New Initiative: Young Clergy Debt Assistance Program

New Initiative: Young Clergy Debt Assistance Program

3/13/2014

Dear New York Annual Conference Family:

I am pleased to announce the creation of a new initiative, the Young Clergy Debt Assistance Program (Young Clergy DAP). This idea was born out of a desire to provide financial support to clergy aged 40 years or younger serving in the New York Annual Conference and saddled with educational debt. While this resource-sharing opportunity will not eliminate the academic debt, the awarding of $2,000 to $5,000 mini-grants will provide much needed support.

The program seeks to accrue $300,000 of dedicated funds for a newly established endowment where a percentage of the value of the fund will be used for grants in support of reducing the educational debt of young clergy. I am pleased to report that Christ Church UMC has provided a generous lead gift of $100,000 and an additional $80,000 has been contributed from additional sources for a total of $180,000.

I invite churches and individuals to support this initiative by “gifting” checks payable to the NYAC with a notation indicating “Young Clergy DAP.” Please send checks to my attention and I will forward them to the endowment fund manager. Alternatively, individuals can minimize capital gain taxes by donating appreciated stock, the value of which is tax deductible. If you are interested in making a stock donation, please contact Ross Williams at rwilliams@nyac.com. Thank you for your continuous support of the initiatives of the New York Annual Conference.

Guidelines and an application will be posted later in March for clergy interested in applying for a grant.

All my prayers,

Bishop Martin D. McLee

Bishop Martin D. McLee