The Fund

Purpose

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:

  • Finishing Well — Student Loan Support: We are no longer accepting applications for this program as the deadline was June 10, 2019, and all grants have been awarded. Thanks!
  • 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.
  • Christian Day School Tuition
    1. A grant of up to $2,000 or 30% of total tuition bill (whichever is less) will be considered for those pastors whose church does not have a Christian day-school tuition assistance program.
    2. A grant of up to $1,000 will be considered for those pastors with a Christian day-school tuition bill greater than 25% of their total compensation after considering the tuition assistance received or eligible to receive from their church.
  • Retirement Planning: The fund will assist churches and Commissioned Pastors in setting up a retirement vehicle (SIMPLE IRA, IRA, 401K in the United States or Registered Retirement Savings Plan in Canada) that best fits their situation. We will not manage the plan but assist in its creation by funding some of the initial set-up fees. Only Commissioned Pastors are eligible for this grant. Contact shalom@crcna.org for further information on retirement plan options.

What do I need to do to apply?

Salary Supplement Grant

  • Salary Supplement: there are special situations where a salary supplement is necessary for pastors to experience financial health and shalom. In these situations, we are committed to partnering with the local church to provide a salary supplement grant for the pastor. With contributions from the Financial Shalom Fund and the pastor’s church, the pastor’s income will be supplemented up to an additional $12,000 a year ($1,000 monthly) for two years.
  • Salary Supplement Structure: The salary supplement will be given monthly in a laddered fashion, where the church’s contribution will gradually increase over the two-year period.

Example — Annual Salary Supplement of $12,000 for 2-Year Period. If a pastor receives the maximum $12,000 annual salary supplement, then the church’s contribution to the pastor’s salary supplement will increase and compound monthly by $43.48 over the two-year grant period.

 

Financial Shalom Fund

Church

Total

Year One

$9,130.43

$2,869.57

$12,000

Year Two

$2,869.57

$9,130.43

$12,000

Total

$12,000.00

$12,000.00

$24,000

Example — Annual Salary Supplement of $6,000 for a 2-Year Period. If a pastor receives a $6,000 annual salary supplement, then the church’s contribution will increase and compound monthly by $21.74 over the two-year grant period.

 

Financial Shalom Fund

Church

Total

Year One

$4,565.22

$1,434.78

$6,000

Year Two

$1,434.78

$4,565.22

$6,000

Total

$6,000.00

$6,000.00

$12,000

The intent of the salary supplement grant is for the church to be able to sustain the supplement well beyond the two-year period. We will work with each church to develop its own contribution schedule depending on the amount of the requested grant.

What do I need to do to apply?


Fund Application Instructions

  1. 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.
  2. 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.
  3. Once you have saved the form to your computer, you are ready to complete the form.
  4. Open the fillable form and enter the necessary information for the fields highlighted in blue.
  5. 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.
  6. 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.
  7. 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.
  8. Once you have completed the application, save the PDF file once more.
  9. Attach and send via email the completed PDF application and all the necessary financial statements to shalom@crcna.org or hsmall@crcna.org. 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
  10. Receipt of application will be acknowledged with an email.