Dear Second Presbyterian Church Family and Friends,
May of 2023 marked the 25th anniversary of the establishment of the Second Presbyterian Church Foundation. The commemoration spanned eighteen months and included sponsoring six parish events with 211 in attendance; four unique designated fund events with 303 in attendance; an unprecedented congregation- wide event with 400 in attendance; and a matching fund opportunity.
With all praise to our God, strategic and significant impact is the concluding result of these efforts. While the tenacles of this impact are intricate, have longevity, and bear eternal fruit, the broad perspective includes the following.
Ministry Impact
$4,990,543 generated and channeled for ministry purposes of 2PC and its ministry partners.
A similar matched amount released for the benefit of specified ministries.
31 Foundation Designated Funds further solidified, increasing continuity for ministries. Four new funds were established for a total of 35 Designated Funds significantly impacted.
Church Impact
Designated Funds provide reliability for Second in multiple areas: significant increases in dedicated support for residents including Youth, Pastoral, Women, and Music; and incremental increases in program funding for departments such as Music and 2PC Sports.
Allows Second to support its Gospel Priorities Ministries at a strategic level over and above its general operating and world mission budgets.
Foundation Impact
The Foundation’s overall granting capability is signficantly improved.
Designated Funds are strengthened.
Groundwork has been laid for Undesignated Fund to expand strategic granting, leading to
more ministry impact.
Sister Organization Impact
The following organizations were able to leverage the opportunity to raise significant dollars for the Foundation
Funds that are designated specifically for their ministries:
Christian Psychological Center, Presbyterian Day School, Memphis City Seminary, Campus Outreach, Esperanza, and The Collegiate School of Memphis
During this season in the life of the Foundation, I have been asked - “This is an incredible gift, but why would the Foundation do that? It seems too good to be true.”
So why did the Board of the Foundation carefully consider, deliberate, and ultimately re-align nearly $5,000,000 from its endowment? In the beginning it was a small simple gesture of thanks to you, the members of the congregation, for your support in entrusting the Foundation over these 25 years with both legacy and bequest gifts and those sacrificial gifts above and beyond the church tithes and offerings. It was a way to mark the occasion by allowing you to have a definitive voice in the decision about the ministries that you are indeed passionate about with a match. It also was designed to help the congregation in a tangible way to better understand how the Foundation functions and to whom it makes grants.
Just like the Founders could not imagine that at 25 years the Foundation would have grown from $3,000,000 to nearly $30,598,000 in combined assets while also giving away over $33,000,000, this Board had no idea the response from members of the congregation and other fund stakeholders would be so generous. As a result of participation in the match and other recent gifts to the Foundation, the combined asset amount is now well over $40,000,000.
Due to that response, here we all stand grateful to steward well these resources for the benefit of our beloved church and its Gospel priorities.
On behalf of the Board of Directors and the unquantifiable number of ministries and individual lives impacted, THANK YOU and may you know the rich blessings of our eternal Father.
