Financial Update from the Wellspring Finance Team

Greetings Wellspring Church,

Over the last year, we've made it a priority to use giving over and beyond our budget to pay down our mortgage. We wanted to give you an update on our progress, show our position in terms of giving, provide more information on our planned refinance, and offer you an opportunity and a method to be able to contribute.

Quick Summary

  • February giving was $20,000 below budget

  • We remain financially healthy, but deficits reduce our ability to pay down the mortgage

  • Elders reviewed four lender options and selected the strongest one

  • New refinance terms include a better‑than‑expected interest rate and no penalty for early payoff

  • Special giving window for mortgage reduction: March 15–29

February Giving

February giving came in $20,000 below our target budget. While fluctuations like this are normal, we want you to be aware of it. We are still in a healthy place with the budget, but when we have a deficit, it reduces our ability to give over and above toward mortgage reduction.

Why this matters: Faithful giving—especially to the Mortgage Debt Reduction Fund—strengthens our ability to meet commitments and invest in the ministry God has called us to.

We are grateful for every person who gives faithfully. Your giving is an act of worship, and it fuels discipleship, mission, and the ongoing work of the church.

Mortgage Reduction & April Refinance

We remain committed to giving everything above our annual budget directly toward reducing our mortgage principal. Paying down our debt now frees future resources for ministry and mission.

As part of our loan agreement, our church is required to complete a refinance this April. Over the past few months, our Finance Team gathered four lender options and presented them to the Elders for review. After prayerful consideration, the Elders selected the option that offered the strongest long‑term benefit for Wellspring.

We are grateful to share that the lender we chose provided a much more favorable interest rate than we expected, and the new terms will allow us to pay off the remaining balance early without penalty. This is a significant blessing and positions us well for future mortgage‑reduction goals. The refinance will be finalized in April.

Why this matters: Better terms mean every dollar we give above budget goes further and faster toward reducing our debt.

Special Giving Opportunity: March 15–29

With the refinance approaching, we are opening a focused opportunity for anyone who feels led to give directly toward mortgage debt reduction.

From Sunday, March 15 through Sunday, March 29, there will be a separate giving option available in:

  • the Wellspring Church Center app (Tap “Give,” enter the amount, tap “Next,” and select the “Mortgage Debt Reduction Fund.”

  • online

  • in‑person giving (Black Boxes in the Sanctuary)

These gifts will go entirely toward reducing the principal on our mortgage.

How You Can Participate

  • Continue giving faithfully to the KINGDOM IMPACT FUND (commonly known as our “General Fund”)

  • Consider an additional gift toward our MORTGAGE DEBT REDUCTION FUND during March 15–29

Moving Forward Together

Thank you for your continued faithfulness and partnership. We are grateful for the way God continues to provide through this church family. Your giving—week after week—helps us invest in ministry and prepares us for the future God is calling us into.

If you have any questions about giving, budgeting, or the refinance process, our team would be glad to connect with you. You can reach us anytime at church@wellspringcc.org.

Blessings,  

The Wellspring Finance Team