CARES Act Reporting
Shepherds Theological Seminary (STS) was allocated a total grant of $16,125 under Section 18004(a)(1) of the CARES Act to provide Emergency Financial Aid Grants. The grant was disbursed in two equal parts. The first half of $8,063 was to provide emergency relief for students impacted by the transition from in-person teaching to on-line teaching due to the Covid 19 pandemic shutdown. The second half of $8,062 was to help cover any institutional costs associated with the change from in-person to on-line teaching.
The Certification and Agreement document for the student portion was signed and returned to the Department of Education April 30, 2020 and the funds received on May 15, 2020.
An email was sent out to all students that qualified to receive the funds based on the requirement set by the Department of Education to receive Federal Student Funds under Title IV. This email outlined the qualifications and uses of the grant set forth by the DOE.
The first half of the allocation, $8,063, was distributed evenly to 34 eligible students on May 26, 2020. Forty-five students qualified to be awarded the grant, however eleven students indicated via email that they did not suffer any financial hardship due to the Covid 19 virus and therefore declined the grant money.
The Recipient’s Funding Certification and Agreement for the Institutional Portion of the Higher Education Emergency Relief Fund authorized by Section 18004(a)(1) of the CARES Act was signed and returned on May 26, 2020. The funds were received on June 10, 2020.
The Institutional Portion of the CARES Act in the amount of $8,062 was used to upgrade live streaming capabilities to facilitate moving all teaching to live streaming.
Shepherds Theological Seminary (STS) was awarded the CARES Act Fund for the Improvement of Postsecondary Education (FIPSE). The Certification and Agreement document was signed and submitted on June 1, 2020. The grant allocation of $483,875 was received on August 12, 2020.
The FIPSE funds are being disbursed during the fall 2020 academic semester as follows:
1) $140,000 Direct Grants to Students; 2) $50,000 Faculty expenses to transition to online learning; 3) $93,875 Purchase of additional equipment to facilitate live synchronous learning including computer hardware and software upgrades for the classrooms and library; 4) $200,000 Cover faculty and Staff payroll (outlined in signed agreement: “Recipient may use the funds to defray expenses incurred by Recipient, including lost revenue, reimbursement for expenses already incurred, technology costs associated with a transition to distance education, faculty and staff trainings, and payroll”) from March 13, 2020 when the pandemic was declared, to May 26, 2020 when Shepherds Theological Seminary received their PPP loan. This enabled the retention of all faculty and staff with no layoffs nor furloughs, and facilitated the completion of the academic year without interruption.