The Cooperative Baptist Fellowship announced Oct. 12 it is accepting applications for grants up to $10,000 to aid pastoral leaders burdened with personal debt.
The Ministerial Excellence Initiative, funded with a $1 million grant from Lilly Endowment Inc.’s National Initiative to Address Economic Challenges Facing Pastoral Leaders, also identifies resources and provides training events to aid in managing and maintaining financial integrity for both pastoral leaders and congregations whose effectiveness is hindered by worries about personal or congregational finances.
CBF Executive Coordinator Suzii Paynter said the initiative could be “a game changer” in helping form healthy churches across the Fellowship.
“Healthy leaders form healthy congregations,” Paynter said. “Pastoral leaders can be negatively impacted by the stress brought about by the debt they carry. The initiatives that this grant undergirds will help ensure the vitality of local congregations by helping to ensure the health of pastors.”
Last December Lilly Endowment made grants to benefit 28 organizations totaling more than $28 million to aid in developing programs to help clergy with financial planning, enroll in pension savings programs, create emergency funds and develop strategies to help young pastors pay down or eliminate educational debt. Other recipients beside CBF include American Baptist Home Mission Societies.
CBF officials said applicants will be evaluated by level of active engagement with CBF, affirmation of required covenant activities, completion of initial financial consultation and financial need related to debt, health benefits and retirement.
Applications can be submitted online through the Ministerial Excellence Initiative page on the CBF website, cbf.net.