In May of 2019, the FEC received an invitation. The National Association of Evangelicals (NAE) pledged $25,000 toward financial wellness for our pastors if we would match it. Thus, a five-year partnership was born. Nate Zimmerman, the Director of Finance and Benefits at the FEC says 35 grants were given to 29 different leaders, totaling in $76,200. Recipients also took financial literacy courses. The experience for Nate has been “tremendously exciting” as he witnessed God’s faithfulness.
This program began when the NAE received a donation from the Lilly Endowment Fund to “invest in financial literacy for pastors” and “encourage cultures of generosity in churches,” Nate says. Throughout the last five years, credentialed FEC leaders could apply for a grant of $2,500 toward their retirement fund or student loan debt. Pastors, then, took one of six financial literacy courses designed to help them grow personally, or assist in leading their church body.
Many pastors responded very positively after completing the program. One pastor said it was “a huge answer to prayer” after facing a difficult financial dilemma during his wife’s pregnancy. Other pastors and their wives gained insight through communicating together, praying over finances, creating a living will, improving habits, and being intentional. “It’s really fun to see how through Lilly and NAE and that partnership, we get to invest into our leaders in really tangible ways,” Nate says. “It feels really good to be able to say ‘Here, we can help with that,’ and they get the benefit of some financial literacy and some good practices with that.”
