1. The yearly income from the fund shall be divided and made available to the Bishop and Council for grants: one-half to church expansion and one-half to social ministries.
a. Church expansion grants include money for land purchases for future sites; land, buildings, and equipment for existing worshiping communities; and building and equipment needs of parishes beyond the means of the congregation.
b. Social ministry grants include assistance to parishes and worshiping communities within the Diocese that seek support for ministries that meet basic human needs (food, shelter, and energy, as well as emotional, educational and spiritual) and those ministries that seek to affect personal and/or societal transformation through education, rehabilitation and allocation of resources according to the mission and ministry of the Church. Ministries may be separate entities, but must have significant Episcopal Church involvement and their grant applications must be approved by Vestry/Council/Board of Directors of their sponsoring Diocesan organization.
c. Seed money for new projects will be given priority.
d. No annual grant shall be repeated for more than three consecutive years. The above social ministry grants are to be awarded to ministries within the Diocese or to ministries sponsored by diocesan organizations as in b. above. Any funding of a grant or ministry project outside the diocese must be matched by funds from the sponsoring agent.
2. Yearly income not expended in a given year pursuant to the foregoing provisions shall accumulate in the Opportunity Fund and shall be designated as the Mission Growth Fund. This fund shall be allowed to accumulate and interest earned thereon shall be rolled over into the Mission Growth Fund. Further, solicitations may be made at appropriate times and by appropriate persons to add to this particular fund within the Opportunity Fund. This fund shall be used for church expansion grants within the diocese, including personnel and program support for new worshiping community development and the purchase of new land for potential sites and for the building of facilities for new congregations.
3. Follow up evaluation and accounting of social ministry grant money received is expected within one year of the date the grant was awarded. The form for this evaluation is to be sent with the money granted and returned to an appointed diocesan staff person. See D. 1.