The Lilly Endowment in Indianapolis has announced grants totaling more than $28 million to organizations working to help pastoral leaders address financial challenges.
Awarded through the endowment's National Initiative to Address Economic Challenges Facing Pastoral Leaders initiative, the grants to a variety of church-related institutions in different faith traditions will be used to provide incentives for clergy to take part in financial education, match contributions to their pension savings programs, help young pastors pay down or eliminate their educational debt, and create new scholarships for seminarians. In addition, the Indianapolis Center for Congregations received a grant to coordinate the initiative and help the endowment track its success.
"Pastors, especially those just beginning in ministry, accept low salaries as part of their commitment to God and to church," said Christopher L. Coble, vice president for religion at the Lilly Endowment. "Many enter ministry with significant educational debt from their undergraduate and seminary years and often have little financial resiliency when financial emergencies arise."
For a complete list of grant recipients, see the Lilly Endowment website.