Financial Guidelines

One of the unique aspects of IGSL’s ministry is our commitment to having faculty members raise their own support to enable them to serve at the school. Each faculty member develops a team of financial partners committed to support their personal living and ministry expenses. This is one reason why our school is able to provide the many services it does – and one reason our institutional supporters are so impressed with the commitment of our faculty to IGSL.

Your Personal Support (Raised through your sending organization) — All personal and ministry expenses that are incurred while serving at IGSL are expected to be included in the support all faculty members raise. The following is a list of some school-related ministry expenses that are to be covered by the faculty members’ financial support structure and reimbursed through the sending mission:

1. IGSL Community Retreat

2. Faculty Retreats, Planning Retreats

3. Higher studies and development of faculty members (e.g. pursuit of higher degrees, conferences, books, etc.)

4. Faculty campus housing maintenance contribution

5. Other expenses directly related to fulfilling IGSL responsibilities.

IGSL Faculty RC Account — A faculty charge account will be maintained for each faculty at IGSL for the charging or billing of the above ministry-related items. They are responsible to keep their accounts funded and from going into a deficit. A computer generated report of the account transactions can be viewed any time on the IGSL Portal. (RC stands for "Responsibility Center".)

To fund these accounts:

1. Funds can be forwarded from your sending agency each month or as needed to cover any anticipated charges.

2. Donations can be received and receipted directly to donors. These donations will be subject to the standard 10% administrative charge for ministry accounts.

3. Personal deposits by faculty members.

4. From time to time, IGSL corporate donors give special gifts for the use of faculty members, sometimes for specific purposes (such as housing contribution) or sometimes for general ministry expenses. These funds are transferred to the RC Account of the faculty member according to the instructions of the donor.

Trust Account — The funds in this account belong to you personally. They may have been given to you as a personal gift by an IGSL donor or by someone who wants to bless you. Faculty members living on campus are expected to pay their own utility bills on time, using this account. If you have extra funds in this account, you can request the funds from your trust account at any time.

Subsidy for Advanced Studies — IGSL is committed to providing a substantial subsidy for the further studies of Asian faculty members. You can find the guidelines regarding the amounts available and the process for applying for funding here.

Faculty Loan from IGSL — For the portion of the cost of a faculty member's advanced studies that is not covered by IGSL subsidy, the faculty member should raise support as part of his annual Ministry Partner Development. There may be occasions when a payment is required by the institution before the faculty member has been able to raise it. In this case, a faculty loan may be requested, in keeping with the following guidelines.

1. The purpose of the loan is for advanced studies of full-time faculty only.
2. The faculty does not have any outstanding balance in IGSL.
3. The faculty will sign an agreement to pay it back within 6 months, with payments divided equally over six months.
4. There must be signed approval from the faculty member's strategic team leader, as well as from the LDHR Director.

To request a Faculty Loan for payments for higher education, use this form.

Annual Faculty Development Policy IGSL is committed to helping faculty succeed and excel at IGSL. The following policy is developed as an expression of our desire to see faculty become all that God has called and enabled them to become.

The amount set for each faculty member is ₱12,000 per year. The following policies provide standardized procedures to make decisions fairly and consistently. Occasionally, funds may be raised corporately to add to the basic amount of ₱12,000, but again, this is the exception rather than the rule.

What does “Development” entail?

The faculty development subsidy is provided for training or developmental resources that better equip faculty members to succeed and excel at IGSL. As such, the trainings should contribute to the faculty member’s roles and responsibilities at IGSL or help facilitate priority character development (spiritual, emotional, relational) that is needed to excel in a current or future organizational role. This subsidy is not for general development or specifically personal desires, but for development that specifically builds faculty capacity and effectiveness in their faculty role(s) at IGSL.

What are some guidelines in choosing faculty development training opportunities or resources?

In addition to trainings or resources contributing to equipping a faculty member to better succeed and excel in his or her responsibilities, the requested development should be

Cost effective. All things being equal, we encourage faculty to choose the more cost effective alternatives available to them. Trainings outside of the Philippines and Asia are discouraged.
Reflect priority and intentional development as opposed to opportunities or resources for distinctly personal pursuits.
Ideally the faculty development subsidy would be used for development action points that are represented in a faculty member’s personal development plan.

What are valid development subsidy expenses?

Training/tuition/developmental conference fees.

Books, resources, or subscriptions to stay current in one’s academic field or that would support priority areas in one’s personal development plan or your ongoing roles at IGSL.
Faculty members may attend more expensive trainings, but should pay the excess amount.

What are not valid development subsidy expenses?

Living expenses/housing is not typically part of the subsidy. However, if it is a live-in conference or seminar, then it can be considered as long as the total is within the maximum subsidy guideline.
Transportation expenses are not considered a valid subsidy.
Training/development/resources not related to one’s role or responsibility as an IGSL Faculty or one’s priority character development related to those roles or responsibilities.

What is the procedure to avail of the development subsidy?

1. Read the guidelines in this policy

2. Talk to the LDHR Director about your desire to attend the enrichment training. Secure approval for the training using the IGSL Faculty Request Form.

3. Fill out a Payment Request Form and submit to LDHR and receive approval for the amount of subsidy.

4. All approved subsidies must be cleared with the Finance Department as soon as receipts are available. Secure the necessary documents and receipts during or before the development opportunity.

Who should get the development subsidy?

These funds are designed to assist any full-time and associate faculty (including administrative). Those on full-time study leave, however, cannot avail of this subsidy since they are devoting full-time to their studies and are being supported through the Advanced Studies Subsidy Policy. Part-time study leave faculty may be granted this subsidy if the enrichment does not hinder the pursuit of the advanced degree.

Who will approve the development training?

First, consult with LDHR Director concerning your desire to attend any training, events, or developmental conferences. Approval to attend any trainings or conferences will be given by the Strategic Team Leader and the LDHR Director using the IGSL Faculty Request Form. Other development subsidy requests such as resources and books will be submitted to the LDHR Director for approval.

How many years should a faculty member serve before availing of subsidy?

There is no required number of years for the faculty member to serve before availing of the subsidy. It is available to all full-time and associate faculty members who have reported and are serving at IGSL.