Undesignated Funds

When the Foundation receives a gift from a donor who does not specify how it may be used, it is added to the undesignated fund. This is the permanent endowment fund that is the depository for any bequests that do not have specific designations. The major strategic grants come from the earnings of this fund. These strategic grants are typically for entrepreneurial endeavors, either start up ministries or emerging efforts within existing ministries, and when applicable support ministries that are reformed in nature.

Designated Funds

When a donor does specify an intended use for a gift it’s considered a designated fund. Funds are either expendable, allowing the principle and earnings to be spent, or non-expendable, allowing only the earnings to be spent. Specific funds that are available to receive such gifts are:
Allison and Sandy Willson Church Planting Fund This fund and its earnings are used to provide financial support to church planting efforts at home and around the world that are strategic, missional, and reformed in character.
Bee Wallis Memorial Library Fund Earnings from this fund are to be used for the benefit of the Second Presbyterian Church Library.
The Berl Olswanger Memorial Music Scholarship Fund The earnings from this fund provide scholarships for qualified Christian students majoring in music at the college level.
Binghampton Christian Academy Graduates Scholarship Fund This fund provides scholarships for graduates of BCA who are accepted for enrollment at eligible schools at the secondary education level.
Charles R. Sherman and Rebecca L. Sherman World Missions Fund Earnings provide funding for use by the Second Presbyterian Church World Missions Committee.
Chauncey Johnson Family Camp Scholarship Fund Income from this fund is used for scholarships to attend 2PC Family Camp.
Chloe Malone Burch Foreign Mission Fund Earnings fund grants made by the Foundation in support of foreign missions.
Christian Psychological Center Earnings are to be used as a supplement to funds available for research and new program development as well as to pay for consultation services for those who need counseling but cannot pay the fee.
Clay Scholarship Fund This fund assists members of Second Presbyterian Church and the ministerial staff with tuition assistance for their sons to attend Presbyterian Day School.
College Music Scholarship Fund The purpose of this fund is to support the objective of the endowed Berl Olswanger Memorial Music Scholarship Fund, which is to provide scholarship(s) to one or more qualified Christian students majoring in music, by making expendable resources available.
Donna Kyle Nursery and Children’s Ministry Fund Earnings from this fund are for use to support the nursery or children’s ministry.
Fellows Fund This fund provides scholarships and allows for the expansion of this program that promotes the relevance of the church to a generation of emerging leaders and instructs how our faith informs our work.
Gillespie Pastoral Internship Fund The income from this fund is used to pay the salary of pastoral interns during their internship at Second Presbyterian Church.
Home Missions Fund The earnings from this fund support home mission grants.
John Owen Recreation Scholarship Fund The earnings on this fund provide aid for youth to participate in the recreation program at 2PC.
Memphis Inner City Mission Fund The earnings from this fund provide grants to address the needs of the inner city.
Meredith Ashley Fox Memorial Scholarship Fund Earnings and a portion of the principal from this memorial fund provide scholarships for eligible graduates of Binghampton Christian Academy to attend Evangelical Christian School.
Music Ministry Internship Fund This fund sponsors academic year and summer internships for college students to serve within the music ministry of Second Presbyterian Church.
Mozambique Fund This fund provides support for ministry efforts in Mozambique coordinated through the World Missions department of Second Presbyterian Church.
Neighborhood Christian Center Scholarship Fund Earnings from this fund provide scholarships for needy and deserving students for enrollment at a post-secondary educational institution or vocational training school.
Presbyterian Day School Young Scholars Fund This fund is designed to provide scholarships for boys in Memphis and the surrounding communities who would not otherwise have access to a Christian education through PDS.
Riley Broadcast Technology Ministry Fund This fund exists to support the broadcasting and streaming capabilities of the teaching and preaching ministries of the church.
Second Conservatory of Music Fund This fund provides scholarships for individuals to build musical preparation for future service in ministry, music performance, and enjoyment.
Seminarian Support Fund Earnings fund conditional scholarship grants for approved 2PC members to attend seminary and obtain a Masters-level degree. Sharpe Music Education Fund The earnings from this fund support Second’s children’s music education and related activities.
Urban Ministry Fund This fund and its earnings are used to establish inner-city missions in Memphis.
Wetter Mission Fund Earnings from this fund support world missions activities.
Youth Internship Program Earnings from this fund are used for compensation for interns being trained for Youth Ministry.

Donor Advised Funds

When a donor gives assets to the Foundation and also serves as an advisor who recommends the grants to be distributed, a Donor Advised Fund is created. Grants may be distributed to Session-approved ministries. The Donor Advised Fund policy does allow a portion of the fund to be granted to other causes consistent with the Christian mission and approved by the Foundation Board of Directors.

Members of the congregation may wish to consider participating in the Foundation using a Donor Advised Fund. This type of fund fosters personal relationships between the donor and the recipients. It is an effective and convenient support mechanism for individuals who have a ministry focus or who wish to give gifts to more than one qualifying ministry. For further information on how to establish a donor advised fund please contact the Foundation office. The following is a list of some of the agencies to which Foundation donors have directed their funds:

  • African Bible College
  • Binghampton Christian Academy
  • Church Health Center
  • French Camp Academy
  • Greater European Mission
  • JIFF
  • MCUTS
  • Navigators
  • Neighborhood Christian Center
  • Paulus Movement
  • Presbyterian Day School
  • Reformed University Fellowship
  • Salvation Army
  • Second Presbyterian Church
  • Second Presbyterian Church – NEXUS
  • Second Presbyterian Church – World Missions
  • Second Presbyterian Church Foundation
  • Streets Ministry
  • Young Life

Memorials

There are three types of memorials – undesignated, designated, and established. When a contribution is made to either the church or the Foundation and there is no specific ministry or fund designated, then that contribution is directed to the Foundation’s Undesignated Fund. This is the most common memorial gift. Memorials may be directed to an existing designated fund. A named memorial may be established that will serve as a lasting memorial through providing dependable support for a specific ministry.