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Ask Dave

Sour Pledges

Barbara wants to know what Dave thinks of pledging money and borrowing for a church.

QUESTION: Barbara asks Dave his opinion on pledges and borrowing when it comes to churches. Dave tells her exactly what will happen if you do.

ANSWER: You will only collect 60% of what is pledged, and you’ll go over construction budget by at least 30%. Your $4 million project will turn into something that you owe $2 million or $3 million on. My experience with many churches is what makes me say that will happen. I understand you’re trying to grow and serve the community. I’m not saying to never build a building, I’m saying when we get caught up in growth and things happening, we don’t consider things like losing a pastor or a scandal. When you have $3 million in debt, it’s really hard on the church. If you take the time and build up the cash, it will only take you an extra year or two.