noun (n)

• division of a group into opposing factions(noun.act)

  Example:
  Another schism like that and they will wind up in bankruptcy.
  

  Synonym:
  split
  

  source: wordnet30
• the formal separation of a church into two churches or the withdrawal of one group over doctrinal differences(noun.event)

  source: wordnet30
• Division or separation; specifically (Eccl.), permanent division or separation in the Christian church; breach of unity among people of the same religious faith; the offense of seeking to produce division in a church without justifiable cause.(noun)

  source: webster1913