Affording Adoption
Church Adoption Assistance Fund
Why is an Adoption Assistance Fund Needed?
There are millions of orphaned children in the world in desperate need of a loving home. Families within your church may be considering adopting one or more of these children but may not have adequate funds. The church can help these families by establishing a revolving fund, known as an adoption assistance fund, that can offer an interest-free loan that is repaid through federal and state adoption tax credits. Adoption Associates, Inc. can explain the setup of this fund and how it can work for the families, the church, and especially the children.
How Does the Fund Work?
To begin, the church sets up a committee to administrate the adoption assistance fund. Financially able church members are then encouraged to donate to the fund in order to meet an initial monetary goal decided on by the committee. If members of the church are wishing to adopt, they may apply for assistance from this fund. After receiving their tax credits, the families who borrow from the fund repay their loan so that other families can also benefit.
Once the fund is set up, the committee can accept donations and information can be made available to interested families. Then, as more and more families wish to adopt, the fund committee may want to make it known that additional donations are needed to help bring these beautiful children home. All contributions to the fund are tax deductible.
Suggestions for Structure
While decisions regarding structure, eligibility, and borrowing from the fund rest solely within the church, AAI suggests:
setting a cap on how much one family can borrow. This will allow more families to use the fund, which means more children will be united with their forever families.
allowing families to repay the loan in one lump sum or in several installments.
loaning the money with zero interest.
allowing families to borrow from the fund without disclosure of private financial information.
dispersing the funds in a manner that is not contingent on the personal opinions of the fund committee as to the appropriateness of the family’s wish to adopt. That is the responsibility of the agency.
offering participation to families adopting through Adoption Associates, Inc.’s international programs, including Room For One More.
How You Can Help
Your church may not know how it can create an adoption assistance fund. You can share this article, or contact us at 616.667.0921 for a copy of our brochure on this topic, and encourage your church to set up an adoption assistance fund. By creating an adoption assistance fund within your church, you will help the cause of orphaned little ones around the world.
