Search

Ministerial Excellence Fund

Financial Relief and Financial Literacy Education to Clergy and Families

The mission of the Ministerial Excellence Fund is to provide financial relief and financial literacy education to clergy and their families who are experiencing financial emergencies or distress. Recognizing the unique relationship between clergy and their congregations, the grant-making process is designed to be a catalyst for authentic and informed conversations regarding the unspoken financial challenges and sacrifices of ministry.

Seminary Loan Repayment

The diocese offers loan assistance to active, stipendiary and non-stipendiary clergy serving congregations.

The Ministerial Excellence Fund provides $500 for loan assistance to each eligible person submitting an application. Additionally, the Fund will match the applicant’s personal loan payments made in 1/12th increments for each year of participation in the program. For example, a cleric participating for the first time will receive $500 plus a 1/12th match of personal seminary loan payments made the previous year. During the second year, the cleric will receive another $500 plus a 2/12th match of personal payments made, and so forth.

  • Clergy who wish to participate in the program must submit the appropriate 2022 loan payment documentation and application to the Canon for Administration and Evangelism by February 28, 2023Complete the online application.
  • Payments will be paid directly to the lending institution(s).
  • For clergy employed for a partial year, the diocese will pay $500 for the previous year. The 1/12thmatch will kick in on the cleric’s first full year of employment,
  • If a cleric is able to make an unusually large payment in a single calendar year, the Ministerial Excellence Fund will match the payment up to $5,000.
  • If a cleric pays off his or her loan during the calendar year, the cleric should contact the Canon for Administration and Evangelism to negotiate the final estimated match.
  • The diocese through the Ministerial Excellence Fund provides assistance for seminary debt only at this time.
  • Clergy receiving seminary aid are responsible for paying all applicable income taxes based upon current IRS and state guidelines for the full amount paid to lending institution(s). Please consult your personal professional advisor for more information.

Seminary Scholarships

Financial support from the Ministerial Excellence Fund is available to diocesan seminarians to assist with seminary tuition and living expenses. Please contact Brendan O’Sullivan-Hale, canon to the ordinary for administration and evangelism, for more information.

Financial Consulting and Counseling

All clergy and their spouses or partners may take advantage of personal financial counseling and advising for one year free of charge with Lisa Brown, CPA and MBA, of Highfield & Associates. To schedule your personal and confidential appointment, please contact  Brendan O’Sullivan-Hale, canon to the ordinary for administration and evangelism.

© 2021 Episcopal Diocese of Indianapolis