The Society for the Increase of the Ministry, with support from the Episcopal Church Foundation, and in collaboration with many groups and individuals, has launched a long-term effort to create a national endowment for Episcopal seminarians. The financial goal is to raise $200 million over the next 20 years. The Society has determined that $10 million in endowment income is needed to provide needs-based scholarship grants to those students who have financial needs.
Seminarians, approved by their bishops and diocesan commissions on ministry, who are studying for the Master of Divinity degrees at any of the 11 Episcopal seminaries, will receive the grants based on financial need. The purpose of the endowment is to help ensure that seminarians will not add more debt while they are in seminary. As funds are received, grants from the earnings on the endowment will be made to seminarians starting in the 2006-2007 academic year.
The endowment funds will be invested through the Society’s endowment or the Episcopal Church Foundation’s Investment Management Services, according to the donor’s preference.
The endowment fund is one of three SIM initiatives to help solve the funding crisis of seminarians. The other two efforts will provide:
- Resources to aspirants to holy orders and those in authority in the discernment process to identify, confront and manage accumulated debt prior to a person’s entering seminary.
- Advice and counsel to ordinands during the final year of theological education and training and upon arrival at his or her first assignment on how to accelerate the paying down of their debts and equipping newly ordained clergy with strategies for enlisting the help of the employing parish in beginning to reduce the accumulated debt.
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Financial Planning Tool 
