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Jubilee Sunday

The Vine on Friday, 03 February 2012.

Jubilee Sunday

February 19 will be Jubilee Sunday at The Vine, and we’ll be celebrating together as the building contractors officially hand over the keys to the Vine Centre on that day. We will also be presenting an update on the VC2 project as well as taking up a special offering towards the building costs.

At First Fruits Sunday in 2009, we raised $5M. At Fruition Sunday in 2010 we raised $6M. At Jubilee Sunday, our target is to raise $7M towards clearing our outstanding VC2 debts. Please join us on February 19 as we celebrate and seek God together as a church. For more information on how you can give, visit our giving page.


Why Jubilee?
Even though the term 'Jubilee' is used in many contexts in the 21st century, its basis is biblical (see Leviticus 25:10,23, 27:21). The year of Jubilee biblically is a time of joy, and a year of remission or universal pardon. Under Mosaic law, each fiftieth year was to be celebrated as a jubilee year, and that at this season every household should recover its absent members, the land return to its former owners, the Hebrew slaves be set free, and debts be remitted.

Project Update
The construction and building work is now 99% completed, with only some minor works still ongoing. On February 19th, we will have an official ceremony where the keys to the building will be handed over from the contractor to us. This will signal the official end of the construction, and will allow us to start the using the building fully to fulfill our vision.

Financial Update
Although the construction work is almost completed, we still have an outstanding loan of HK$23M, and as of December 2011 monthly loan repayments of around HK$700,000 have commenced.

* We have raised HKD38M so far towards the VC2 project
* We have been given a HKD13M interest free loan from church members
* We have taken a HKD12M unsecured loan from Bank of East Asia (BEA)
* Loans can be paid in full at any time. BEA loan is 2 year repayment schedule.
* Last loan instalment is due in March 2015
  • We have raised HKD38M so far towards the VC2 project
  • We have been given a HKD13M interest free loan from church members   
  • We have taken a HKD12M unsecured loan from Bank of East Asia (BEA)   
  • Loans can be paid in full at any time. BEA loan is 2 year repayment schedule.   
  • Last loan instalment is due in March 2015

FAQ
// Q1: The church has already taken up offerings at First Fruits Sunday in May 2009, and Fruition Sunday in November 2010. Why are you asking the church for money again?
A: We held First Fruits Sunday with the intention of raising an initial HK$5M to start the project. On that day we managed to raise $4.8M to start the project. At Fruition Sunday, we managed to raise a further HK$6M towards the building project. Although the building work has now finished, we still have a loan amount of HK$23M that we need to pay. Our hope is that Jubilee Sunday will go some way towards paying off that debt amount.

// Q2: Are you expecting the church to raise all of the remaining $23M on Jubilee Sunday?
A: Obviously if that were to happen, it would be amazing, however we are not expecting all of the $23M to come in on Jubilee Sunday. Based on the previous two fundraising Sundays, we are hoping that we will be able raise close to HK$7M on February 19th towards the paying off our debts.

// Q3: How many more fund-raising Sundays are you going to be holding for the Vine Centre 2 project?
A: At this moment in time, we do not have any plans for any other specific fund-raising Sunday's. However, we would not rule out holding another fund-raising Sunday in the future if we still need funds to complete the project. We believe that this is primarily a Vine project, and therefore the main responsibility lies with us as a church family to raise the money for this project.

// Q4: Should I consider my Jubilee Sunday offering to be part of my normal tithe, or is it in addition to my normal tithe to the church?
A: We still have to cover our normal running costs as a church, so we would respectfully ask you to consider your Jubilee Sunday offering on February 19th, as a separate offering, over and above your normal tithe.

// Q5: What should I do if I cannot give my Jubilee Sunday offering on the exact date of February 19th?
A: We realize that many of you may not be able to make it to church on February 19th, or that you may not have the money readily available until pay day (which may occur after February 19). In this case, you can either make your payment before or after the date (we will be accepting donations until Feb 29), clearly marking it as a JUBILEE SUNDAY OFFERING. Alternatively you can place a "pledge envelope" into the offering baskets on February 19, stating the amount and the intended date of payment. Envelopes will be available on February 19.

// Q6: Will my Jubilee Sunday Offering be tax deductable?
A: Yes - provided that you comply with the HKSAR Government requirements for tax relief for charitable donations. We also have tax exemption forms for both UK and US tax payers available.

// Q7: What other ways is the Church looking at to pay off the debt?
A: We have been looking at a number of ways to pay off the remaining debt, these include: ongoing external fundraising, naming rights and sponsorship, venue hire and others. We are also looking at other ways that we can further cut back on our expenses as a church.
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