The mission of the Financial Shalom Fund is to provide assistance to Ministers of the Word and Commissioned Pastors within the CRCNA who face financial challenges that impede their well-being and their ministry. The fund’s goal is to help alleviate the financial barriers so our pastors can experience a renewed sense of financial shalom that will help foster excellence in ministry.
Financial Shalom Grants
The Financial Shalom Fund provides grants to address the following concerns:
- Student Loan Relief: A grant will be considered for each applicant where the total current student loan debt of the pastor (and spouse, if applicable) exceeds $30,000.
- Critical Financial Needs: Pastors with specific financial burdens such as health bills, medical emergencies, mortgage payment, credit card debt or other unforeseen financial crises can apply for a grant.
- Retirement Planning: The Christian Reformed Church in North America recently rolled out a new 403(b)(9) retirement plan that congregations in the United States can make available to commissioned pastors and other church staff. Unlike some retirement plans, once the 403(b)(9) begins distributing funds to the ordained pastor retirees, a portion of the payments can be counted as housing allowance for tax purposes. This plan also allows each participating congregation to make their own decisions about which staff are added to the plan, what their employer contributions will be, and when employees will qualify for this benefit, while providing a standardized set of investment alternatives and distribution rules. The new plan is administered by Envoy Financial, which is based in Colorado Springs, Colorado. Financial Shalom is covering the setup fees and the first year’s annual administrative cost of $100 for each participating congregation. To learn more, visit crcna.org/retirement.
What do I need to do to apply?
- Read through the Financial Shalom Fund Application Guidelines to ensure you meet all eligibility criteria.
- Complete the application for the desired grant using the Fund Application Instructions or see instructions below.
- Gather and submit with the application the required account statements (student loan, medical bill, credit card, etc.) for the grant you seek.
- Our Financial Shalom program is currently undergoing program modifications and a staff transition. Grant applications are being accepted, but no award decisions will be made until late April 2020.
Fund Application Instructions
- The applications are fillable, interactive forms using Adobe PDF technology. If you do not have the free Adobe Acrobat Reader, please download the latest version.
- Before completing the application, please save the PDF to your computer
- Right click on the form and click “save as”
- Save to your desktop or documents file using your name. For example, JohnDoe.pdf.
- Once you have saved the form to your computer, you are ready to complete the form.
- Open the fillable form and enter the necessary information for the fields highlighted in blue.
- For questions that ask for a dollar amount, please enter only the number amount and not any symbols or commas or periods. For example if entering $55,000.00 only type in 55000. The Adobe form is formatted to add the symbol, comma, period, and so forth.
- The Adobe forms will automatically adjust the font size when typing long paragraphs. Sometimes the paragraph text box might show up as black. Double click on the text box and it should return to its proper default style.
- FYI: Some applications (Student Loan Relief and Salary Supplement) ask for the totals of various statements or budgets. The Adobe forms are formatted to automatically calculate the sum based on the amounts you enter.
- Once you have completed the application, save the PDF file once more.
- Attach and send via email the completed PDF application and all the necessary financial statements to email@example.com. Our email is secured and encrypted.
- We prefer to work with electronic forms whenever possible. Thank you!
- If you are having technical difficulties, please complete, print, and mail all documents to:
Financial Shalom – Project Manager
1700 28th St SE
Grand Rapids, MI 49508-1407 USA
- Receipt of application will be acknowledged with an email.