The Ukrainian Cultural Center in Whippany has become an important focal point of Ukrainian culture, art, education and ethnic heritage in Northern New Jersey. A true community, our many member organizations play an important role throughout the year in supporting the UACCNJ by:
- hosting their quality events and programs for the Ukrainian-American community, leveraging the many facilities that the UACCNJ has to offer,
- encouraging others outside our immediate community to take advantage of our beautiful center for their events and programs and,
- championing direct fundraising campaigns, such as our marquis Festival, to help reduce the sizable debt carried on the books of the UACCNJ.
Many of our community members may not be aware of the fact that despite all of these efforts, the funds raised and revenues earned throughout the year generally only allow us to cover the annual operating expenses of the UACCNJ–they run short of covering the full amount of our annual loan/mortgage payment. No additional funds remain to reduce the substantial debt associated with the UACCNJ’s mortgage obligation which as of June 2016 stands at $2,060,000.00. This means the UACCNJ runs on a deficit on an annual basis. Further, it is estimated currently that at the end of our 12 year Balloon Mortgage term in December of 2019, we will have $1,863,000.00 to pay off on our obligation. Clearly, we need to come together as a community now to chip away and reduce this debt as waiting for funds to appear in 2019 to pay off a debt obligation of this size at one point is unrealistic.
In early 2015, we began a debt reduction campaign focused on asking members of our community to become regular donors to the UACCNJ to help reduce our debt obligation. Our early subscribers, a small handful of community members, helped us pilot the program in 2015 and their monthly contributions were responsible for approximately $5,000 of our debt reduction in 2015. Our objective is to now expand beyond our pilot program and encourage all members of our community to become subscribers to our debt reduction campaign through either regular monthly donations set at a level comfortable to each individual or through a one-time contribution to the campaign. Think about this…if 100 members signed up to contribute $20 per month, we would have $24,000 to put toward reducing our mortgage debt annually. We hope as a community we should be able to do even more.
Become a supporting member of the UACCNJ by subscribing to a monthly automatic payment to be deducted from your credit or debit card via our payment management site, PayPal. You do not need a PayPal account to subscribe. You can choose the monthly donation amount most comfortable for you by clicking on the appropriate link below. Note, monthly payments may be discontinued any time. Alternatively, consider making a one-time donation through the PayPal site.
All donations will be applied directly to reducing the debt above and beyond what is achieved by our regular monthly mortgage payments. All donations are tax deductible and will be reported to the community in aggregate on a quarterly basis and on the final annual report of St. John the Baptist Ukrainian Catholic Church… the owner of the UACCNJ property.
Your support is appreciated and needed. Help us “burn the debt” so that the funds we raise over time can be directed not toward paying down a mortgage, but instead toward maintaining our Ukrainian American Cultural Center as a high-quality facility and toward further expanding the programs and events it offers to the community. If you have any questions or need any help, please contact firstname.lastname@example.org.
Support Our CenterUkrainian American Cultural Center2019-02-24T21:39:08-05:00