Friday, October 10, 2008 12:27 am

the financial crisis and crash of 2008

Who would have thunk?

Years from now, people will refer to the financial crisis and market crash of 2008 and we can all say: We were there.  And while its affecting so many people, Im especially concerned for the poorest of the poor around the world and for those who are near retirement age that have much of their retirement funds invested in the markets.

And while I do feel incredibly bad for those who are going to be severely impacted, Im also aware that a correction or crash such as this can be good and almost necessary for a world and nation that is ruled by the god of mammon .

Anyway, our church elders/pastors met for our regular Elder Board meeting last night and agreed to devote the entirety of our Giving Sunday special offerings on November 9 and 16 to the Community Benevolence Fund :  50% to local food bank organizations in Seattle and 50% to support the church community at Quest that are in need.  We hope to raise at least $50,000.

We know that the current economic crisis is affecting many people at Quest and we need to prepare ourselves to not just talk about caring for one another but doing it.  In addition to funds, we know we need to be creative:  How do we encourage people to open up their homes if necessary?  How do we allow our church basement to be used for people for temporary housing?  How do we connect people to one another for job openings and leads?  Just this past week, I think I heard of about 10 people that lost their jobs.

• How is this affecting you?   Im assuming it is in some way.
• How are you preparing yourself? 
• How is your church community preparing for this economic crisis ?

Like many of you, the financial crisis is also impacting our family.  We are still trying to sell our home in probably the worst real estate landscape in a long long time.  Weve lowered the price significantly and may need to do so again.  Weve caught the eye of the storm even when I predicted a housing market crash a year ago.

Its also impacting our plans to start the non-profit global poverty organization .  Its very discouraging because some folks that have committed to give have de-committed [if theres such a word.]  We understand their situations and dont hold any grudges.  Honestly, weve personally been swayed [specifically me] in our conviction but we continue to trust God as were as committed in launching the poverty organization by seeding it with our years salary  provided we can sell the home and receive our 501c3 issuance from the IRS.  I feel awkward even asking but please keep us in prayer.

In light of the stunning financial crisis and market crash, the vision of our poverty organization while much more difficult than we had conceived a year ago when we made our video intro and invitation seems even that much more important in light of what we all know: Giving for both local and global causes will be dramatically impacted. 

If youre able, we hope youll consider making a small donation to support our work.  It is incredibly difficult to raise funds when youre still waiting for your 501c3.  You can make a small donation by clicking here:

* If you want your donations to be tax-deductible, you’ll need to wait another 30-45 days before what we hope to be our official issuance from the IRS.  If you mail in a check, we can also hold your check until then.