The remarkable growth so many have experienced in the value of stock and other investments during this extended season of favorable market conditions has made the issue of locking in their capital gains a timely one. How can such gains be protected?

Life income plans available through the Seminary’s planned giving program offer an attractive alternative to those who are charitably motivated and wish to support our institution through gifts of appreciated property held longer than one year. Take the Charitable Gift Annuity, for example. Our friends and alumni/ae can make a gift that will provide fixed income for the lives of one or two beneficiaries and that is backed by the full faith and credit of the Seminary. Their annuity will be based on the fair market value of the assets contributed, and they will qualify for a charitable deduction in the year the gift is made, with carryover privileges for up to five additional years. Income payments will come to them monthly, quarterly, semiannually, or annually, according to their wishes, and entitle them to capital gains tax savings as well.

Listed below are representative rates for Charitable Gift Annuities covering one and two lives.

One Life Two Lives
Age  Rate  Ages  Rate  Age Rate  Ages  Rate
50  5.8%  75  8.2% 50/50 5.6% 75/75  7.3%
55  6.1% 80  9.2% 55/55 5.8% 80/80 8.0%
60  6.6% 85  10.5% 60/60  6.3% 85/85  9.0%
65  7.0%  90+ 12.0% 65/65 6.6%  90/90 10.6%
70  7.5%     70/70 6.8%    

 Other life income plans, including the Princeton Seminary Fund (our pooled income fund) and Charitable Remainder Trusts, offer similar but not identical benefits. Each arrangement has distinctive characteristics. All would lock in capital gains when funded with appreciated property held long term, however, and all require that donors and beneficiaries be 50 years of age or older. These life income arrangements can also be funded with gifts of cash, of course, according to the circumstances and preferences of the donor.

For more detailed information about each plan, please visit our website at www.ptsem.edu or call Chase Hunt at 800-622-6767, ext. 7756 or 609-497-7756.


Gifts

This list includes gifts made between July 21, 1999, and November 30, 1999.

In Memory of

The Reverend T. Howard Akland (’40B) to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

The Reverend James A. Allison, Jr. (’51B) to the Miller Chapel Restoration Project

Ms. Ruth Appenzeller to the Alumni/ae Roll Call

The Reverend Dr. Willis A. Baxter (’38B) to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

Dr. J. Christiaan Beker to the Annual Fund and the Miller Chapel Restoration Project

The Reverend E. Lansing Bennett (’25B) to the Miller Chapel Restoration Project

The Reverend William N. Boak (’57B) to the William N. Boak Scholarship Endowment Fund

Ms. Nell E. Breland to the Annual Fund

Mr. Philip Breland III to the Annual Fund

Ms. Viola Allen Brindisi to the Miller Chapel Restoration Project

The Reverend George Chalmers Browne (’40B) to the Alumni/ae Roll Call

The Reverend Robert H. Buche (’33M) to the Miller Chapel Restoration Project

The Reverend Alexander T. Coyle (’30B) to the Scholarship Fund

The Reverend Dr. David L. Crawford (’47B) to the Alumni/ae Roll Call and the David Livingstone Crawford Memorial Scholarship Endowment Fund

The Reverend Albert G. Dezso (’46B) to the Annual Fund

The Reverend George B. Edgar (’34B) to the Alumni/ae Roll Call

Mr. Robert Egerton to the Miller Chapel Restoration Project

The Reverend James L. Getaz Jr. (’49B) to the Annual Fund

Mrs. George Haar to the Annual Fund

Ms. Adele Hanson to the Miller Chapel Restoration Project

The Reverend Dr. Harry Walter Haring (1893B) to the Miller Chapel Restoration Project

The Reverend John Dickinson Harkness (’37BM) to the Scholarship Fund

Dr. Norman Victor Hope to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

The Reverend Gilbert J. Horn (’65B) to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

The Reverend Dr. Reuel E. Johnson (’48B) to the Annual Fund

Dr. Edward J. Jurji (’42B) to the Annual Fund

Ms. Winogene Foster Kaser to the Miller Chapel Restoration Project

The Reverend Roger E. Kellogg (’58B) to the Annual Fund and the Miller Chapel Restoration Project

