TheLeader VOLUME XXVI ISSUE1 Winter2025 - Flipbook - Page 29
G R A N T S
AT
W O R K
Clergy Family Initiative’s Ministerial Excellence Fund
Funded with $200,000 Matching Grant
Leadership 100 has funded the Clergy Family Initiative
(CFI) of the Center for Family Care’s Ministerial
Excellence Fund (MEF) with $200,000 as part of the Lilly
Endowment matching grant requirement. The primary
purpose of the grant is to cover the CFI Grants to Clergy
currently enrolled in the Dave Ramsey Program for
personal financial literacy. The secondary purpose of the
grant is to strengthen the financial literacy of Clergy
families, and to improve Parish leadership through this
knowledge. The Leadership 100 grant is used solely for
the Ministerial Excellence Grants, according to Fr.
Constantine L. Sitaras, Adminsrator of the Lilly
Endowment Clergy Literacy Program, Director of
Family Ministry and Director od Saint Basil Academy.
Fr. Athanasius Demos, Administrator of the MEF, who
reports monthly on the progress and success of the
program, personally supervises the enrolled Clergy, and
mentors them throughout the process of gaining
financial literacy and in application for the need-based
grants. Grants were disbursed directly to the educational
or medical agencies in which debt was incurred.
At this time, 43% of the Clergy of the GOA have
participated in the Lilly grants obtained through the
Clergy Family Initiative. In phase one and two of the
MEF Grant programs, 104 Clergy families have been
awarded grants. In this present phase (Phase 3), there are
37 new Clergy families who are applying for grants, and
3 grants have been awarded. In addition, there are 37
Presvyteres who are currently enrolled in the Dave
Ramsey Financial Literacy Programs. In total, there have
been 174 enrollees in the Lilly Grant programs, with 107
grants of up to $10,000 each awarded to date to eligible
Clergy who had completed the programs. Further
attesting to the success of these programs, 33 clergy
families have waived the grant simply due to improved
circumstances via the education alone. As of the most
recent survey in February 2024, the following statistics
were obtained:
• 92% have increased their savings.
• 63% have established investments.
• 93% have established an emergency fund.
• 82% have a stable budget in place.
• 90% have a savings account.
• 77% have established and increased their retirement
funds.
Leadership 100 grant monies were used to meet the Lilly
Endowment Match in 2023, and to begin a new phase of
assessment of Clergy applicants who had been on the
waiting list. At this time, the CFI Endowment can fund
the Financial Wellness programs including the Dave
Ramsey Financial Literacy Program and the Pete the
Planner Program (the follow-up individual financial
coaching program offered after the completion of the
coursework) at a cost of $10,000 per year.
In the past six months, the Clergy Family Initiative has
successfully fund-raised such that the Lilly Grant match
has been obtained, setting the stage for continuation of
the Financial Literacy and MEF programs. In addition,
an Endowment Agreement has been created, and a
Morgan Stanley Endowment Fund established with a
balance of $254,542.55. The fundraising infrastructure
prepares a foundation for the future distribution of MEF
Grants to Clergy families. In the future, it is anticipated
that a $4 million Endowment corpus will easily create
interest in funding 10 Ministerial Excellence Grants per
year.
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