The Financial Plan


Over the years, there have been many variations of this plan considered, for various dollar amounts. Today's plan - including construction of all the floors and features described here - will cost $7 million.

To make this a reality, we are excited to announce that Care For Friends is partnering with us in the creation of this new Community Center - and that they've already secured $3 million to put towards the project. Adding the

$1 million that has already been collected from our 2012 campaign, and we are more than halfway to our goal.

COS has had a long tradition of being integrated in the local community - and we believe that a partnership with an organization like Care For Friends (which was launched from COS's Food For Friends program) allows for us to live our complete Episcopalian life alongside neighborhood groups who come here to live their full community lives on the same campus.

We know that the specifics of Care For Friends' funding includes some time limits that require us to move forward quickly. Therefore, we are proposing a financial plan with a few components:




COS 2012 Capital Campaign

Care For Friends 

2020-21 Major Gifts


2021 All Parish Campaign

Debt/Building Loan

Grand Total





$1M - $1.5M


$1M - $1.5M

$500k - $1.5M

$6.5M to $8.5M


$1M Collected and Pledged

$3M Secured

In progress now
$225,000 Secured

In progress now

Can secure up to $1.5M

Here are the details on each funding source.

COS 2012 Capital Campaign


In 2012, Church of our Saviour launched a capital campaign to begin work on a parish hall reconstruction project to serve the needs of its own community. $1.5M was pledged in the campaign. The COS Vestry earmarked all funds from that campaign to be used for the exclusive purpose of building the Community Center.


$276k of the 2012 dollars covered the architecture, design, and administrative work done to date, and is why we now have a complete set of buildable drawings for the Community Center. 

There is still approximately $768,000 remaining in the bank from the campaign, and it is ready to be released by the Vestry to this project.


We know that some parishioners made a pledge to the 2012 campaign which they have not yet fulfilled. We expect about $225k of the outstanding pledges to be fulfilled, bringing this bucket of money up to $1M. Any payments above and beyond that amount will start advancing our 2021 Campaign totals.

Care For Friends Contribution

In the summer of 1968, COS opened its doors for the first time to at-risk Chicagoans who sought shelter from the violence surrounding the Democratic National Convention in nearby Lincoln Park. Over time, this grew to a large "Food For Friends" program - which eventually got so large that it made sense to break off and operate as a non-profit organizaton independent of the Church.


Although COS allowed Care For Friends to occupy our current Parish Hall rent free in its first years of operation, they are now completely financially indepedent of the Church - and in fact, pay over $40,000 in annual rent to the parish. They also employ their own staff for volunteer management, security, and operation of their three-days-a-week programming (which includes a hot lunch, medical clinic, foot clinic, job training and enrollment, an after-school program for housing and food insecure youth, and a mobile food pantry).

As a non-religious 501c3 organization, Care For Friends has a pool of donors and grantmakers that are independent of COS. Through these sources, they have secured grants worth $3M to build or buy a permanent home. 

Care For Friends intends to apply this money towards co-development of the Community Center with COS, but must spend it on work that will be completed in 2022 - adding urgency to our timeline.

2020-21 Major Gifts

In the fall of 2020, as it became clear that the Care For Friends contribution would revitalize our campaign, we began talking with donors who could make gifts to the project that would significantly move the project forward. We believe these donors can ultimately fund between $1M and $1.5M of the project.

Today, approximately $225,000 has been secured through the Major Gifts program.


2021 All Parish Campaign

The generosity of generations of parishioners, and the partnership with Care For Friends puts us closer than ever to breaking ground on a new Community Center.  

It will not happen without your support, though.

Based on the success of our 2012 campaign, we believe that a 2021 campaign can raise between $1M and $1.5M in pledges that will be paid across the next three years. We ask that you prayerfully consider how you can best support this project that will ensure COS continues to be an important gathering place for Episcopal communities for the rest of this century.

Debt/Building Loan

If the Major Gifts program and All Parish Campaign are successul in reaching their full goal, there will be no need to take on any debt to build the $7M Community Center.

However, we also have the capaicity to take on up to $1.5M in debt that will be backed by the Episcopal Diocese of Chicago - and we are currently exploring a number of bank and foundation offerings who would extend a mortgage on the building.

The COVID Pandemic has driven interest rates quite low for 30 year mortages. In addition to the 30-year lease payment that Care For Friends is willing to enter into for use of the new building, we also believe that the classrooms on the upper floor are attractive rental space for a variety of preschool, art classes, and other community groups. While we will not secure a specific tenant until we have a specific date for construction to be completed (and even then, only after appropriate discussions with the parish), we have had enough conversations with brokers to be confident that there would be a variety of tenants capable of servicing any debt we take on for the project.