Idlewild Presbyterian Church

Jack and Jimmie Yarbrough Endowment Fund

Beneficiary location:

Memphis, TN

Account number: 102240100644

Designated Use

To provide scholarships for deserving graduate and undergraduate students who are members of Idlewild Presbyterian Church or from the Memphis Presbytery. Only the income of the Fund is to be used for this purpose. The Board of Trustees of Idlewild Presbyterian Church are appointed as Trustees of the Fund. The Trustees, acting upon the recommendation of the Senior Minister of Idlewild Presbyterian Church with approval of the Session, shall select from names provided to them such person or persons who are to receive the scholarship provided that scholarship granted in each year shall not exceed the net income of the Fund except as hereinafter provided. In making such selections, the Senior Minister and the Trustees shall follow an order of preference:i) In making such selection, financial need shall be the paramount consideration, potential leadership in the church shall be the second consideration.ii) If other criteria are met, education and/or music students shall be given preference.iii) To a student who is a member of Idlewild Presbyterian Church, be that student a graduate student or an undergraduate student.iv) If students from Idlewild Presbyterian Church are eligible and available both at the graduate or undergraduate level preference shall be given to the undergraduate level.v) If no student is available from Idlewild Presbyterian Church for either the graduate or undergraduate category, a student who is a member of a congregation belonging to the Memphis Presbytery who is a graduate or undergraduate student shall be preferred. If more than one is available, preference shall be given to the student who is the undergraduate student.vi) Students already receiving the scholarships shall be given precedence for additional academic years until their course of study is completed so long as they remain in good academic standing.In unusual circumstances of special need or an abundance of worthy applicants the Trustees may recommend that up to ten percent (10%) of the corpus be used for scholarship grants. Such recommendation shall be subject to approval by the Session of Idlewild Presbyterian Church.