The CRC's Financial Shalom project supports and sustains pastors for ministry by providing grants and financial stewardship training to pastors facing a variety of financial challenges. To date, Financial Shalom has already assisted over 60 pastors and their families with grants for student loans, Christian school tuition, medical bills, mortgage payments, immigration fees, and credit card debt.
We recently updated some of our program guidelines in order that we can support even more CRC pastors and their families. Listed below are some of the major changes.
Maximum Grant Amount
Previous Guideline: Grant recipients are eligible for a one-time grant of up to $2,000, but can apply twice for a grant over a three-year period.
Revision: Pastors may receive a one-time grant of up to $4,000 from Financial Shalom.
Student Loan Relief Grant
Previous Guideline: Pastors whose student loan debt exceeds $50,000 are eligible for a grant.
Revision: Pastors whose student loan debt exceeds $30,000 are eligible for a grant.
Salary Supplement Grant
Previous Guideline: Pastors whose compensation is lower than the minimum compensation rate for their respective classis are eligible for a salary supplement grant of up to $12,000 annually ($1,000 monthly) for two years. The pastor's compensation must be within $12,000 of the minimum compensation rate and only organized churches can participate.
Revision: Pastors whose compensation (salary + housing allowance) is lower than the minimum compensation rate for their respective nation are eligible for a salary supplement grant of up to $12,000 annually ($1,000 monthly) for two years. The minimum compensation rate is $65,457.35 for the USA, and C$76,350.00 for Canada. If a pastor's compensation is far below that target rate, the church can request a salary supplement that they believe is sustainable after the two-year period concludes. Organized and emerging churches can participate in the program.
Check out our website below for more information on each grant and consider applying today!