TRUE – On December 27, 1979, Session established the Foundation Fund and its governing committee. Dr. Douglas Wright began his ministry on December 1, 1979.
FALSE – The Fund for the First Presbyterian Church, Sun City, is to maintain and expand the mission of our church. Over the years, funds were withdrawn at a faster pace than earnings warranted. At the recommendation of The Fund Committee, the Session is taking steps to maintain the principle and the intent of T426he Fund so the financial and physical foundation of our congregation and campus will flourish now and over time.
TRUE – All gifts designated for The Fund are gratefully received. Watch for Spire articles about donors who are making Legacy Gifts for the future of our church.
FALSE – In addition to cash gifts, appreciated stocks and bonds, real estate and even life insurance policies - when First Presbyterian Church, Sun City is the owner or beneficiary of the policy – are gratefully accepted and acknowledged.
FALSE – Gifts, whether cash or other types of assets, are tax deductible. Please check with your tax advisor when deciding what type of gift best suits your estate planning.
TRUE – The Fund Committee members are Ruth Pruett and Dean Hilst, session members, and Gene Klatte, Marilee Marshall, and Charlotte Pooley, members at large. Pastor Davis, Norma Mack and Carol Davis serve as advisors.
FALSE – The overriding objective of endowment funds is to grow the aggregate portfolio value. With historic earnings at seven to eight percent, capping earning disbursements at four to five percent allows endowments to reinvest each year – growing the portfolio with long term investments while increasing the amount of funds available for disbursement.
If your answer to No 7 was earning disbursements from endowment funds are capped at 4% to 5% annually, please contact Carol Davis to collect your prize!
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