CARES Act Reporting

Notification required by the Department of Education pursuant to CARES Act

CARES Act Grant Section 18004(a)(1)

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.

CARES Act Grant Section 18804-(a)(3)

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.

 

Cares Act Ed Grant Final Expenditures December 31, 2020.

CARES Act Grant Monetary Post Award

Shepherds Theological Seminary (STS) was notified on February 3, 2021 that additional funds had been awarded for both the students and the institution to provide relief for the impact of COVID-19. The additional student grant money was in the amount of $8,063 and the institutional portion was $17,830. The funds were received on February 9, 2021. The student grants were awarded on February 15, 2021. The institutional grant funds will be used to purchase additional instructional equipment and supplies to improve live streaming and classroom teaching during the spring 2021 semester. An updated Quarterly Report will be posted on our website in April.

 

Cares Act Grant Monetary Post Award Final Expenditures March 31, 2021.

American Rescue Plan

Shepherds Theological Seminary (STS) was notified that additional funds under the American Rescue Plan had been awarded for both the students and the institution to provide relief for the impact of COVID-19. The additional student grant money was in the amount of $22,498 and the institutional portion was $22,497. The funds were received, and the student grants were awarded mid-June 2021. The institutional grant funds were used to purchase additional instructional equipment and supplies to improve livestreaming and classroom teaching during the spring 2021 semester. See Quarterly Report for September 30, 2021.

 

American Rescue Plan Final Expenditures September 30, 2021.