscape : Construction Financing ,” beginning on page 14 .
For example , on page 16 , Bank of the West ’ s Jeremy Moore asserts that the churches who reacted appropriately early on are in the best position to resume building projects .
“ Many churches began in spring 2020 — when COVID struck — to build cash and control spending ,” he says . “ Having adequate cash reserves is always helpful , but those who managed this well going into the pandemic were able to make decisions with more focus on the needs of their communities and less concern for their own budget and needs . [ Those churches are ] now in an incredible season of opportunity .”
On page 17 , as Union Bank & Trust / Emanate Consulting ’ s Charity Keuhn surveys the construction financing landscape , she focuses on a proven approach ( pandemic or not ) for ensuring a smart building project — specifically , developing a strategy that involves a “ capital stack ” projection .
“ Think of it as a pyramid that starts with cash on hand , then fundraising , and finally borrowing ,” Keuhn explains . “ This capital stack can help you see the vision you have for your project come to fruition . It can also help your congregation have buy-in and confidence in your project completion .”
She adds : “ The earlier you speak with a lender , the better off you are .”
In a Q & A with WatersEdge Ministry Services ’ Jerry Vaughan on page 18 , we focus on how churches navigated COVIDera financing challenges — and the lessons they ’ ll carry forward , even in less challenging times . Chief among them : always being prepared for the unexpected .
“[ A ] lot of the churches that had streaming capabilities and online giving in place prepandemic didn ’ t miss a beat ,” he points out . “[ W ] e weren ’ t sure how churches would be impacted when the pandemic initially hit . As we progressed through 2020 — April , May , June , July — we were still unsure . Then , starting around last August , I began to see loan applications pick up again .”
As always , we hope this issue is of benefit . We welcome your feedback .
RaeAnn Slaybaugh Editor in Chief
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EDITORIAL ADVISORY PANEL
Stephen Briggs Associate Pastor of Administration First Baptist Church | Hendersonville , NC
Denise Craig Executive Pastor Abba ’ s House | Hixson , TN
Mike Klockenbrink Chief of Staff Lakeside Church | Folsom , CA
Dan Mikes Senior Relationship Mgr ., Faith Based Banking Division Cass Commercial Bank | Des Peres , MO
John C . Mrazek III Executive Pastor Pathways Church | Denver , CO
Sam S . Rainer III Senior Pastor West Bradenton Baptist Church | Bradenton , FL
Mark Simmons Business Manager Christ Community Church | Milpitas , CA
Eric Spacek Senior Manager GuideOne Insurance | West Des Moines , IA
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4 CHURCH EXECUTIVE | JULY / AUGUST 2021