Great News on “Match to Burn the Mortgage Campaign” – We’re Almost There – Please Read this Update!
We wrote to you last month about the donor who had agreed to give us $25,000 in 2018 and again in 2019 to pay off the museum mortgage if we can raise a matching amount in donations. And this donor let us count what we received starting last month towards 2018. Our membership response has been amazing – $21,200 in just the first month! So, we are already just $3,800 shy of meeting the 2018 match! However good that news is, it can get better if we can count you among the supporters this month.
Here’s how – the museum was purchased on a Land Contract which has a current balance of $120,000. Chelsea State Bank has approved CAHS for a traditional mortgage of $100,000 (we had planned on a $20,000 down payment). With closing on the mortgage in just a couple of weeks, we now want to up the down payment and lower our monthly payments. Our donor has agreed to write the $25,000 check as soon as we meet the goal. So, if we can raise the additional $3,800 in the next two weeks then we can have a $70,000 down payment for a $50,000 mortgage and substantially reduced payments.
Then WHEN we meet the target again next year, we burn the mortgage and will be 100% debt free! Please consider what you can give and act soon. Remember, your pledge can double your generosity! As a 501c3 non-profit organization, your donations are 100% tax deductible.
We hate to sound greedy, but the sooner we receive your donation the better so we can meet the match and significantly boost our down payment & lower our mortgage payments! You can mail your check to the museum at 128 Jackson Street, Chelsea, MI 48118 (make check payable to Chelsea Area Historical Society or C.A.H.S.) or you can make a donation at our website – www.ChelseaHistory.org. Any questions or comments can be directed to C.A.H.S. President, Bill O’Reilly, at President@ChelseaHistory.org or by calling 734-476-2010.