I remember the day when our church was facing foreclosure. It was a dark and stressful time for our congregation, and we felt hopeless and helpless. We prayed for a miracle, and God answered our prayers. He led us to a grant program that helped us pay off our mortgage and save our church.
In this article, you will find a list of grants to pay off church mortgages, the process to apply for them, and 4 tips to increase your chances of bagging these grants.
Grants To Pay Off Church Mortgage
Many churches faced financial challenges due to the high cost of mortgages, especially during the pandemic. Grants available can help churches with their mortgage payments and reduce their debt burden. Here’s an explanation of these grants’ purpose, eligibility, application process, and how they can benefit your church and community.
1. ConsoliGrant
This organization offers a unique program that provides grants to pay off church mortgage debt within a specified term (ranging from 3 to 6 years).
Who is assisted: Churches with mortgage debt
Type of Assistance: Funds to repay the mortgage within 3-6 years.
Application Process: Applicants need to apply with an asset management fee and a security deposit.
The church must continue to make regular monthly payments, and at the end of the term, ConsoliGrant grants the remaining debt.
2. Carrie Estelle Doheny Foundation
The Carrie Estelle Doheny Foundation provides financial assistance through grant programs, which can help churches with various needs, including paying off debt.
Who is assisted: Churches registered as section 501(c)(3) organizations with the IRS
Type of Assistance: Funds to repay the mortgage within 3-6 years.
Application Process: Applicants need to fill out an application form based on your requirements.
3. Baptist Community Ministries (BCM)
Baptist Community Ministries (BCM) supports the greater New Orleans region through various grantmaking initiatives. While they do have direct grants to pay off church mortgages, you can still get funding from them to pay off a significant amount. They can also potentially assist churches in managing their finances more effectively, which may indirectly help with mortgage payments.
Who is assisted: Churches in the greater New Orleans region
Types of Assistance: Open-funding grants and invitation-only funding grants
Application Process: Applicants need to fill out an application form based on your requirements.
4. Hope Christian Community Foundation
The largest Christian Community Foundation in the country provides significant funding to churches, ministries, and charities. They also offer grants to pay off church mortgage through which the churches can pay off debt every month or through a lump sum.
Who is assisted: Churches buried under heavy mortgage
Types of Assistance: Grants offering regular mortgage payments
Application Process: Applicants need to fill out an application form based on your requirements.
5. Barry Foundation
The Barry Foundation, like many charitable organizations, may assist churches in various ways, although the specific forms of assistance would depend on the foundation’s mission and focus areas.
Who is assisted: Church programs, such as youth groups, educational initiatives, or community service projects.
Types of Assistance: Grants offering specific projects and general support
Application Process: Applicants must fill out an application form based on your requirements.
Along with your search for grants to pay off church mortgage debt, you can also seek help for your church located rurally. There are grants that can help you vitalize this initiative.
Organizations Offering Grants To Pay Off Church Mortgage
While there are organizations that directly offer grants to pay off church mortgage debt, you can also seek help from other agencies that offer general grants, which can be used to pay off other bills incurred by the church. Here’s a list of all the organizations that can help:
- A.J. Muste Memorial Institute
- Adella W. Harris Fund
- All Saints Company
- Anderson Fund of The Episcopal Church
- Anne and John Seley Foundation
- Arthur Vining Davis Foundations, Inc.
- Ascension Health Ministry Service Center
- Auxiliary Protestant Children’s Home Board of Trustees, Inc.
- Beau Foundation, Inc.
- Bishop Sherry Fund for Christian Mission, Incorporated
How can churches increase their chances of getting grants to pay off mortgage?
Many churches struggle with the burden of mortgage payments, especially during economic hardship. You can increase their chances of getting grants to pay off church mortgage. Here are some tips:
- Research the available grant opportunities: Many foundations, organizations, and government agencies offer grants to churches for various purposes, such as community development, social justice, or environmental stewardship. Some of these grants may be used to pay off mortgage debt, or at least reduce the interest rate.
- Prepare a compelling grant proposal: A good grant proposal should be clear, concise, and persuasive. It should also follow the guidelines and requirements of the grantor. You can use online resources to write an effective grant proposal.
- Build relationships with potential grantors: Trust is among the most important factors in getting a grant. Grantors want to ensure that the grantee will use their money wisely and responsibly. Therefore, it is important to establish and maintain a positive relationship with potential grantors.
- Seek professional help when needed: You can seek professional help from a grant writer or consultant to enhance your chances of getting grants to pay off church mortgage. A grant writer can help you craft a compelling and polished proposal that meets the expectations and standards of the grantor. A grant consultant can help you identify and apply for suitable grants, as well as provide feedback and guidance throughout the process.
People Also Ask
Here are the 3 most-asked questions regarding the grants to pay off church mortgage debt, as it can be tricky to apply for the right one and also see to it that you have the highest chances of getting the funding.
How can churches apply for grants to pay off church mortgage?
Churches can apply for these grants by finding suitable grant opportunities, preparing a compelling proposal, and submitting it to the grantmaker before the deadline.
How can churches qualify for grants to pay off mortgage?
Each grant program has its own eligibility criteria, but some common factors may include the church’s size, location, denomination, mission, vision, and community impact.
What are some best practices for paying off mortgages for churches?
Some best practices for paying off a mortgage are setting realistic and achievable goals, creating a budget and a timeline, communicating clearly and regularly with stakeholders, and seeking professional advice when needed.
The Bottom Line
Applying for grants to pay off church mortgage debt is a viable option for many religious organizations that are struggling with debt. Grants can provide financial relief and help churches focus on their mission and ministry. However, they are difficult to obtain and require careful planning, research, and writing. Therefore, it is advisable to seek professional guidance and assistance from experts.
