The evening of Friday, April 6th has been set aside to celebrate, learn more about the impact of the Foundation, and be encouraged by guest speaker Dr. J. Ligon Duncan, III, Chancellor, CEO and Professor of Systematic and Historical Theology at Reformed Theological Seminary. Dr. Duncan may be remembered as the key worship leader some years ago at the community-wide reformation service held at Second.
A native of South Carolina, Dr. Duncan received his Ph.D. from the University of Edinburgh in Scotland and supplied churches in Britain. In addition to serving on the faculty of RTS, his pastoral ministry for over three decades and four congregations includes that of Senior Pastor at historic First Presbyterian Church in Jackson, Mississippi. He became Chancellor/CEO of RTS in 2013. He has authored or contributed to 35 books, is active in the Presbyterian Church of America, and has frequently addressed audiences here and abroad. Learn more about Dr. Duncan.
Make plans to attend this free dinner event, which begins at 6:30 p.m. in the Fellowship Hall. Make your reservations online (one registration is required for each person attending).
New Fund Provides Scholarships for Visible Music College Students
The Foundation has established the Visible Music College Scholarship Fund to provide financial scholarships for needy and deserving students who are accepted for enrollment at Visible Music College. The Visible Music College is a global Christian college designed to train and equip musical artists, producers and professional managers in skill and character for effective service in the music industry and the Church, and to stand out as Christians in their profession. This is achieved through a rigorous accredited program in association with an internal record label. Students are launched into their field as musicians, producers, church worship leaders, and community volunteers.
Visible Music College was established in 2000 by Founder and President Dr. Ken Steorts. Ken's vision was shaped while touring worldwide as a performer with the Dove Award-winning and Grammy-nominated Christian band Skillet. During this time, he observed young musicians with great promise but little instruction or guidance. Drawing from both traditional and vocational educational models, he pioneered an educational center where a mix of academic music study, technical skill development and character-building mentorship produces qualified, creative and passionate world-changers for the Church and the entertainment industry.
Visible Music College attracts students from all 50 states and over 25 foreign countries. Within a Christian discipleship model, students get hands-on professional experience while earning an accredited bachelor degree. Visible graduates work in ministry as well as the broader music industry. In ministry jobs, they're employed at churches as worship leaders, music directors and audio technicians. In the music industry, they're affecting popular culture managing record labels, marketing music venues and becoming pop artists. They have recently had students as finalists on NBC's The Voice and American Idol.
Geordy Wells is Vice President of Advancement and a member of Second Presbyterian Church. He stated, “Students from around the world would not be able to attend Visible Music College without support from the school's institutional scholarship fund. In fact, about 80% of Visible students typically need assistance. Through the Second Presbyterian Church Foundation, Christian leaders and gifted musicians pursuing ministry will benefit from this initiative now and into the future. We are so thankful for the Foundation's support for our students, programs and mission.”
The grants made from the Fund are to be used for the purpose of providing scholarships for tuition, books, or room and/or board at Visible Music College. Priority is to be given to the application of these scholarships for needy and deserving students from the Memphis area or needy and deserving international students. Additional priority is to be given to students pursuing a degree in modern music with a major in worship leadership, vocals, or instruments, whose aim upon graduation is to serve within the Christian community or express their talent as a Christian artist.
While the Fund is an endowment for scholarships, it also has an expendable component, which allows donors to contribute resources that can be immediately deployed to support current student scholarships.
Those who would like to make a donation to The Visible Music College Fund through the Foundation can call Vicki Simmons at (901) 507-7898 or send her an email.
Gifting Appreciated Stock Can Benefit Donors and the Foundation
The U.S. stock markets are at all-time highs. The new tax law has retained the special tax benefits regarding the gifting of securities. One of the advantages of owning stocks, mutual funds or other securities is that they can work for you in ways you may not have considered. When you make a gift of an appreciated stock to a qualified charity such as the Foundation, you can benefit in several ways.
Donors can receive an income tax deduction for the full current market value of the transferred stock.
Donors can avoid capital gains tax regardless of how much the stock has appreciated.
Donors can avoid capital gains tax regardless of whether deductions are itemized.
Gifts of appreciated securities can raise itemized deductions above the standard deduction and this allows donors to better utilize other deductible expenses.
The deduction for gifts of appreciated securities can shelter taxable income up to 30% of adjusted gross income, with excess deductions available for use for up to five years.
If you own stock that has grown in value, you wish to sell, and you are looking for a way to avoid owing capital gains tax, consider making a gift of your stock to help further the Foundation’s mission. If you own stock that has decreased in value and you desire to sell, consider making a gift of the sales proceeds, as you may be able to combine the loss and the charitable gift to have deductions that are more than its current market value. Your gift will have an impact on the Foundation’s ability to make grants.
Many donors make such gifts as the end of the year nears in order to realize their tax benefits during that current year. A discussion with your financial advisor and your tax professional is always encouraged before making this type of gift. For assistance in making a stock transfer, contact Debi Erickson at (901) 454-0034, ext. 186, or contact her at debi.erickson@2pc.org.
Questions about the Foundation?
Contact vicki.simmons@2pc.org
or visit the 2PC Foundation online