At its August 2004 Convention, the LCMS took a number of steps to alleviate the financial crisis of the seminaries. In the “Whereas” preamble to the main resolution, two significant points were reiterated:

1. The support of seminaries for the recruitment and training of pastors is a key objective of the LCMS according to Article III of the Constitution and
2. The Synod has understood the wisdom of providing support for the seminaries, so that their energies may be properly focused on the preparation of pastors with integrity and a strong sense of service to the church. Also it was stated that the Corporate Synod is supporting the seminaries with $500,000 from “undesignated” funds in the 2004-05 budget (This is equivalent to about 2% of the two budgets).

The main Resolution (4-02A) is a multi-part action designed to address both the near-term and long-run financial situations of the seminaries:

1. The Board of Pastoral Education established earlier in the convention, (by separation from the University System in the former Board of Higher Education) is directed to undertake as its immediate first task a systemic study of funding models for theological education;
2. The Board shall seek to engage the entire church for counsel and support in resolving the crisis;
3. A plan shall be put in place within the next triennium;
4. Interim funding be secured to guarantee the financial solvency of the seminaries until such a systemic plan is implemented and proven successful.

Prior to formation of the Lutheran Church—Missouri Synod in 1847, individuals living in scattered settlements in the U. S. dedicated much time and significant resources to establishment of educational facilities.

These ranged from lower elementary levels which were given high priority through to high schools (such as the one on grounds now occupied by the Ft. Wayne seminary) to development of pastors. Dogged perseverance with some financial help from churches in Germany enabled significant advances in some locations. Formation of the Synod included a network with churches and facilitated unified development of educational and other institutions and services as well as planting missions in the U. S. and abroad.

The network of Church Extension Funds (CEF), one of the institutions founded by Synod, has served an exemplary role in financing the erection of physical structures. A comparable tradition has not been developed to help higher education institutions cover operating costs, including tuition. Seminaries and Concordia University system have made some progress in encouraging major gifts. These usually take the form of endowments or other financial instruments, which often have restrictions as to purpose and longer time‑span for payout. Hence, in general, they fit better in long‑run financial planning strategies. These instruments can benefit donors as well as beneficiaries. Individuals who sense that step is suitable should consult the Development Office of a seminary or a financial planner.