The Pinnacle Foundation

Pinnacle Presbyterian Church Foundation Report

by Bob Armstrong, Foundation President

2022 Trustees:

Bob Armstrong, President and Treasurer

Ruth O’Brien, Vice President

Donna McIntosh-Fletcher, Secretary

Charles Christoph

Nancy Conover

*Rev. Erik Khoobyarian

*Dr. Wes Avram

*Susan Rose, Elder Finance Committee

*George Colberg, Elder Stewardship Ministry

*ex-officio member

The primary mission of the Pinnacle Presbyterian Church Foundation (PPCF) is to assist in preserving the future of the church and our mission to spread the love of God. In order to achieve this the Foundation Trustees (see listed):

• Provide communication and education to our congregation to encourage legacy and planned giving to the Foundation.

• Provide oversight of the investment and growth of our donors’ gifts that are professionally managed by an outside entity under the Trustees direction.

• Return funds each year to the church and mission opportunities that are designated by donors with guidelines established by donor agreements.

The funds in the Foundation as of 12/31/22 totaled $1,045,659, a decrease of $332,680 from the 12/31/21 balance. The majority of the decrease was related to market performance. Funds returned to PPC in 2022 totaled $48,253 and were distributed as follows: $32,278 from the General Fund, $10,000 for Mission, $2,000 for Scholarship and $3,975 from the two Music Funds. The Foundation has funds in two types of accounts:

• The first is the General Fund, which is primarily used for operating related items and campus maintenance or improvements. Disbursements come from accumulated income rather than principal.

• The second type are specific purpose funds, where the donor identifies an existing ministry where the church is in need of additional funding, or a new ministry that expands church activities. The hope is that others will join with gifts for the same goal.

The balance of each fund as of December 31, 2022 was:

A few examples of where the Foundation was able to make a positive difference in the community in 2022: We were excited to be able to provide funds in the amount of $10,000 through the Mission Committee for a donation to UMOM. UMOM is one of Pinnacle Presbyterian Church’s mission partners that provides shelter and support services to women and their families. We were also proud to award a $2,000 scholarship to Eliza Punches, which will assist in continuing her education.

The Foundation Trustees along with Pinnacle’s clergy staff are always grateful for the vision behind each gift that our members provide. If you would like to know more about the Foundation and giving opportunities, please visit the church’s website at pinnaclepres.org/pinnaclefoundation.