First Presbyterian Existing Endowment Funds

Use

  • Mission or benevolent related funds
  • Building maintenance and repair funds
  • General use (but non-operating) funds

In general, new contributions can probably fit into one of these existing funds. The Budget and Finance Committee will also review any gifts that include restrictions or designations, as well as those that may entail some liability. The committee may refuse a gift if it will interfere with the church's pursuit of its mission.

Responsibility

The Session is responsible for the use of endowment funds as part of its overall mission and budgetary responsibility. The church targets spending no more that 5% of the beginning year's balance on any fund in any one year.

Management

Funds are managed by an outside investment counselor, and selected and reviewed periodically by the Budget and Finance Committee of the Session. Investment results are reported to the Session on a regular basis at least annually.

Options

First Presbyterian encourages its members to think not only about annual support of the church, but also how we can help maintain the church's ministry in the long term. The pastors and members of the Budget and Finance Committee are always happy to discuss the full range of giving options, including:

  • Bequests Under Will
  • Charitable Trust
  • Direct Gifts (Stocks, Bonds, Cash Real and Personal Property)
  • Insurance Policies
  • Life Estate

Examples of Funds

Ruby West Malphrus Endowment Fund

This fund provides for any need within or outside of the church, with the restriction that no funds can be used for the operating budget.

Rhesa Purnell Endowment Fund

This fund was established to provide for the needy without restrictions.

Bernard Greenewald Endowment Fund

Julia H. Lucas Endowment Fund

These funds are used for benevolent purposes, including scholarships for ministerial students.

Lula Abercrombie Endowment Fund

This fund provides for church facility maintenance.


To learn more about giving to the First Presbyterian Endowment, please see our Gift of a Lifetime brochure and Giving opportunities.

Get in touch with...

Lynise Clarke // lclarke@fpcspartanburg.org