Making a big bet on building a Development Office

What seems the biggest gamble in the 2013-15 budget has been largely overlooked in the initial round of commentary. On line 6, page 3 of the draft budget, the church proposes to spend $3,766,300 from the principal of its endowment for a development office. Assuming even a modest return on an investment of a sum of that size, the church would have to raise about $4 million just to break even in this triennium. I am not beyond being persuaded that this could turn out to be a good investment. But I really need someone to make the case, especially considering that the Development Office, previously known as the Mission Funding office, lost money during the last triennium, and alienated numerous bishops by showing up in their dioceses to cultivate donors unannounced.

Download the proposed budget.