The Reverend Dr. Lee V. Kliewer (’42B) to the Miller Chapel Restoration Project

Mr. Richard H. Lackey Jr. to the Richard H. Lackey Jr. Memorial Scholarship Endowment Fund

Dr. Charles Tudor Leber to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

The Reverend Joseph J. Lemen (’50B) to the Annual Fund

Mr. John S. Linen to the Miller Chapel Restoration Project

The Reverend H. Ganse Little (’29B) to the Miller Chapel Restoration Project

The Reverend Dr. Lefferts A. Loetscher (’28BM) to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

Dr. and Mrs. John A. Mackay to the Class of 1953 Scholarship Endowment Fund

The Reverend Dr. C. Frederick Mathias (’57B) to the C. Frederick and Cleta R. Mathias Memorial Prize

Mrs. Cleta R. Mathias to the C. Frederick and Cleta R. Mathias Memorial Prize

The Reverend Dr. J. Charles McKirachan (’33B) to the Miller Chapel Restoration Project

Mr. George V. N. Morin to the Miller Chapel Restoration Project

The Reverend Dr. Thomas S. Mutch to the Presbyterian Church in Morristown — Reverend Dr. Thomas S. Mutch Scholarship Endowment Fund

The Reverend Harlan H. Naylor (’42B) to the Miller Chapel Restoration Project

Mr. Douglas Nelson to the Miller Chapel Restoration Project

The Reverend Wesley Dayalan Niles (’66M) to the Annual Fund and the Miller Chapel Restoration Project

The Reverend W. Burney Overton (’42B) to the Annual Fund and the Miller Chapel Restoration Project

Mrs. Barbara Parke to the Miller Chapel Restoration Project

The Reverend Andrea Pfaff (’66E) to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

Mrs. Mae Jewel Polk to the Miller Chapel Restoration Project

The Reverend Dr. Clifford G. Pollock (’37B) to the Annual Fund

The Reverend W. Robert Raborn (’50B) to the Annual Fund

The Reverend Scott Turner Ritenour (’43B) to the Miller Chapel Restoration Project

Dr. Harold E. Scott (’66D) to the Annual Fund

Mr. Buford M. Sexton to the Miller Chapel Restoration Project

The Reverend David R. Snyder (’66B) to the Annual Fund and the Miller Chapel Restoration Project

The Reverend John H. P. Strome (’33B) to the Annual Fund

The Reverend Dr. Daniel C. Thomas (’44B) to the Dan C. Thomas Internship Endowment Fund

Dr. David A. Weadon to the Miller Chapel Restoration Project

In Honor of

The Reverend Dr. W. J. Beeners (’48B) to the Alumni/ae Roll Call

The Reverend William N. Boak (’57B) to the William N. Boak Scholarship Endowment Fund

Ms. Margaret Anne Chase to the Miller Chapel Restoration Project

Mrs. Debra Curran to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

The Reverend Dr. William R. Dupree (’46B) to the International Students Scholarship Endowment Fund

Dr. Freda Ann Gardner to the Annual Fund and the Miller Chapel Restoration Project

Mr. John R. Gross to the Alumni/ae Roll Call

The Reverend Nancy Lammers Gross (’81B/’92D) to the Alumni/ae Roll Call

The Reverend Dr. Steven J. Hamilton (’83B) to the Miller Chapel Restoration Project

The Reverend Dr. G. Robert Jacks (’59B) to the Alumni/ae Roll Call

The Reverend Mary E. Jensen (’97B) to the Scholarship Fund

The Reverend Roger E. Kellogg (’58B) to the Miller Chapel Restoration Project and the Annual Fund

The Reverend Margaret Grun Kibben (’86B) to the Annual Fund and the Miller Chapel Restoration Project

The Reverend Dr. Bryant M. Kirkland (’38B) to the Renovation of Speer Library

Ms. Terri Smith Lindvall to the Miller Chapel Restoration Project

Ms. Shannon M. Lowrance (Class of 2000) to the Miller Chapel Restoration Project

Dr. Donald Macleod (’46G) to the Miller Chapel Restoration Project

The Reverend Dr. Gerald S. Mills to the Reverend Dr. Gerald S. and Judith Mills Seminar

Mrs. Judith A. Mills to the Reverend Dr. Gerald S. and Judith Mills Seminar

The Reverend David R. Snyder (’66B) to the Miller Chapel Restoration Project and the Annual Fund

