Weathering the storm, steady for bright future

“Construction material costs have been stabilizing and interest rates are beginning to moderate. That is very good news for church leaders who can now better budget for their project costs.”

The things of life so often go in cycles or patterns. It is fascinating to study and try to better understand them. How many of us have said if we only knew then what we know now, how could things have been different?

Uncertainty impacts churches

Four and a half years ago, our country went through a once-in-100-year pandemic. Few if any of us had a pattern or cycle to compare it to. We didn’t know when some sense of normalcy would return. This uncertainty also had an effect on churches, even as the emphasis in the news was more on the economy and our lives as individuals.

Then higher inflation rolled in and interest rates spiked. At the same time, in the construction world, the price of many materials went even higher, and labor costs would eventually double and remain there. Churches that needed more space in 2019 and were biding their time soon found that much higher costs were putting their projects and purchases out of reach.

Adapting together to support ministry

The answer for some was to plan their projects in phases, spacing them out for affordability and combining capital campaign efforts with an as-needed approach to borrowing. We have been along for the ride to provide input and strategies, experience and advice.

So much of life, churches included, is a balance between operating in the here and now and planning for the future, which in this world can be uncertain. Church elder boards across the country are having these conversations.

Stabilization and moderation

Construction material costs have been stabilizing and interest rates are beginning to moderate. That is very good news for church leaders who can now better budget for their project costs. This, combined with increasing loan affordability and borrowing capacity, means many will be able to afford delayed maintenance items and buildouts to accommodate growing ministry needs.

Highly active and available

For us at CIF, the period after Labor Day is a busy time. There are many meetings, much planning and decisions to be made. More churches are inquiring with us, and we are into our travel season of church conferences, visits and presentations. It is energizing to say the least as we nurture past relationships and build new ones.

We are grateful for the church, individual and organizational investors who make our work possible. If you have not had the chance yet, you might take a look at “Our Mission in Action,” an easy-to-understand graphic that explains how CIF works.

We wish everyone the best and God’s blessings as we partner together for the expansion of His Kingdom.