Solomon Endowment
The Solomon Endowment
Solomon Endowment
“All the fabulous things—the sanctuary, the organ, the stained glass—have been done by previous generations. It’s our turn, our gift to coming generations. We all want the people who follow to have the experience we’re having.”
Solomon is a perfect namesake for our Endowment. He was a great Old Testament king known for his wisdom. He built a temple in Jerusalem that lasted for hundreds of years and became a center of Jewish faith.
Similarly, the Solomon Endowment will provide both long-term preservation of principal and a predictable source of annual income.
The Solomon Endowment
includes five possible designations:
General Endowment
to help underwrite the congregation’s support for Church operations as directed by FPC Session
Mission Endowment
for mission giving to ministries within and beyond the congregation
Building and Grounds Endowment
for the maintenance and renewal of the Church building and grounds
Education and Faith Formation Endowment
for educational programs and ministries for congregants and community members
Worship and Arts Endowment
to support the worship, music, and other Arts of First Presbyterian Church
The Solomon Endowment is a permanent endowment, funded by donor-restricted gifts. Gifts may be given outright, such as securities or other accumulated assets, or planned, primarily through estate/will bequests.
All gifts to the Solomon Fund are maintained as principal and invested to provide a permanent source of income. Only the investment income is used by the Church.The annual draw from the Solomon Endowment, currently 4%, supports the annual operating budget of the Church.The Finance Office of the Church tracks the assets in the Solomon Endowment to ensure income associated with each of the five designations is properly spent.
How to designate a planned gift to the Solomon Endowment
If you have any questions about making a gift to the Solomon Endowment, please contact the Business Manager at First Presbyterian Church at (740) 587-0178. We also recommend you consult your own legal and financial advisors.
