History and Purpose:
The Pritchard Memorial Endowment was established with a gift from a long-time Pritchard member in 1999. Since that time, there have been bequests from several other church members and along with investment proceeds, the Endowment continues to grow. The Endowment currently has seven established funds that are committed to exemplify the Spirit of Christ by supporting children and youth, music, and including but not limited to the maintenance and repair of the church and its grounds, and sabbaticals.
How can you participate?
Individuals and families can participate by making bequests in many forms. The Endowment Committee, at its discretion, must approve all gifts. Some examples of non-cash gifts are:
- Real Property—must have clear title
- Life Insurance—by purchase, beneficiary designation, or ownership change
- Retirement Plan Proceeds
- Through your will or a trust
- Charitable Remainder Annuity Trust (CRAT)
You should seek legal and accounting advice prior to making any gift. The PMBC staff nor the Endowment Committee provide legal or accounting advice.
The Endowment is managed by the six members of the PMBC Endowment Committee. The Committee meets no less than quarterly and reports to the congregation at each quarterly business meeting. The Committee oversees investments, bequests, expenditures, and selects and monitors the investment advisor. The current investment advisor is Bragg Financial Advisors, Charlotte, NC.
How can Endowment Funds be used?
Proceeds from the Endowment can be used for supporting children and youth, music, and including but not limited to the maintenance and repair of the church and its grounds, and sabbaticals. No expenditure can be used for a budgeted item! Some recent examples of Endowment expenditures are:
2017 - Lottie Moon Offering
2017 - Annie Armstrong Offering
2017 - Replace Air Conditioner - Gym 2nd Floor
2017 - Replace Air Conditioner - Fellowship Hall
2017 - Repair Lower Parking Lot
2016 - Replace Fletcher Lodge HVAC
2016 - Assist Youth - Caswell Summer Camp
2015 - TV Ministry - Tri-Caster
2015 - Sanctuary Organ Repairs
Giving to the Endowment is a rewarding way to support PMBC in perpetuity. No matter how great or small the gift, your gift will provide years of support for PMBC and its goal to reach lost souls for Christ.
If you would like to find out how you can participate, please contact the church office and ask to be contacted by one of the PMBC Endowment Committee members.