General Assembly of the Presbyterian Church (U.S.A.)

The Loy Scholarship Fund

Beneficiary location:

Louisville, KY

Account number: 203100057413

Designated Use

The young men and women receiving scholarships shall be selected by the appropriate committee of the Orange Presbytery (North Carolina) [n/k/a New Hope Presbytery and Salem Presbytery], or its successor, with preference given to persons residing within the jurisdiction of the Orange Presbytery. Scholarships shall be awarded to persons desiring to give their full time in service to the Church of our Lord. They should possess the characteristics of dedication, capability and need. The scholarships for young men shall be for students desiring to attend Davidson College or Union Theological Seminary in New York or successor institutions.The scholarships for young women shall be for students desiring to attend the Presbyterian School of Christian Education, Richmond, Virginia, or any successor institution.In the event there should not be a successor institution for those named above, the Orange Presbytery shall select such other school of like purposes as it deems appropriate.Such amounts of the income from the funds held by The Presbyterian Foundation, Inc., (US), as may be necessary to provide scholarships awarded by the Orange Presbytery shall be sent to the Orange Presbytery upon written request by the Orange Presbytery made to The Presbyterian Foundation, Inc. (US). The Orange Presbytery shall disburse the funds received by it to the persons to whom the scholarships have been awarded. In the event all of the income is not used in any year, it shall be reinvested by The Presbyterian Foundation, Inc. (US).