FORGE

additional $14.2 million to nance the building of its worship center, King said.

By 2017, the ministry had only paid o about $1.4 million, leaving Faith with a debt of $19 million. At that point, the ministry began working to cut its overhead, with King stating that they were “led of the Lord.”

As of December 2022, Faith had paid o $4 million of the $19 million-dollar debt. ese issues called for Faith to sell the Carr Street property to Grace, in what King called a “Kingdom Transaction.”

However, Grace — which paid $12 million from the Carr Street campus — seems to be over budget, according to Long.

Long said that Grace raised $4 million in cash from Grace’s congregation and raised an additional $2.4 million in three-year-pledges. He then added that renovations for the campus have exceeded the original $2 million budget by the same gure — creating a $2 million “shortfall,” according to Long. e pastor also added that Grace took out a $7 million loan from their bank as well, which will eventually need to be repaid.

“We’re raising the money to do this,” Long said. “We raised $5 cash and got a $7 million loan from our bank — we have a great Christian banking institution, they’re wonderful — then, we raised another $2.4 million in three-year pledges. What we’ll be working on over the next three years is continuing to add to that number in three-year commitments.”

Long said the debt relief will come from those three-year commitments. He added that Grace has about $7 million worth of equity at their Arvada campus.

Among the renovations, Long said, are added security measures, including a $1 million fence around the parking lot to prevent auto thefts and other issues. Long said that other renovations include updating Faith’s signage with Forge’s logos, which he hopes will give the school its own unique identity.

Long said he does not expect the school to be for pro t.

“To operate both the church and the school, we have no desire to make money from the school, just break even,” Long said. “ e church is not in this for money. When I look at the challenges nancially ahead of us, the biggest thing is just getting the safety and security of the school covered.”

Long said renovations are on track to be completed by the beginning of the school year, which kicks o on Aug. 10 with back-to-school night, while the rst day of school will be on Aug. 16. Enrollment is open until Aug. 1.

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