Sharon Community Presbyterian Church

Sharon Community Presbyterian Church Memorial Fund, Reuel E. Johnson Scholarship Fund

Beneficiary location:

Moon Township, PA

Account number: 102240000749

Designated Use

The Sharon Community Presbyterian Church shall administer its use of the income from this fund in accordance with the terms of the Resolution adopted by the Session of the Sharon Community Presbyterian Church of Coraopolis, Pennsylvania at its regular meeting on the 14th day of July, 1981, a copy of said Resolution is identified as Exhibit A, which is attached to this agreement and made a part hereof: I. Purpose: It shall be the purpose of this scholarship fund to provide field education experience to qualified persons who desire to dedicate their lives in church related service, under the supervision of the Presbyterian Church (USA). Preference will be given to Middle and Senior students from Princeton Theological Seminary or Pittsburgh Theological Seminary who desire to fulfill their field education requirements at a multiple staff suburban congregation. However, candidates for the parish ministry or other full-time related service are to be considered from other seminaries, as well. Primary consideration shall be given to persons serving the Sharon Community Presbyterian Church. II. Eligibility: All applicants must be attending an accredited theological seminary and must be under the care of a Presbytery in the P.C. (U.S.A.). III. Assistance: The financial assistance to be so provided will be limited to funds derived from interest or dividend income only, and will be used to defray costs incurred in the administration of such Field Education Program. IV. Administration: The Sharon Community Presbyterian Church Memorial Committee will administer all financial arrangements. The selection and oversight of the recipients of such assistance will be handled by the Pastor in cooperation with the Personnel Committee of the Session and the Field Education office of the Seminary. V. Treatment of Principal: The principal amount of the Fund is to be held in tact and may be augmented by additional bequests, grants, memorials, etc., as endorsed by the Memorial Fund Committee and approved by the Session. In event interest or dividend income is not used during any academic year, such income shall be added to the principal and will not be subject to further disbursement. VI. Special Collections: Each year a special collection will be taken on the first Sunday in Lent and the proceeds of all loose offerings and special gifts will be placed in the Reuel E. Johnson Scholarship Fund. VII. Management of Fund: The Fund will be managed through the Presbyterian Church (USA) Foundation of Jeffersonville, Indiana, with income being remitted to Sharon Community Presbyterian Church.