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< This section has dated archived material
Please see the current Leadership section on our new site.
The Study Reserve Fund was established to support the training of pastors
for the congregations of Mennonite Church Canada. Money from the fund is used
to reduce the personal cost of preparation for ministry and to encourage pastors
and pastoral candidates to attend preferred schools through the granting of
forgivable loans. Funding for the Study Reserve Fund comes from a group of
several hundred annual contributors known as “The Company of 1000.” The
Fund is administered by the Denominational Minister of Mennonite Church Canada
in consultation with the Area Church Ministers.
There are two ways you can support the Company of 1000 fund:
Download Guidelines & Application Form
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A. Eligibility:
Eligible applicants are members of churches belonging to the Mennonite Church
Canada who are (in order of priority):
- pastors who want to further their education through a sabbatical study leave
or between assignments;
- persons open to a call to pastoral ministry who want to pursue further training
in preparation;
- persons who are preparing for other forms of ministry, such as missions, chaplaincy,
theological teaching etc. (as funds permit).
Qualifying schools include:
- Anabaptist Mennonite Biblical Seminary;
- Winnipeg Seminary Consortium via Canadian Mennonite University;
- Conrad Grebel University College (MTS program);
- other Mennonite seminaries;
- Canadian Mennonite undergraduate colleges;
- educational opportunities sponsored by Mennonite institutions. E.g., the
Jerusalem Seminar co-sponsored by Mennonite Church USA Ministerial Leadership
Services.)
In special circumstances non-Mennonite schools will be considered. These might
include schools offering programmes for particular language or ethnic groups.
This may include cases such as:
- students who need to attend schools with special programmes for a particular
language or ethnic group;
- students with a strong background of study in Mennonite schools who would
benefit from ecumenical experience;
- students pursuing degrees (eg., doctorate) which are not available in a Mennonite
school; specialized programmes not available elsewhere.
Qualifying programmes (in order of priority) include:
- full time studies in a degree or diploma programme designed for preparation
for pastoral ministry
- part-time studies in such a programme where registration is at least half
time or where re-location or giving up employment is necessitated by the study
programme
- short-term courses (including the Jerusalem seminar) as funds permit
Applicants will complete an application form, including the affirmation of
support from the congregation of which they are a member, in consultation with
the Area Church Minister. A new application must be made every year. Every
attempt will be made to sustain a level of support throughout a programme,
but no guarantee of this can be assumed. The amount and conditions (if any)
of funds awarded will be determined by the Denominational Minister in consultation
with the Area Church Ministers..
Members of congregations which are Associate Members in Mennonite Church Canada
qualify for one half of regular awards.
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B. Amount of Loans
- The amount of money available to be distributed in any semester will be determined
by the amount of funds on hand. Members of the Company of 1000 will be invited
to contribute two times a year. The Denominational Minister, in consultation with
the area Conference Ministers, will manage the flow of funds to ensure that a
reasonable level of predictability is maintained and a positive balance is achieved
at the end of each fiscal year (January 31).
- The size of a loan to be granted to an applicant will be determined on the
basis of need. Factors to be considered will include the personal resources
available (through personal savings, family support, other sources of income,
e.g., spousal employment, other bursaries, scholarships, grants or loans) and
the costs anticipated (tuition, living costs, family needs, re-location, etc).
Information about resources and needs will be submitted by the applicant on
the application form and will be treated confidentially.
- Funds will be distributed by determining the needs of each applicant and
assigning the funds available proportionately.
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C. Repayment or Forgiveness of Loans
The money distributed by the Fund constitutes a forgivable loan. Repayment
in full of the loan will be due two years after
the completion of the study programme for which funds were granted. (It is
assumed that people who are unable to pay the amount in full will finance the
repayment by taking another loan through a financial institution or private
arrangement.) Forgiveness of the loan will be granted on the following basis:
- In recognition of pastoral ministry in a congregation of Mennonite Church
Canada following graduation. For each semester that a loan has been granted
the amount of the grant will be forgiven following six months of pastoral ministry
after graduation. Loans will be forgiven sequentially (i.e. in the first six
months the first semester loan, in the second six months the second semester
loan, etc.).
- In recognition of other ministries of the church in an institution of or
organization affiliated with Mennonite Church Canada following graduation for
service where theological education is a job requirement. For each semester
that a loan has been granted the amount of the grant will be forgiven after
one year of service. Loans will be forgiven sequentially, as in a) above.
- In accordance with Canada Customs and Revenue Agency (CCRA) regulations,
a forgiven loan becomes taxable income to the party that received the loan.
Mennonite Church Canada will issue a T4A tax reporting slip to Company of 1000
loan recipients for the full amount of the loan advanced in the year paid,
as if the loan was a bursary. Should the recipient fail to meet the qualifications
of a) and b) above in order to have the loan forgiven, the loan becomes repayable
to the Company of 1000 fund. A tax receipt will be issued for each such repayment.
- Persons who, through no fault of their own, are unable to find qualifying
employment may appeal to the Denominational Minister for special consideration.
The Denominational Minister, in consultation with the Area Church Ministers,
may decide to recall the loan, extend the time for repayment, forgive part
of the loan, or forgive the entire loan.
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D. Schedule and Deadlines
- May 15
- Application deadline for programmes starting in September.
- Late applications will be considered as funds permit.
- July
- Denominational Minister and Area Church Ministers meet to approve loans
- Letters
are sent to applicants indicating the amount of loan approved
- September
- First semester payment is sent to recipients after confirmation of registration
is received from schools; a loan agreement is signed
- October 15
- Application deadline for programmes starting in January/February
- November
- Denominational Minister and Area Church Ministers meet to approve loans
- Letters
are sent to applicants
- February
- Second semester payment is sent to recipients after confirmation of registration
is received from schools; a loan agreement is signed
Other applications may be considered on an individual basis. |
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