North Carolina Episcopal Church Foundation
The North Carolina Episcopal Church Foundation, Inc., was established in 1955 for the purpose of aiding the expansion of the Church in the Diocese of North Carolina. An initial capital funds campaign raised over $300,000 to start this fund, which has grown over the years through additional gifts and investment income.
The Foundation has given over $3,000,000 in grants and loans since its beginning. The funds may be used for:
- The erection of needed church buildings or acquisition of church property.
- Capital repairs and renovations.
The Foundation gratefully accepts contributions so that it can increase financial support through loans and grants to parishes, missions and Episcopal institutions in the diocese.
Contributions and bequests are tax deductible and may be sent to the Foundation using this form.
LOANS
A maximum of $150,000 may be borrowed and repaid quarterly within a 10-year period. Parishes, missions and institutions are eligible to apply for loans.
The interest rate is set periodically by the board of directors. The current annual interest rate is 5% for parishes and 4% for missions.
GRANTS
Grants are available to mission churches up to a maximum of $10,000. Grant awards are usually based on need and are not repayable.
Green Grants are available to parishes, missions and institutions to encourage congregational efforts to be faithful stewards of the earth.
APPLICATION POLICY
Each application is considered on its individual merits and according to the availability of funds and funding policy.
The Foundation’s goal is to have adequate funds available to aid parishes, missions and institutions.
APPLICATION PROCEDURE
1. Access the application here.
2. Submit a completed application 45 days before the next scheduled board meeting. The Board meets on the second Thursday of March, June, September and December.
3. The applicant must have accepted the full asking and be current in payment of its share of the diocesan budget. (In emergencies and on recommendation of the Bishop or Standing Committee, special consideration may be given to applicants who do not meet this requirement.)
4. A review is conducted by the Foundation’s examining committee and Board of Directors. If the church or mission is an historic property, a member of the Commission on Historic Properties will conduct the examination.
5. The applicant will be notified of the results and if approved, payment will be mailed to the primary contact.
6. Funds are conveyed within two weeks of approval. The grant or loan funds must be accepted within six months of the date of approval.
Chief Financial Officer
Accountant
