First Presbyterian Existing Endowment Funds
- 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.
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.
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.
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.
Get in touch with...
Lynise Clarke // email@example.com