Once the number and amount of Tuition Assistance Scholarships have been determined for the coming academic year a portion of the remaining funds, typically about $2,000-$3,000 are held in reserve in order to address emergency or sudden acute needs that may arise for candidates. Funds remaining at the end of the fiscal year are simply not drawn from the endowment and are held in reserve for future need.
Usually, a candidate in such a situation contacts the Director of Candidacy at the synod office, or on occasion the synod becomes aware of a particular candidate’s acute need through the individual’s Candidacy relator. This need is explored with the candidate, Director of Candidacy and I-K Synod Candidacy Chairperson. After a simple form has been completed by the individual requesting assistance, the funds are dispersed as appropriate. These funds may be counted as taxable income for the candidate, and you would need to consult with your tax preparer for appropriate tax filing implications.