1. The Summit Davis Building | facts & figures

2. Contents Summit Background | Overview The situation | Challenges
Evaluating the Opportunity | Davis Building
Increasing Membership
Financial Growth
Good Location
Income Property
Figures ($)
Questions | Comments ?

3. Summit Background | Overview
The Summit is a new church plant in Sault Ste. Marie. We started out as a campus church located at Sault College and then Algoma University. Over the past few years we have grown considerably and as a result we’ve morphed into a full intergenerational congregation.
New church plant
Started as campus student church
Grown considerably
Now intergenerational congregation

4. The Situation | Challenges
Inconsistent meeting locations
Burnout among volunteers (set-up and tear down each week)
Limited options to gather at other times during the week
The Summit is continually faced with challenges such as inconsistent meeting locations within the University as well as burnout among volunteers who set-up and tear down each week. We also have very limited options to meet at other times during the week.

5. Evaluating the Opportunity The Davis Building

6. Evaluating Our Strengths
Increasing Membership
Financial Growth
Good Location
Income Property
Our Strengths
Evaluating Our Strengths

7. The Summit | Strengths Increasing Membership
Year after year, The Summit has experienced significant growth in new members. We anticipate this trend will continue for many years to come. This year average attendance has been 85 people , last years was 60 and the first year was 30 on average. Note… many of our ‘new’ members are new Christians! – not just Christians from area churches.

8. The Summit | Strengths Increasing Membership Financial Growth 2008
As a result of our growth in new members we are starting to see growth in finances. As many of our members mature in their faith, many are beginning to understand the importance of supporting our church through tithes and offerings.
Summit Income / Year
2008
$ 151,901*
2007
$ 84,443 +
85 people avg
2006
$ 69,000
60 people avg
2005
$ 36,000
30 people avg

9. The Summit | Strengths Increasing Membership Financial Growth
Good Location
The Davis building is in a very high profile location – across the street from our brand new Steelback Centre. This building is in the heart of the city on our main street downtown. The primary benefit is visibility however this could also be a very attractive investment opportunity.

10. The Summit | Strengths Increasing Membership Financial Growth
The Davis building property is an income property with office space currently generating $36,000/yr. This property has the potential to generate an additional $21,000/yr for space which is currently vacant.
Increasing Membership
Financial Growth
Good Location
Income Property
$36,000/yr rental income
zero property tax (church)
Tax rebates available
Renovation grants available

11. The Davis Building | Downtown

12. Financial Analysis | Figures ($)

13. Figures ($)| Financial Overview 2004-2008
2005
2006
2007a
2008b
Opening Balance -
7,565.00
4,223.00
11,315.00
28,223.00
Income
9,041.00
36,391.00
68,800.00
84,443.00
151,901.00
Expense
1,476.00
39,723.00
61,718.00
74,735.00
151,810.00
Total (Net Income)
4,233.00
28,314.00
% Change (income)
302%
89%
33%
80%
% Change (net income)
-44%
167%
149%
>1%
a - YTD (Oct 25) & Projected Nov/Dec
b - Budget

14. Figures ($)| 2008 Budget Opening Balance 28,223 Income Church Income
116,009*
Property Income
35,892
20,900
Potential Income
(Vacant Space)
Total Income
180,124
201,024
Expenses
Church Expenses
70,482
Property Expenses
81,328
Total Expense
151,810
Total (net income)
49,214
(Potential Net Income)
Tithes & Offerings = $97,109
2007 = >$70,000

15. Figures ($)| Building Acquisition Costs
Davis Building | 302 Queen St. & 18 King St.
Building Purchase Price
315,000
(List = $419,000)
Legal Fees
10,533
Property Inspection
1,643
Renovations
50,000
Total Expenses
375,533
Financing
The Summit
25,000
PAOC
350,533
Total Financing

16. The Summit Davis Building - facts and figures
QUESTIONS?
COMMENTS?
The Summit Davis Building - facts and figures