1. GILBERT Mission of DCLC

3. 08/21/07DCLC purchased 4.15 acres of land in Gilbert for $935,300.00 10/30/07DCLC signed a 5 Year Lease for Worship Space. 06/01/08DCLC began worship in the Professional Plaza. 04/09/09DCLC received Notice of Trustee Sale for the Professional Plaza and an Estoppel Certificate was put in place to prevent foreclosure. 04/01/10DCLC notified that New York Community Bank purchased Desert Hills Bank holdings from the FDIC and to henceforth pay rent to NYCB. 12/30/10New York Community Bank foreclosed on Owner of the Professional Plaza.

4. 01/17/11DCLC Council opened conversations about options in Gilbert. 02/21/11DCLC Council voted to explore funding options with Mission Investment Fund (MIF) and to let NYCB know of our interest to purchase the Professional Plaza. In addition, DCLC Council called for an Informational Meeting and a Congregational Meeting and Vote. 03/02/11NYCB agreed to sell Professional Plaza to DCLC for $1.05 Million. 03/03/11MIF conditionally approved $1.1 Million to DCLC. 03/12/11Informative Meeting held. 03/20/11Pending Congregational Meeting and Vote

6. MIF Conditional Loan Approval 1.Approval was for $1.1 Million plus they want us to pay off the Land loan, so the final Loan Approval is for $1.877 Million. 2.Current Rent in Gilbert for two Suites is $6,051.36 and the Land Loan is $4,715.00 per month. In August, our Lease is due for another adjustment up to $6,339.99. But for now, we are paying $10,766.36 in rent and mortgage. 3.At $1.877 our mortgage payment will be $9,960.00 with a monthly savings of $806.36 and we would be owning for less than build costs. 4.One Tenant is currently struggling in the Plaza and pays $1,617.00 per month in base rent. Our effective mortgage could be $8,343.00 from the $10,766.36 currently being paid in rent and mortgage.

7. Proposed TGG 2011 Budget Revenue Expenses Pledges166 $ 290,873 * Debt payments $ 142,416 Anticipated Non- pledged giving Rents/Gilbert Chapel & SS $ 72,616 Mission Developer $ 30,900 Latino Ministry $ 15,450 Anticipated Non- pledged giving $ 18,292 Debt Reduction $ 47,783 Total Revenue $ 309,165 Total Expenses $ 309,165 * 11/29/10 TGG Pledge total $ 798,736

8. secure a month-to-month lease well below Market Rates provided we did our own repairs. Soon after the Preschool failed, so did the Nail Salon. A new Nail Salon is trying to make a go of it, but they are off to a slow start. The Lease for the Nail Salon will most likely have a non-disturbance clause allowing them to operate their business – we cannot see the lease until Escrow is opened. Fortunately, the IRS does understand Tax Exempt Business rent space to others. As long as Substantially All of the Property is used for the Tax Exempt Business (as defined by the IRS to be 85%); space can be rented and not jeopardize the Tax Exempt Status. Likewise, other Suites can be rented out, but Missional Functions would be preferred to keep within the 85% Rule. Still, we can always file an Unrelated Business Tax Return Form 990-T and not lose our Tax Exempt Status. From the beginning, space was an issue in Gilbert. We were the first tenants to occupy space and we watched as a Preschool and Nail Salon moved into the Plaza. We wound up subleasing space from Sunrise Preschool who didn’t use their facility on Sundays so that we could offer Sunday School in a more inviting manner. When the Preschool closed, we approach the Landlord about leasing out the space. We were able to

9. Discussion