Two grants of the Ministerial Excellence Fund have now been opened to aid in the financial freedom of our rostered ministers. Read on and apply if you qualify. Online application links are posted below.
Grant for Educational Loan Reduction
Rostered ministers who are paying on educational loans taken out to pursue your call should apply for the grant which will make a payment on that loan. This year we have increased the grant to $3,500 for those who complete these requirements: Annual Report to the Bishop completed; Congregational Parochial Report completed; LSS Financial Check-in session. Those who complete the first two requirements but do not complete a LSS Financial check-in are only eligible for a $1,750 grant.
Retirement Readiness Grant
There are two grants which will boost the retirement accounts. The first is a match of up to $600 available to those who make personal contributions to their retirement funds. The second grant is to rostered ministers who are paid below guidelines (90% or lower) or are in a part-time call. A $600 grant is paid to your retirement account. You can receive both if you qualify.
We thank the generosity of SW MN people and congregations along with
Lilly Endowment Inc. for making these grants possible in our Gifts of Grace Program.
Gifts of Grace Ministerial Excellence Fund
Three categories of grants are currently being offered:
Reduction of Student Educational Loans (Up to $3,500),
Retirement Readiness (up to $1,200) and
Medical Expenses (up to $1,000).
Applications for Reduction of Student Educational Loans and Retirement Readiness Grants are open from April of 2021 – October 18, 2021.
Applications for Medical Expense grants may be received throughout the year.
Please read the guidelines and requirements for each grant, included in the top section of the online application:
-2021 Reduction of Educational Loans Grant Application
-2021 Retirement Readiness Grant Application
-Medical Expenses Grant Application
These grants are made available through generous gifts to our Gifts of Grace: Toward Financial Wellbeing program and matching funds provided by Lilly Endowment Inc. If you have questions, please contact Pr. Andrew Hermodson-Olsen, 507-375-3472, [email protected].
