The Eastminster Endowment

Eastminster Presbyterian Church Endowment Fund: PURPOSE: Established by the church to encourage members to support Christ’s work in perpetuity. (e.g., memorial donations) BALANCE: *(As of December 31, 2019) $568,162 RECENT BENEFITS ($14,399.89) Grounds Improvement, Chairs for Thompson Hall, Buggy for Nursery, Donations to MBF & Free Medical Clinic

Frank and Betty Harden “Reaching out with Love” Endowment Fund: PURPOSE: Established by Frank and Betty Harden to support Christ’s work in perpetuity, 50% Missions & 50% Church Ministry BALANCE: *$62,373 RECENT BENEFITS: ($2,132.47) Portable Fender Sound System, Donation to Harvest Hope Food Bank Dr. Joe Bryan Donaho Teaching Church ENDOWMENT Fund: PURPOSE: Established in thanksgiving to God for Dr. Donaho’s encouragement and emphasis for Eastminster to impact lives for Christ’s Kingdom by being a teaching church; to bring people to learn by serving here at EPC, or in other Christian ministries. BALANCE: *$1,166,106 the robert b. ariail & patricia b. ariail marriage enrichment and support ENDOWMENT fund: PURPOSE: Established in 2019 by the Ariails for the creation, support, or administration of programs or activities that enrich and support marriage. BALANCE: *$66,830 the ariail property ENDOWMENT Fund: PURPOSE: Established in 2019 by the Session in honor and memory of the Ariails for the purpose of maintaining the physical plant of Eastminster in perpetuity. BALANCE: *$100,244 Youth SCHOLARSHIP Fund: PURPOSE: Established by the church to provide scholarship assistance for youth to attend retreats and mission trips. BALANCE: *$34,282 International Student Scholarship Fund: PURPOSE: Established by the church to provide support for worthy international students. BALANCE: *$66,019 RECENT BENEFIT: $4,000 financial aid for medical students in Haiti (via MBF- 2019) Missy Boyd Eastminster Day School SCHOLARSHIP Fund: PURPOSE: Established by Austin and Barbara Boyd in memory of their daughter, Melissa “Missy” Blair, to assist EDS families facing unexpected financial hardships. BALANCE: *$95,855 RECENT BENEFIT: $4,075 was used to help two families through scholarship assistance enabling their child to attend EDS (2019). Stradtman Memorial Seminary Scholarship Fund: PURPOSE: In memory of Mr. Earl W. Stradtman to provide scholarships for EPC members attending approved PC-USA seminaries. BALANCE: *$16,238 RECENT BENEFIT: $940 in financial aid for an EPC member (PC-USA seminaries - 2019) Wood Seminary Scholarship Fund: PURPOSE: Established by Gettis and Mary Vin Wood to provide scholarships for EPC members who are attending seminary. BALANCE: *$26,771 Carolyn Holderman Family Nurture ACCELERATED MISSION Fund: PURPOSE: Created by Nancy and Dr. Brad Smith in memory of Nancy’s mother, Carolyn M. Holderman, to provide family nurture opportunities, or help women with children facing difficulties. BALANCE: *$83,553

Members of the Endowment Committee counter-clockwise above: Sharmin Hill, Bill Collins, Andy Lowrey-Chair, Alec Chaplin, Jr., Bill Francis and Sharon Bryant allowable expenditure POLICIES: Endowment Fund: The total allowable expenditure for the next fiscal year is calculated annually by averaging the ending balances (e.g., principal plus total income) as of December 31, for the past three years (two for newer accounts) and multiplying this average by the spending rate. Scholarship Fund: The total allowable expenditure for each of the scholarship funds will be any balance available above the original principal of the funds. Accelerated Mission Fund: Allowable expenditure is the same as the Endowment Fund (above) plus 3%.