Lakewood Baptist Church
Lakewood exists to glorify and enjoy God by making disciples of Jesus Christ.
What would the impact of a mortgage be?
LBC has been debt free for many years. If we find it necessary to assume a mortgage with the following terms: 20 years at 4.50%, the monthly payment would be approximately $633 per $100,000 borrowed.
Will the church save any money by building?
We currently pay monthly rent for our modular building in the amount of $______ per month. The new building would eliminate the need for the modular building freeing up that monthly amount.
What do we do if we don’t meet our target, do we still build?
At this point in our campaign, we believe it is not a question of “if” but “when” we begin building. The question of when we break ground is dependent on a number of variables, including: how much are we able to sell the back property below the lake for? How much does the actual building cost end up coming in at? How much does the site work end up actually costing? And yes, how much do we as a church body end up actually pledging to this campaign? Worse case scenario, we would re-launch a second round of fund raising in 3 years after this campaign is complete. We ask that you pray for God’s provision to be timely, allowing us to move forward with building sooner rather than later.
Have we considered just building offices and classrooms?
Isn’t our existing sanctuary adequate? Our existing sanctuary is not adequate. If we were to only build offices and classrooms, our current sanctuary would become even less adequate than it already is. It is important that we build adequate facilities that will allow us to grow across all segments of church ministry: corporate worship, Sunday School, children’s ministry, and youth.
When will there be a vote on moving forward?
At the business meeting on May 22, 2019, the Building Committee announced the direction it was moving in. This announcement included the type of building we were planning and the fund-raising campaign we are now conducting. There will be a vote prior to any commitment to spend and/or borrow funds to break ground and begin building.
When will we break ground?
It is difficult to give a definite date for when we will break ground. This will depend on a number of variables, including: how much the building fund campaign receives in pledge commitments, how much we sell the back of the property for, how much the final construction cost comes in at, how much the final site work costs, etc. While we will not break ground until we have secured funding to finish what we begin, we believe it is likely we could break ground in 1 – 3 years.
Will we have to pay architect fees again?
No. (I think we should exclude this question form the FAQ and deal with it on an as-needed basis).
Will anyone know how much I’ve given to the building fund?
The church Financial Secretary is the only person who will have knowledge of any gift amounts. This is the same person who processes tithes and prepares tax statements for all other giving.
Who can I talk to if I have questions or need assistance with gifting assets or investments?
If you have questions or need help with gifting assets or investments, we recommend you contact Richard Carnes at 502-489-3421. Richard is the President & CEO of the Kentucky Baptist Foundation. He is located in the offices of the Kentucky Baptist Convention.
Can I donate Series EE Bonds?
Yes. However, donating Series EE bonds will not allow you to avoid paying taxes. You will owe tax on whatever interest the bond has earned up to the time you reissue it to the church.
How can I gift shares of Stock or Mutual Funds?
Lakewood Baptist Church has established a brokerage account with Fidelity for the purpose of receiving these gifts. You can contact the church Financial Secretary, Linda Creech, for the necessary form to facilitate these gifts. Linda can be reached at 502-649-6001.
How can I gift from my Individual Retirement Account (IRA)?
If you are age 70 ½ or older, you must take a Required Minimum Distribution (RMD) from your IRA each year. This RMD is taxable to you as ordinary income. Instead of taking the RMD and paying taxes, you can tell your IRA Custodian you want to make a “Qualified Charitable Distribution” (QCD) from your IRA. They will make the check payable to Lakewood Baptist Church and no taxes will be owed. Keep in mind, you must be at least 70 ½ years old when you request the QCD or the distribution will be treated as taxable income. Also, the check must be made payable to the charity; if the check is payable to you, it will not qualify as a QCD and would be treated as taxable income. Account types that are eligible for QCD’s include:
- Traditional IRAs
- Inherited IRAs
- SEP IRA (inactive plans only)
- SIMPLE IRA (inactive plans only)
- Your IRA Custodian may need the follow information to process a QCD:
Who to make the check payable to: Lakewood Baptist Church
What is Lakewood’s Tax I.D. Number: 61-1149258 (FEIN)
Where to mail the check to: Lakewood Baptist Church
13803 Shelbyville Road
Louisville, KY 40245
In 1986, Hurstbourne Baptist Church saw the need for a new church to be started in the rapidly growing East End of Louisville in order to reach people for Christ. As a result, on March 17th, 1987 a small group of 5 people met for a prayer meeting in the home of Al and Brenda Harris in Beckley Woods subdivision. In May of 1987, Dr. David Harris was called as full-time pastor for the new mission church.
In July 23, 1987 Lakewood’s present property site was purchased. The property originally consisted of 23 acres of rolling meadows with trees surrounding a small lake. The first Sunday service conducted on the new property site was September 20, 1987 in the pre-existing 10 room farmhouse. One year later, Lakewood Baptist Church was constituted into a church on September 25, 1988 with 59 charter members. Lakewood broke ground on its beautiful worship center in late fall of 1988. The construction of the worship facility was a labor of love. Church members and Baptist Builders from other locations joined in a team effort to construct God’s house.