K-State Wesley Pays Off $1 Million Mortgage

August 7, 2020

In 2008, ministry leaders at K-State Wesley took a leap of faith when they applied for a $1 million mortgage to purchase a new building for the campus ministry. 

After looking at different properties, an old fraternity house came up for sale. It was quickly determined that this property would be the next home for the campus ministry. 
“We were most interested in a solid, obvious place to operate the ministry,” Rev. Jim Reed, Director of Development of the K-State Wesley Foundation said. “Because the building has a residential hall, we could build a Christian community on campus.”

In order to turn the dream of purchasing the new building into a reality, the campus ministry knew that they would need a loan. 

“The first place we went was the Kansas Area United Methodist Foundation because it is a United Methodist institution,” Jim said. “We don’t know what would have happened if the Foundation would have said no.”

In the first few years, the mortgage was paid through the student fees from the residents who lived in the building. As the University enrollment fluctuated and the housing options were changing, the ministry leaders knew they needed another plan. In January 2017 the “Finish the Dream” campaign was launched with the goal to pay off the remaining $571,000 owed on the mortgage.

With the support of hundreds of donors and the Great Plains Conference, the mortgage was paid in full in July 2020. 

“With the building paid off, it gives us greater freedom,” Jim said. 

Next, the K-State Wesley Foundation plans to work on building enhancements and raising funds for special projects. 

“We are very thankful to the Foundation for making it (the loan) happen and standing by us,” Jim said. 

The Kansas Area United Methodist Foundation is honored to partner with K-State Wesley and grateful for the many Certificate of Participation holders who help make the loan ministry possible. 

“The Foundation’s partnerships with many faithful Certificate of Participation holders and the United Methodist Development Fund allow us to help make visions a reality for churches and ministries across the Great Plains Conference,” Rev. Dr. Dustin Petz, President of the Kansas Area United Methodist Foundation said. 

The loan ministry is just one way that the Foundation is working to leave a lasting legacy across our connection. If you are interested in more information about the loan ministry, please visit www.kaumf.org/loans

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