The Eastminster Endowment

Eastminster Presbyterian Church Endowment Fund: PURPOSE: Established to encourage members to support Christ’s work in perpetuity. (50% Missions & 50% Church Ministry) BALANCE: (As of December 31, 2020) $1,182,844.67 *This fund received an anonymous $500,000.00 gift in 2020. 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: (As of December 31, 2020) $70,178.44 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: (As of December 31, 2020) $1,298,034.94 RECENT BENEFIT: $19,846.61 was used to assist with tuition for three seminary students & 1 doctoral candidate (2020). 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: (As of December 31, 2020) $127,793.64 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: (As of December 31, 2020) $203,266.27 Youth SCHOLARSHIP Fund: PURPOSE: Established by the church to provide scholarship assistance for youth to attend retreats and mission trips. BALANCE: (As of December 31, 2020) $57,441.51 International Student Scholarship Fund: PURPOSE: Established by the church to provide support for worthy international students. BALANCE: (As of December 31, 2020) $74,280.87 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: (As of December 31, 2020) $92,308.27 RECENT BENEFIT: $15,328.25 was used to help three families through scholarship assistance enabling their child to attend EDS (2020). 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: (As of December 31, 2020) $18,270.34 Wood Seminary Scholarship Fund: PURPOSE: Established by Gettis and Mary Vin Wood to provide scholarships for EPC members who are attending seminary. BALANCE: (As of December 31, 2020) $30,121.57 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: (As of December 31, 2020) $89,979.74 RECENT BENEFIT: $3,000.00 was used to assist a non EPC-member (single mother) (2020).

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%.