Financial Assistance
The National Religious Retirement Office assists religious communities in the United States that have unfunded liability for retirement through the annual distribution of funds from the Retirement Fund for Religious.
About 88 percent of donations to the Retirement Fund for Religious appeal are distributed to assist with the direct care of senior religious. Religious communities may apply annually for these funds, and NRRO encourages community leaders to use the Direct Care funds for the current care of elderly members and to set aside a portion for future elder care needs.
Beginning in 2009, the National Religious Retirement Office will be establishing two additional types of fund distributions. About eight percent of donations to the Retirement Fund for Religious will be distributed to help those religious communities with the greatest financial need. The aim of these distributions is to assist religious institutes with planning for long-term financial viability in terms of retirement funding. NRRO and its volunteer consultants will work with religious institutes to develop and implement a plan for securing more adequate retirement funding. Both monetary and advisory Planning and Implementation Assistance will be available.
NRRO also sets aside a small portion of the collection proceeds each year for Continuing Education and Management Assistance. Religious institutes may apply for funds for on-going education in finance, development or elder-care or for funds to implement changes in management practices, e.g. first time computerization of the financial or development records.