Making the Need Known Frequently Asked Questions

Why did you borrow more money?
This bond allowed the BA to lower the interest rate on the outstanding $8 million mortgage on our Christian Science nursing building.  It also gave us money to renovate and repair the Original Building and provided much needed working capital while we worked to achieve the key areas identified in our business plan to bring the BA to financial stability.  read more

Would you elaborate on some of the “unexpected financial challenges” referred to?
Yes.  In 2008 the BA faced what many have called the “perfect storm.” The most significant challenge was Medicare’s decision to no longer reimburse the BA for Christian Science nurses training costs.  Medicare applied its decision retroactively to the year 2002, which resulted in lost revenues of $900,000 in 2007— leaving us with limited cash reserves.  The BA also had unexpected payments of about $300,000 (a principal payment on the loan of $200,000 and property taxes of about $122,000), and was impacted by a drop in investments, lower bequests than expected, and a drop in our Christian Science nursing revenues.  read more

“I don’t have a lot of cash, how can I help?”
There are many ways to support the BA financially.  Here are a few ways.

• One easy way to make a gift is to make a small monthly contribution. For example, if you give $10 per month, it will be a gift of $120 per year.
• Those who don’t feel they have the funds to make a gift now can include the BA in their estate plans. Bequests are important to ensuring the future of the BA.
• Another way is to take advantage of a special law passed by Congress concerning IRAs. If you are required to take a distribution from your IRA, you have the option of giving this money to the BA. And you don’t have to pay taxes on the distribution
• You can also talk with your branch church and Christian Science Association about making a gift.