ASSEMBLIES OF GOD
The Retirement Kickstart Plan was developed to help churches and ministers partner together to plan for retirement. The plan requires involvement from three key stakeholders: you, your church, and the Empowering Stewardship group.
Here are the details:
Eligibility:
- Applicant must be a credentialed Assemblies of God minister in good standing.
- Applicant does not have an MBA retirement account, or has not contributed to their MBA account in the previous twelve months.
Grant Details:
- A one-time Retirement Grant up to $1,500 will be considered for eligible ministers.
- A total lifetime maximum of Empowering Stewardship grants per minister is $3,000 (equivalent to two grants).
- Grant funding is limited and is not guaranteed.
Grant Process:
- Applicant completes and submits the application.
- An email will be sent to the applicant with details regarding next steps they must take before receiving a grant. This email is very important as it gives details regarding the online, personal finance course Empowering Stewardship grant applicants are required to complete as well as contact information for AG Financial in order to open an MBA account.
- Open your MBA account and begin making monthly contributions. Send an email to es@ag.org with the date of your first contribution.
- Your church will need to adopt a retirement contribution policy and begin making monthly contributions to your MBA account.
- Once the applicant completes the final exam of the online course, Empowering Stewardship will contribute $1,500 to the applicant's MBA account.
- NOTE: PLEASE COMPLETE THESE STEPS WITHIN 60 DAYS. AFTER 60 DAYS WE WILL NEED TO RELEASE THESE FUNDS AND YOU WILL NEED TO REAPPLY.
*AGWM missionaries generally are not eligible for these grants, but may be approved for a Financial Success grant on a case by case basis.
The Empowering Stewardship program was created to promote financial health and literacy for Assemblies of God ministers. Providing financial grants to help ministers reduce the cost of education is one way we accomplish our mission.
Program #1: Matching Student Loan Grant
The Empowering Stewardship Matching Student Loan Grant is designed to help ministers reduce the burden of student loan debt. This grant requires the employing church to provide a matching contribution which can help drive down our minister's existing student loan debt.
One-time Matching Student Loan Grant requests up to $1,500 will be considered for eligible Assemblies of God ministers when matched by the minister’s church or 501(c)3 employing organization.
Eligibility:
- Grant applicant must be a credentialed Assemblies of God minister in good standing.
- Applicant must have student loan debt.
- Multiple credentialed ministers at the same church are eligible.
- Employer must complete the application. The application allows the employer to apply on the behalf of up to three grant applicants.
- Employer agrees to provide $1,500 or more in a matching grant and send both grants to the minister's student loan provider or reimburse the employee with proper substantiation.
Grant Details:
- A one-time Matching Student Loan Grant up to $1,500 will be considered for eligible ministers.
- A total lifetime maximum of Empowering Stewardship grants per minister is $3,000 (equivalent to two grants).
- Grant funding is limited and is not guaranteed.
Grant Process:
- Church or religious organization submits the completed application on the behalf of up to three employees.
- An email will be sent to the church or religious organization with details regarding next steps EACH APPLICANT must take before receiving a grant. This email is very important as it gives details regarding the online, personal finance course all Empowering Stewardship grant applicants are required to complete.
- Grant funds will be sent to the church, for each applicant, after they have completed all requirements.
- NOTE: PLEASE COMPLETE THESE STEPS WITHIN 60 DAYS. AFTER 60 DAYS WE WILL NEED TO RELEASE THESE FUNDS AND YOU WILL NEED TO REAPPLY.
IMPORTANT TAX INFORMATION
For a grant to be tax-free to the minister, the church/organization who is providing matching funds must have an IRS-qualified education assistance program in place. A sample template for establishing an Educational Assistance Program can be downloaded here: Employer Educational Assistance Program Template
Note: Churches without an education assistance program policy ARE still eligible to participate in this grant. The church will need to make the student loan payment taxable to the minister.
*AGWM missionaries generally are not eligible for these grants, but may be approved for a Financial Success grant on a case by case basis.
*********************************************************************************************************
Program #2: Empowering Stewardship & AGTS Partnership
The AG’s Empowering Stewardship is pleased to announce a partnership with the Assemblies of God Theological Seminary. In order to help AG ministers seeking a master’s degree, the Empowering Stewardship program has provided $26,000 to AGTS to help provide scholarships to AG credentialed ministers. AGTS has matched these funds to provide a total of $50,000 in scholarships to AG Ministers. Scholarships up to $3,000 per credentialed minister, per year, will be available to help reduce the cost of tuition.
For nearly 50 years, AGTS has helped the fellowship prepare pastors, chaplains, and missionaries by equipping and re-equipping them to reach a world that badly needs Jesus. There are several ways the seminary helps:
AGTS has several online and hybrid degree programs that are available from almost anywhere in the world and designed specifically for Spirit-empowered ministers in Pentecostal ministries.
The degree programs provide new leadership skills and resources to help ministers disciple and reach out to their communities, wherever they are. AGTS provides seasons of refreshing, equipping, and even re-equipping for ministers to help them run the race well for the long-term and finish well.
To help ministers enjoy more of the fruit of their ministry, Empowering Stewardship is partnering with AGTS to offer $50,000 in scholarships for AG ministers interested in pursuing a higher education degree. This will help ministers who feel called to further education the way forward to reach the fullness of their callings.
And it’s easy: Simply contact AGTS at 417.865.2815
The Financial Success Grant is designed to help credentialed ministers who have a pressing financial need. The applicant can request financial assistance for needs related to medical expenses, rent, mortgage or utility payments, groceries, home or vehicle repairs, etc.
Eligibility:
- Applicant must be a credentialed Assemblies of God minister in good standing.
- Applicant can request financial assistance for any pressing financial need (i.e. medical expenses, assistance to pay rent, mortgage or utilities, purchase groceries, make home or vehicle repairs, etc).
Grant Details:
- A one-time Financial Success Grant up to $1,500 will be considered for eligible ministers.
- A total lifetime maximum of Empowering Stewardship grants per minister is $3,000 (equivalent to two grants).
- Grant funding is limited and is not guaranteed.
Grant Process:
- Applicant completes and submits the application.
- An email will be sent to the applicant with details regarding next steps they must take before receiving a grant. This email is very important as it gives details regarding the online, personal finance course all Empowering Stewardship grant applicants are required to complete.
When all requirements are completed, Empowering Stewardship will mail grant funds to the applicant.
NOTE: PLEASE COMPLETE THESE STEPS WITHIN 60 DAYS. AFTER 60 DAYS WE WILL NEED TO RELEASE THESE FUNDS AND YOU WILL NEED TO REAPPLY.
*AGWM missionaries generally are not eligible for these grants, but may be approved for a Financial Success grant on a case by case basis.
APPLY HERE
