The Capital Improvement Fund was established in 1986 to be used to improve or replace major building or equipment items — roofs, air conditioners, and the like.
The Endowment Fund – Restricted was established early in 1987. The purpose of the Fund is to build up a restricted endowment of $100,000.00 and that the interest earned annually be used to maintain our property. Until the Fund reaches $100,000.00 the Session may determine how to use the interest. If the Session does not decide to use the interest in another way, it will be placed in the Fund to maintain its growth.
A Seminary Student Assistance Fund was established on April 28, 2002 to receive donations which will be used to pay for seminary related expenses (tuition, fees, books, etc.) for qualified persons. The Fund was established with a $5,000 gift and remains open for future contributions.
The Emergency Fund was established in 1955 to assist any member of the church or the church community. In addition to financial needs, spiritual assistance and work procurement assistance should also be considered. Funds are to be dispensed on the basis of need rather than the potential of repayment. Persons rendered assistance shall be advised that repayment may be made at such time as their circumstances permit, if they so desire. Funds shall be dispensed by the Pastor or by a member of the Mission Committee.
The Contingency Reserve Fund was established on June 28, 1992 for the purpose of funding the Church Budget as needs arise, based on concurrence of the Session. On August 23, 1992, the Session voted to give the Treasurer or Accountant permission to withdraw up to $3,000.00 at a time from this Fund as necessary to meet current budgeted expenses. The Treasurer or Accountant shall inform the Session at its meeting following each use of this Fund.
A Brokerage Account with the firm of Smith Barney, Charlotte, NC was established by the Session on July 20, 1997. This account will serve to process stock and/or other securities that may be donated to the Church by Church members or non-members. The Finance Advisory Committee will have responsibility for approving the sale or purchase of securities that are deposited in this account. The Church Treasurer or the Church Accountant will serve as liaison between the Church and Smith Barney Company, and is authorized to place, buy, or sell orders which have been approved by the Finance Advisory Committee.
The Evangelism Fund was established on April 28, 1991. The purpose of this Fund is to promote and advertise the ministry of Plaza Presbyterian Church, to tell the Good News, and to build up the Church’s image in the community. Money in the Fund is spent by the Communicating the Faith Committee with Session’s approval.
The Louise Wilson Fund for Study and Training was established by the Session on September 29, 1998 with a $10,000 gift from the Wilson Estate. The purpose of this fund is to provide scholarships (partial or full) for church members, their families, and church friends attending study or training events of all types (camps, conferences, Montreat, continuing education, and the like). The principal ($10,000) will be invested with the Presbyterian Foundation according to Session action, March 28, 1999. Only the earnings are to be used for these scholarships. Earnings not used in a calendar year will be allowed to accumulate in the Wilson Fund. The Elders on the Education and Fellowship Committee, with the pastor and other pastoral staff, will administer the Fund. Use of the Fund shall be reported to the Session in a timely fashion. (After five years, this Fund will be evaluated by the Session. If it has not been used to the Session’s satisfaction, the entire Fund may be put to another use.)
The Organ/Choir/Handbells Fund was established in 1986 to meet such needs in our music ministry as the purchase of handbells, additional ranks of pipes for our pipe organ, or other organ/handbell/choir equipment.
The Willis Henderson Fund was established by the Session on February 28, 2005 for the purpose of funding concerts and recitals in the Plaza Musical Arts Series. The Fund was established with a $10,000 gift from Willis Henderson in December of 2003. The Fund remains open to receive additional donations. Offerings received at the Plaza Musical Arts Series’ events will be placed in the Fund.
A Sabbatical Fund was established on February 25, 1996 with $1,250.00 for the purpose of funding the Pastor’s sabbatical. Church members are encouraged to contribute to this Fund.
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