Wednesday, April 9, 2014

Foundation Fund Quiz

What is the Foundation Fund for the First Presbyterian Church, Sun City?  Take this True/False quiz to find out how much you really know about it.  (The answers will be printed tomorrow!)

1. T or F ________
The Foundation Fund, also known as The Fund, was started in December, 1979 – shortly after Dr. Douglas Wright began his ministry at our church.
2. T or F ________
The Fund was established to supplement the annual operating budget, for major repairs and maintenance for the campus.
3. T or F ________
The objectives of The Fund are realized through gifts and bequests.
4. T or F ________
Cash gifts, pledges, and bequests are the only accepted donations.
5. T or F ________
Gifts do not qualify for a federal tax deduction.
6. T or F ________
The Fund is overseen by The Fund Committee of two (2) Session members and three (3) members at large.
7. T or F ________
Generally accepted endowment fund policies allow for 7% to 8% of earnings to be withdrawn on annual basis and principal as needed.

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