The Synod Foundation
Wise men and women in 1987 created an independent, not-for-profit corporation named the Synod Foundation:
To receive, hold, manage, invest, and re-invest the real estate and investment assets of PSMA [aka RSMAt], and to process and act upon loan requests and upon requests for grants from the churches and classes within the jurisdiction of PSMA from its commissions and subsidiary corporations, and from others within the scope of its concern and mission.
The Synod Foundation is governed by eight trustees appointed on an annual basis at RSMAt's annual meeting. The Trustees approve the loans and grants and manages the other investments. The Foundation currently has 20 active church and social responsibility loans totaling over $1.1 million. The balance of the funds, $1.8 million, are invested in a wide variety of short and long term securities.
Churches secure loans for new roofs, parsonage or church furnaces replacement or upgrades, repointing brick or stone, interior church and parsonage renovations, removing accessibility issues, purchasing a building, and hurricane cleanup and repairs. Recently, four churches have secured loans for solar systems as a witness to green stewardship and expecting to lower their future electrical energy costs even as the solar system loan is being paid. With the Federal and New Jersey government assistance, the expectation is for the loan to be paid in around 12 years with the life of the solar system good for another 15 or so years.
See the Foundation flyers for commonly asked questions or contact the Synod Office for more information.
Here is our brochure
Here is our grant policy
Here is our grant application
Here is our loan application