NASHVILLE, Tenn. (AP) — The United Methodist Church finance agency approved an emergency grant of $400,000 to help bail out the financially troubled National Council of Churches, the Methodist news service reported.
In September, the council's other major funder, the Presbyterian Church (USA), provided a special $400,000 grant beyond regular dues.
Presbyterian News Service quoted the council treasurer as saying the ecumenical agency might have been forced to shut down without the Methodist money.
The Methodist grant is an advance against membership dues from 2001 to 2004 and will be deducted from future payments. The Methodists will charge 7 percent interest but forgive the interest if the advance is repaid and the council achieves a balanced budget.
Council leaders have cut staff and expenses, and say finances look more stable for 2001.