Page 24 - Final Annual Report 2020

RESTRICTED ENDOWMENT FUNDS

Funds in which the principal is held in perpetuity

BOBBIE MORRISON ENDOWMENT FOR YOUTH MINISTRIES: Earnings support youth activities including
work camps, Sunday School programs, scholarships, Middle and Senior High Fellowship programs and other related
activities.

MORRISON ENDOWMENT FOR LANDSCAPING, GROUNDS and GARDENS: Earnings support landscaping
needs including the Memorial Garden, Church Grounds, and the Parsonage.

MEMORIAL GARDEN PERPETUAL CARE FUND: Earnings are transferred to the Memorial Garden Fund
(below).

CAROL W. LEITCH MEMORIAL GARDEN TRUST: Earnings support the care and maintenance of the Memorial
Garden, supplements the music program, and provides an annual book award to one or more middle school students.

WILLIS N. PITTS JR. SCHOLARSHIP FUND: Earnings provide scholarship funds for inner city youth.

RUTH and DAVID JOHNSON BIBLE FUND: Earnings purchase bibles for third grade students and for members of
the confirmation class.

MARGUERITE S. IVERSON CHRISTIAN EDUCATION FUND: Earnings support special programs and needs of
the C.E. program.

REV. KENNETH D. POWELL ENDOWMENT FOR THE CREATIVE WORD. Earnings honor the memory of
Rev. Kenneth Powell with an annual program to enrich the worship and spiritual life of our community by bringing the
work of artists, intellectuals and performers who use spoken, musical, and written words to us to learn about and to
worship God.

WINNIE AND CHARLIE WILLIAMS ENDOWMENT – The use of this new fund is yet to be determined.

Funds from which the principal may be spent

MEMORIAL GARDEN FUND: Supports the care and maintenance of the Memorial Garden.

EDWARD H. AND GLADYS Y. BARRY MUSIC FUND: Supports the sacred arts / music program.

LILLIAN WATERS SERVICE PROJECTS FUND: Supports service and growth opportunities for young people.

CORNERSTONE FORUM – Supports an annual community forum to encourage public discussion about ethical and
moral issues facing communities and to identify ways to make our world a better place. The Cornerstone Forum was
restructured in 2018 and is currently on hiatus.

OVERCOME FOOD INSECURITY FUND: Supplements fund-raising for "The Miracle on 25 S. Main Street"
(after other annual contributions, fund raisers, etc.). If the "Miracle” ceases to exist, all remaining funds shall be
applied to similar projects to "Overcome Food Insecurity".

PILGRIM CHURCH SERVICE SCHOLARSHIP (for a male) and the DOROTHY M. QUINN SERVICE
SCHOLARSHIP (for a female): These scholarships are awarded to first-year college students, selected by
representatives of the women’s and men’s groups. This year a donation was made in memory of Dottie Quinn.

20