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A Running History of Securing The Land

From the 2010 Wheel of the Year Calendar,
a running listing of Four Quarters Camp Mortgage pay-off.

Just amazing what people with a purpose can do!

Our Camp Mortgage as of Jan 2005
Loan Principal: $145,000
Interest Rate: 7.35%
Monthly Payment: $1,340
Loan Payoff Date: Dec, 2019
Total Interest to be Paid Over 15 Years: $94,730

Our Camp Mortgage as of Jan 2006
Extra Paid Towards Principal in 2005: $8,000
New Principal as of January 2006: $131,193
New Loan Payoff Date: Aug, 2018

Our Camp Mortgage as of Jan 2007
Extra Paid Towards Principal in 2006: $12,000
New Principal as of January 2007: $112,750
New Loan Payoff Date: Jan, 2016

Our Camp Mortgage as of Jan 2008
Extra Paid Towards Principal in 2007: $11,500
New Principal as of January 2008: $92,000
New Loan Payoff Date: Jan, 2014

Our Camp Mortgage as of Jan 2009
Extra Paid Towards Principal in 2008: $5,000
New Principal as of January 2009: $76,000
New Loan Payoff Date: Jan, 2012

...with no more additional principal payments!

The Future of the Land Mortgage

We are now in the “Sweet Spot” of the loan amortization curve, with 2/3rds of every regular monthly payment now going towards principle, rather than interest. And that ratio of principle vs. interest will now accelerate every month over the next three years. Without any further advanced principle payments, the Church Land mortgage will be paid off in just three more years.

Oh, how the bank dislikes that!

Accordingly, in 2008 we began moving funds that were formerly reserved for extra principal payments on the camp mortgage into the Building Fund for this years dormitory construction, and we will continue to do so into the foreseeable future. This should provide the core funding for the slow but steady improvement of the camp.

The Future of e-Pledge

The purchase of the Land, the advanced prepayment of the mortgage and the Building Fund; are all made possible by pledged donations to Four Quarters and specifically by e-Pledges, which are reserved and deposited directly to the Land and Building Funds.

42 Four Quarters Members have made a commitment to the e-Pledge Program. The commitment of a bit more than 10% of our Members has provided the direct funding to pay down the mortgage and fund the new building program. If you have not, we hope you will consider making an e-Pledge. Just $2 a month will make a big difference. Really! We have included an e-Pledge application in this mailing, and office Micheal will be happy to answer any questions you may have. Please, play your part in the future!

e-Pledge Donations to The Land + Building Funds

Total e-Pledge Donations in 2005: $  7,200
Total e-Pledge Donations in 2006: $11,000
Total e-Pledge Donations in 2007: $11,800
Total e-Pledge Donations in 2008: $14,000

Four Quarters Interfaith Sanctuary 190 Walker Lane Artemas PA 17211 USA 814-784-3080 This email address is being protected from spambots. You need JavaScript enabled to view it.
Incorporated in the Commonwealth of Pennsylvania as an InterFaith Non-Denominational Church, Monastery and Spiritual Retreat Center.
All donations fully tax deductible as allowed by law. PA EXMP 75-538-546 FED EIN 25-1853964
© 1995-2014 The Church of Four Quarters™, Four Quarters™ and Four Quarters Farm™
Free use of text expressly granted for all non-profit purposes; unchanged and with attribution to Four Quarters. All other rights reserved.

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