1. What projects will we address in this campaign?
Based upon feedback received in the planning study, our goals are to reduce or eliminate the parish debt and contribute our share to the $150 million archdiocesan campaign. Funds received over these goals will go into a building fund for future needs.
2. What are our financial goals?
Success will be recognized at these levels:
$2.2 million Celebration Goal – At this level, St. Theresa meets its obligation to support the capital campaign for the Archdiocese of Galveston-Houston and eliminates $1 million in debt.
$3.2 million Challenge Goal – When this goal is achieved, St. Theresa decreases its debt by $2 million
$5 million Victory Goal – At this milestone, St. Theresa eliminates its debt and establishes a fund for the construction of future campus projects.
3. How does the campaign for the Archdiocese of Galveston-Houston affect our fundraising effort?
As you know, we have a commitment to support the archdiocese and our assessment for that campaign is $1.2 million. This commitment is included in our campaign total, but we will fulfill this obligation first before any funds are applied to our campaign projects.
4. How will funding be applied to reduce our debt?
Reducing our debt received the highest support in the planning study. We plan on addressing that by allocating the remaining campaign dollars toward debt until it is eliminated. We look forward to the day when we are debt-free, but please remember the debt is not crippling St. Theresa. The rate on our current loan is low and is something we can easily manage. Watch this space for more FAQs to come!
Sincerely yours in Christ,
Father Eurel Manzano