Year of Jubilee ends with convention
Filed Under: Christian Giving, Year of Jubilee
The Year of Jubilee offering, authorized by the 2007 synod convention to eliminate or reduce the synod's $22.4 million dollar debt, concludes at next week's synod convention in Saginaw, Mich.
To date, more than $3.9 million has been gathered from 722 congregations and more than 2,700 individuals. In all, 56 percent of congregations synodwide have participated.
The Year of Jubilee offering combined with regularly scheduled debt payments have reduced the debt to about $14.6 million as of the end of June. Under the budget proposal before delegates, the offerings will allow deferral of debt payment and accrual of interest for one year—and allow the debt to be re-amortized over ten years, reducing annual debt payments from $2.7 million to $1.6 million.
"May all of us go to God's throne and thank him for using the message of Jubilee—'Now is the day of the Lord's favor'—to compel these congregations and donors to assist with reducing WELS indebtedness," says Rev. Dave Liggett, director of the Ministry of Christian Giving.
While the formal Year of Jubilee offering is coming to an end, donors can continue to designate gifts toward debt elimination. To learn more, go to www.wels.net/jump/mcg.
