Undesignated Fund
When the Foundation receives a gift from a donor who does not specify how it may be used, it is added to the undesignated fund. This is the permanent endowment fund that is the depository for any bequests that do not have specific designations. The major strategic grants come from the earnings of this fund. These strategic grants are typically for entrepreneurial endeavors, either start up ministries or emerging efforts within existing ministries, and when applicable support ministries that are reformed in nature.
designated Funds
When a donor does specify an intended use for a gift it's considered a designated fund. Funds are either expendable, allowing the principle and earnings to be spent, or non-expendable, allowing only the earnings to be spent. Specific funds that are available to receive such gifts are:
Scholarships
Elementary School
Clay Scholarship Fund
This fund assists members of Second Presbyterian Church and the ministerial staff with tuition assistance for their sons to attend Presbyterian Day School.
Young Scholars Fund
This fund provides scholarships for boys in Memphis and the surrounding communities who would not otherwise have access to a Christian education through PDS.
High School
Meredith Ashley Fox
Memorial Scholarship Fund
Earnings and a portion of the principal from this memorial fund provide scholarships for eligible graduates of Binghampton Christian Academy to attend Evangelical Christian School.
Binghampton Christian Academy Graduates Scholarship Fund
This fund provides scholarships for graduates of BCA who are accepted for enrollment at eligible schools at the secondary education level.
College
The Berl Olswanger Memorial
Music Scholarship Fund
The earnings from this fund provide scholarships for qualified Christian students majoring in music at the college level.
College Music Scholarship Fund
The purpose of this fund is to support the objective of the endowed Berl Olswanger Memorial Music Scholarship Fund, which is to provide scholarship(s) to one or more qualified Christian students majoring in music by making expendable resources available.
Visible Music College Scholarship Fund
This fund provides scholarships for students in need, who are accepted for enrollment at the global Christian college.
Neighborhood Christian Center
Scholarship Fund
Earnings from this fund provide scholarships for needy and deserving students for enrollment at a post-secondary educational institution or vocational training school.
Post College
Fellows Fund
This fund provides scholarships and allows for the expansion of this program that promotes the relevance of the church to a generation of emerging leaders and instructs how our faith informs our work.
Seminary
Seminarian Support Fund
Earnings fund conditional scholarship grants for approved 2PC members to attend seminary and obtain a Masters-level degree.
T. Russell Seminarian Support Fund
The fund provides conditional scholarship grants for approved 2PC members to attend seminary and obtain a Masters-level degree. Members eligible for support are African American, Hispanic or anyone seeking to serve in urban ministry.
Crosby Memorial Scholarship Fund
Earnings fund conditional scholarship grants for approved 2PC members to attend seminary and obtain a Masters-level degree.
Internships
Gillespie Pastoral Internship Fund
The income from this fund is used to pay the salary of pastoral interns during their internship at Second Presbyterian Church.
Women in Vocational Ministry Residency Fund
This fund is used to support women aspiring to full-time Christian ministry as they train during their residencies at Second Presbyterian Church. Ministry opportunities include counseling, outreach, women’s ministry, missions, organizational leadership (ministry or non-profit), or other areas.
Youth Internship Program
Earnings from this fund are used for compensation for interns being trained for Youth Ministry.
Music Ministry Internship Fund
This fund sponsors academic year and summer internships for college students to serve within the music ministry of Second Presbyterian Church.
Music
Second Conservatory of Music Fund
This fund provides scholarships for individuals to build musical preparation for future service in ministry, music performance, and enjoyment.
Family Camp
Chauncey Johnson Family Camp
Scholarship Fund
Income from this fund is used for scholarships to attend 2PC Family Camp.
mission
Allison and Sandy Willson
Church Planting Fund
This fund and its earnings are used to provide financial support to church planting efforts at home and around the world that are strategic, missional, and reformed in character.
Riley Broadcast Technology Ministry Fund
This fund exists to support the broadcasting and streaming capabilities of the teaching and preaching ministries of the church.
Memphis
Memphis Inner City Mission Fund
The earnings from this fund provide grants to address the needs of the inner city.
Urban Ministry Fund
This fund and its earnings are used to establish inner-city missions in Memphis.
Home Mission Fund
The earnings from this fund support home mission grants.
Christian Psychological Center Fund
Earnings are to be used as a supplement to funds available for research and new program development as well as to pay for consultation services for those who need counseling but cannot pay the fee.
World
Chloe Malone Burch Foreign Mission Fund
Earnings fund grants made by the Foundation in support of foreign missions.
Wetter World Mission Fund
Earnings from this fund support world missions activities.
Charles R. Sherman and Rebecca L. Sherman World Mission Fund
Earnings provide funding for use by the Second Presbyterian Church World Missions Committee.
mission at second
Sharpe Music Education Fund
The earnings from this fund support Seconds childrens music education and related activities.
Donna Kyle Nursery and
Childrens Ministry Fund
Earnings from this fund are for use to support the nursery or childrens ministry.
John Owen Recreation Scholarship Fund
The earnings on this fund provide aid for youth to participate in the recreation program at 2PC.
Bee Wallis Memorial Library Fund
Earnings from this fund are to be used for the benefit of the Second Presbyterian Church Library.
Donor Advised Funds
When a donor gives assets to the Foundation and also serves as an advisor who recommends the grants to be distributed, a Donor Advised Fund is created. Grants may be distributed to Session-approved ministries. The Donor Advised Fund policy does allow a portion of the fund to be granted to other causes consistent with the Christian mission and approved by the Foundation Board of Directors.
Members of the congregation may wish to consider participating in the Foundation using a Donor Advised Fund. This type of fund fosters personal relationships between the donor and the recipients. It is an effective and convenient support mechanism for individuals who have a ministry focus or who wish to give gifts to more than one qualifying ministry. For further information on how to establish a donor advised fund please contact the Foundation office.
The following is a list of some of the agencies to which Foundation donors have directed their funds:
African Bible College
Binghampton Christian Academy
Church Health Center
French Camp Academy
Greater European Mission
JIFF
MCUTS
Navigators
Neighborhood Christian Center
Paulus Movement
Presbyterian Day School
Reformed University Fellowship
Salvation Army
Second Presbyterian Church
Second Presbyterian Church - NEXUS
Second Presbyterian Church - World Missions
Second Presbyterian Church Foundation
Streets Ministry
Young Life
Memorials
There are three types of memorials—undesignated, designated, and established. When a contribution is made to either the church or the Foundation and there is no specific ministry or fund designated, then that contribution is directed to the Foundation's Undesignated Fund. This is the most common memorial gift. Memorials may be directed to an existing designated fund. A named memorial may be established that will serve as a lasting memorial through providing dependable support for a specific ministry.