Special General Assembly:

1
Special General Assembly Master Plan Next Steps
Jan 27, 2013
2
Building Fund - Sources of Funds
1,572,729 Donations pledge payments
285,000 Festival (2004- 2012) 12,996 Car
Raffle - net 37,000 Transfer from Operating
Fund (2008) 36,244 Interest Earned (total
since inception) 30,000 Philoptochos
(2008) 18,425 Tax Refund Program (2008)
9,876 Spaghetti Dinner net 8,213 from
Dances net 3,930 Lenten Soup, Tsourekia
1,371 Variety Show 714 Misc
2,016,498 Total
3
Building Fund - Uses of Funds
131,245 Stewardship Advocates (Father
Anthony) 49,115 CJK Design (Christ
Kamages) 8,960 Site Survey
4,067 Printing 1,862 Misc
195,249 Total
4
Capital Campaign Results

• 6.20 M Estimated project cost
• Available Cash Commitments
• 1.85 M Cash in Building Fund
• 1.20 M Commitments Due
• 3.05 M available cash commitments
• 30 of Stewards participated
• No gifts or pledges over 150,000

5
Factors we considered

• 3M available 50 of our goal !
• 30 participation rate
• Maintain agreed to Byzantine design, features
• Affordability
• Economic difficulties to raise additional funds
• Cost projections to build
• When to build?
• Success requires leadership gifts AND full
  participation of all stewards

6
Recommended Full build-out of Phase 1

• Phase 1 Sanctuary
• Sanctuary
• Lower Level, Shell only - unfinished (future
  includes upfit of gathering area, classrooms,
  storage, bathrooms, kitchenette, offices)
• New auto drop-off entry drive, landscaping and
  retaining wall
• Choir Balcony / 3 floor elevator
• Expanded administration
• Library, Book Store

6,200,000
7
How could we build sooner than later?

• We do not recommend
• Adjusting design points i.e. simpler design,
  with the same basic features
• Taking out a mortgage
• We do recommend
• Continuing capital campaign
• Continuing to evaluate cost basis

8
Next Steps

• Continue to evaluate cost basis
• Continued discussions with architects
• Planning with City of Raleigh
• Continue Capital Campaign
• Leadership Gifts
• Full participation no gifts too small
• Legacy Endowment Society

9
With full participation we will accomplish our
goal !