Grace Hope Presbyterian Church

Mary E. Ford Memorial Scholarship-Grace Hope Presbyterian Church

Beneficiary location:

Louisville, KY

Account number: 102240031158

Designated Use

Income from the Fund shall be used for the purpose of awarding educational scholarship awards to graduating high school seniors who are members of Grace Hope Presbyterian Church and who will be attending a four-year college or university for the fall term following high school graduation. It is the donor's intention that each Mary E. Ford Scholarship recipient should receive an award in the amount of $500.00. Five years following the establishment of this fund and on each fifth anniversary thereafter, beneficiary may, at its discretion, increase the amount of each award in increments of $100.00 to address the rising cost of education over time. Beneficiary may allow income from this fund to accumulate in an account administered by the Presbyterian Foundation or its subsidiaries. The accumulation of earnings is intended to permit the beneficiary to determine the timing and amount of distributions for award each year. Draws from accumulated earnings should be in amounts that provide for the maximum number of annual scholarship awards beneficiary can make based upon the award amount of $500 (as adjusted upward over time as permitted above).