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Higher Education Emergency Relief Fund (HEERF) Update as of June 30, 2022 July 10, 2022

In accordance with the Certification and Agreement for HEERF grants that it signed and returned to the U.S. Department of Education, Midwestern Baptist Theological Seminary provides an accounting of these funds as follows:

Last May 2020, the Seminary received grant award notifications for federal Coronavirus Aid, Relief and Economy Security Act (CARES Act) funding of which $233,499 was designated to provide assistance to eligible enrolled students experiencing educational disruptions due to the COVID-19 pandemic and $233,498 was determined as the Institutional portion. To make the sum total of CARES Act funding to $500,000, an additional $33,003 was added later as the Fund for the Improvement of Post- Secondary Education (FIPSE).

In February 2021, the Seminary also received grant award notifications that total $948,700 through the Coronavirus Response and Relief Supplemental Appropriations Act (CRRSAA), with $233,499 designated for the continued support of students who have an exceptional need due to COVID-19. Furthermore, CRRSAA broadens the eligibility of funds awarded to students. The remaining $715,201 was designated as the Institutional portion to cover lost revenue, reimbursement for expenses already made, technology costs associated with distance education, student support, as well as faculty and staff training.

As part of the American Rescue Plan (ARP) Act passed in May 2021, the Seminary received grant award notifications that total $1,718,367. Of these funds, $894,620 was earmarked for the continued support of students who have been adversely impacted by COVID-19 while $823,747 was appropriated for institutional use.

As of June 30, 2022, the Seminary has awarded a total of $1,361,618—the full authorized grant for the student portion—to 987 students. In addition, the Seminary also used $1,447,894 of the institutional portion and $33,003 of FIPSE to help cover qualified expenses and lost revenues related to the disruption of campus operations due to the pandemic.

Fund Summary as of June 30, 2022:

Designation Award No. CARES Act CRRSAA ARP Act Total Used Remaining
Student P425E204044 $233,499 $233,499 $894,620 $1,361,618 $1,361,618 0
Institutional P425F202691 233,498 715,201 823,747 1,772,446 1,447,894 324,552
FIPSE P425N200820 33,003 0 0 33,003 33,003 0
Total $500,000 $948,700 $1,718,367 $3,167,067 $2,842,515 $330,772

Links to Quarterly Budget and Expenditure Reporting:

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