Thrive in 25
A Vision to See Urban Denver Thrive
From David Warren, Executive Director
In 2022, Open Door Ministries (ODM) celebrates 25 years of addressing the root causes of poverty in urban Denver! Founded on May 1, 1997, providing shelter for unhoused individuals and families coming out of crises has been and will remain one of our highest priorities. As Executive Director since the beginning, I have worked with partners and stewarded resources over the years to build solutions on behalf of the above families. As such, ODM has already been able to pay off the mortgages of five of our ten properties. These properties include: three Still Waters Housing transitional homes for single women, our office building, and the Open Door Fellowship building (housing five ODM programs– Family Room, TRYAD, Downtown Youth, Learning Center, and The Table).
For our 25th anniversary, we’re embarking upon our most ambitious capital campaign to date to see urban Denver thrive in the next 25 years. Our goal is to raise $945,631 in 2022 to complete the purchase of our five remaining properties. What better way to celebrate this incredible milestone than to end the year completely debt free!
Our five outstanding mortgages are for the following properties:
Cornerstone House – $26,619 – home for disabled men
Nehemiah House – $27,896 – home for emergency housing, staff, & intern housing
Te Veo House – $158,080 – short-term home for women in crisis
LightHouse – $333,036 – home for men in addiction recovery
Antioch House– $400,000 – home for affordable staff housing
Why retire our debt?
The remaining debt on these properties, $945,631, is at a 3% fixed, interest-only rate with a 20-year life followed by a balloon payment. Over 20 years, ODM would have to make payments totaling $1,513,010. You read that correctly: $1.5 million dollars! Retiring debt now with Thrive in 25 will remove this looming balloon payment and save ODM $567,379 in interest-only payments.
From another angle, Thrive in 25 will ultimately retire $75,651 averaged annually ($28,369 in interest & $47,282 in annualized principal payments). Funds that would otherwise be budgeted to pay principal and interest will instead be allocated to enrich current services or fund future ministry opportunities in the next 20 years. Imagine the impact! Retiring $75,651 of debt will be the equivalent of serving over 66,000 additional meals per year at our food bank at Westside Church Internacional or serving ten additional women per year through our transitional housing programs.
God is moving in urban Denver…
For the past 25 years, we have served alongside our parent church, Open Door Fellowship, to operate most of our programs downtown on or near Marion St. off of Colfax Ave.–affectionately known as The Block. Some have called it the “Miracle on Marion St.” because of all that God has done on The Block including us acquiring five miracle homes on Marion for $100,000 total!
There is still much work to do on The Block, but God is moving throughout urban Denver. We have the strategic objective to expand and replicate our unique life-on-life discipleship model in the Federal & Alameda area. This is a low income part of Denver just southwest of downtown with needs similar to what we’ve witnessed on East Colfax for the last 25 years. Four years ago, ODM helped plant Westside Church Internacional (WCI) at 3440 W. Louisiana Ave. as a new parent church of ODM. God opened the door for WCI to receive a large church building at that location free of charge, which established a base of outreach operations in this area. At this base, ODM currently operates our Urban Immersion program, a youth center, a food bank in response to COVID-19, and several other neighborhood outreaches.
ODM and WCI are currently working to determine our goals, strategies and projects for future expansion. We have considered duplicating some of our downtown recovery-style housing opportunities in this part of urban Denver. We also see a great need for long-term affordable housing for two reasons: 1) we have many graduates from our current transitional homes who need affordable long-term housing to adequately transition to self-sustainability, and 2) this part of urban Denver is filled with poor working families, including immigrant communities, who increasingly struggle with high rent as gentrification continues and the cost of housing skyrockets across our region. While these initiatives are not yet decided upon, we believe that for ODM to be poised for significant growth in any number of areas, it positions us far better if our current mortgages are paid off.
Our vision is to see urban Denver thrive!
As God moves, we want to free up our finances as much as possible to be ready to act quickly if a unique opportunity such as those described above arises. As you can see, a gift toward Thrive in 25 is both a practical and strategic gift toward God’s work through ODM in urban Denver. We are excited about all the lives that have been restored over the first 25 years of ODM, and we are hopeful about the transformation we will see together in the next 25 as our Lord allows.
Would you prayerfully consider becoming a part of this exciting Thrive in 25 vision?
If you’re ready to “Thrive in 25”, you may give online at odmdenver.org/give or you may give by check and mail it to P.O. Box 18018, Denver, CO 80218. Thank you for your support and prayers as we Thrive in 25 together!