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Chicago (ELCA)-JB — The Thrivent Financial for Lutherans Foundation approved a $1 million "challenge grant" to the Evangelical Lutheran Church in America (ELCA) Fund for Leaders in Mission, an endowment designed to provide scholarships to support ELCA seminary students.
The Thrivent Financial for Lutherans Foundation is a private foundation funded by Thrivent Financial for Lutherans, based in Minneapolis. The Fund for Leaders in Mission is administered through the ELCA Foundation, which encourages lifelong stewardship in support of all ministries of the church.
Grant funding is contingent on the ELCA Foundation's ability to raise an additional $2 million in external funding. The grant will be distributed over a two-and-one-half year period beginning March 1 and ending Aug. 31, 2005.
"We recognize the importance of attracting and encouraging young people with gifts for ministry to our Lutheran seminaries in preparation for ministry without the burden of significant debt," said Tim Schwan, vice president and executive director, Thrivent Foundation. "The Thrivent Financial Foundation believes this challenge grant will assist in raising up a new generation of leaders within the ELCA."
"The Thrivent Foundation challenge is a powerful catalyst that positions the ELCA to grow the Fund for Leaders in Mission endowment significantly in the next two years," said Cynthia Halverson, director of the ELCA Fund for Leaders in Mission. "We have made good progress in the first three years of this initiative, but there is continued urgency. The burden of educational debt weighs heavy on too many students and young rostered leaders. We are working hard to build this scholarship resource so that many more students can receive the benefit of this churchwide support."
The ELCA Fund for Leaders in Mission is an endowed scholarship resource created to support the theological education and preparation of future leaders for the church. When fully endowed the Fund will support full tuition for every qualified student at an ELCA seminary who has a commitment to ordained or lay ministry within the church, Halverson said.
The Fund for Leaders in Mission was approved by the 1997 ELCA Churchwide Assembly in Philadelphia. Initial funds came from grants of $500,000 each from Aid Association for Lutherans and Lutheran Brotherhood, the predecessor organizations of Thrivent Financial for Lutherans.
The goal of the Fund is to raise a $200 million endowment and to increase current scholarship support for students, Halverson said. In three years, the Fund has awarded 40 full-tuition scholarships totaling $445,000. During the same time, the Fund has received more than $14 million in gifts and deferred-gift commitments, she said.
In 2003 the challenge grant amount is $250,000, in 2004 it will be $425,000, and in 2005 it will be $325,000, Schwan said. New money raised by the ELCA Foundation for the program will be matched 50 cents on the dollar. In addition, funds raised by the ELCA Foundation for the program must be new money from new sources, he added.
"The power of such a partnership could not be directed to a more urgent and important task than that of preparing a new generation of leaders with a passion for mission and ministry," said the Rev. Mark S. Hanson, ELCA presiding bishop. "The Thrivent Financial for Lutherans Foundation grant is more than a challenge; it is an opportunity for each of us to respond with greater involvement and support in the shared task of preparing public leaders to proclaim the gospel to a broken world."
"We are pleased to continue our partnership with Thrivent Financial for Lutherans as we encourage and support future leaders for the ELCA," continued Halverson. "The challenge grant provides a wonderful opportunity for individuals, congregations and synods to increase the impact of their gifts with a one-for-two dollar match. The grant will also enable the ELCA to reach the goal of significantly increasing the number of students we can assist by 2007."