Presbyterian Church (U.S.A.), A Corporation

Arthur F. Loewe Memorial Fund

Beneficiary location:

Louisville, KY

Account number: 203100057685

Designated Use

(a) Except as otherwise provided in this Article XC4, I direct that the income from the distributive share be paid to such Presbyterian seminaries as the Counsel on Theological Education of the United Presbyterian Church in the United States of America (or if discontinued, the appropriate body designated by the General Assembly) may determine to be advisable for the benefit of those Presbyterian students worthy and in need of financial assistance and who are preparing for the parish ministry and who are most in need of financial assistance for the completion of their training. Provided, however, that the said Counsel of Theological Education shall first favorably consider applications for financial assistance from Carlyle Cluney, the son of Rev. Claude M. Cluney, from Darl Arthur Hampson, the son of Rev. Arthur G. Hampson and from Steven Edward Downey, the son of Rev. William H. Downey and shall approve such applications and grant the maximum financial assistance available from the distributive share, to the foregoing named persons, or any of them, who shall file applications therefore. Such financial assistance for the above named three persons may consists of financial grants for attendance at any accredited college and/or seminary and shall not be limited to seminary training as preparation for parish ministry. (b) The said Counsel shall next consider applications from the sons of any Presbyterian ministers who shall have served, in any capacity, as minister of the Hope United Presbyterian Church in Winter Haven, Florida, whether associated minister, assistant minister or other ministerial capacity, and to the extent that funds are available for financial assistance from the distributive share, after the necessary financial assistance to the above named three persons, the Counsel shall grant financial aid to such ministers' sons for attendance at any accredited college and/or seminary and shall not be limited to seminary training as preparation for parish ministry. (c) After consideration of the foregoing applications, the Counsel shall next consider applications for financial assistance or shall otherwise determine those Presbyterian students worthy and in need of financial assistance for seminary instruction as preparation for parish ministry only, and shall exercise its discretion in furnishing assistance to such persons. (d) Any accredited college as authorized in (a) or (b) above, or any seminary, as otherwise authorized, which shall receive funds hereunder, shall use such funds in its discretion, for any and all purposes to enable the particular student recipient to continue his educational endeavors, and may include expenditures for the maintenance and support of married students and their wives and children, for tuition, books, laboratory fees, clothing, medical aid, food, lodging, and the like. All financial assistance provided in this Article XC4 shall be direct grants and shall not be repayable by the recipient.