The Reverend George R. Taylor (’72B) to the Scholarship Fund

The Reverend Dr. Thomas K. Tewell (’73B) to the Bryant M. Kirkland Permanent Scholarship Endowment Fund

The Reverend Dr. David B. Watermulder (’45B/’48M) to the Annual Fund

Dr. Paul I. Willwerth to the Miller Chapel Restoration Project

The Reverend Dr. Richard L. Young (’89B) to the Miller Chapel Restoration Project

In Appreciation of

The Reverend Dr. W. J. Beeners (’48B) to the Alumni/ae Roll Call

The Reverend Jon A. Black (’72B) to the Miller Chapel Restoration Project

The Reverend Dr. Edward A. Dowey Jr. (’43B) to the Miller Chapel Restoration Project

First Presbyterian Church of Dayton, New Jersey, to the Miller Chapel Restoration Project

The Reverend Dr. and Mrs. Thomas W. Gillespie (’54B) to the Miller Chapel Restoration Project

The Reverends Kenneth J. (’84B) and Judith Hartung (’86B) Hockenberry to the Miller Chapel Restoration Project

Dr. Howard Tillman Kuist to the Alumni/ae Roll Call

Princeton Theological Seminary to the Krebs Student Emergency Fund

Princeton Theological Seminary Faculty and Staff to the Miller Chapel Restoration Project

Princeton Theological Seminary Touring Choir, in celebration of, to the Miller Chapel Restoration Project

Ms. Mary Pollitt Scott to the Alumni/ae Roll Call and the Miller Chapel Restoration Project

Dr. Choon-Leong Seow (’80B) to the Alumni/ae Roll Call

Sabbatical leave independent study, the Festival of Preaching, renewed acquaintance with classmates J.J.M. Roberts, Richard E. Whitaker, et al., and with students such as Charles B. (Chip) Hardwick (’99B), David R. Smith (’99M), Michael G. Hegeman (’96B), and the cordiality and talent they manifest to the Miller Chapel Restoration Project

 

In Appreciation of Miller Chapel to the Miller Chapel Restoration Project

“For everything the Seminary means in my life”
“For many wonderful memories serving as chapel deacon”
“For our chapel experience”
“For Princeton Theological Seminary Miller Chapel memories”

Michael Dong-Soo Chun Family Scholarship Endowment

A gift to Princeton Theological Seminary has established the Michael Dong-Soo Chun Family Scholarship Endowment Fund. Each year distributions from the fund will support one or more students preparing for pastoral ministry who have demonstrated financial need and academic promise. Preference will be given to second-generation Korean American students or students of Korean heritage. Mr. Michael D. Chun of Long Valley, New Jersey, initiated this scholarship endowment because of his desire to ensure quality pastoral leadership for Christ’s church for future generations.

Princeton Seminary has a long tradition of equipping Korean and Korean American students for ministries in the church. There are presently sixty-five Princeton Seminary alumni/ae serving in Korea in addition to many who serve Korean American and other churches in the United States.

For information about establishing a Scholarship Endowment Fund at Princeton Seminary, please contact Gene Degitz, vice president for seminary relations, or any member of the seminary relations staff at 1/800/622-6767 ext.7750.


Guidelines for Gift Endowments
at Princeton Theological Seminary

Preface:
The establishment of a permanent endowment is the unique privilege of a donor to provide perpetual funding for a valued purpose. These guidelines are intended to assist persons who are considering making a gift to establish an endowment at Princeton Theological Seminary. They have been adopted by the Seminary Relations Committee of the Board of Trustees to clarify and facilitate the process by which endowments can be initiated and established at the Seminary.

Endowment Defined:
An endowment is a gift whose funds are invested to provide continuing income, in perpetuity, for the general or specific purpose stated in the written endowment agreement between the donor and the Seminary. Donor-established endowments shall be used only for the purpose(s) specified in the endowment agreement, which must be accepted by the Seminary as well as the donor.

Endowment Income:
Income utilization of all endowment funds is determined by the Seminary Board of Trustees (normally in the range of 4-5% of the three-year rolling average of the market value of the funds). Endowment earnings in excess of the approved utilization are credited to the principal of the endowment. This enables the endowment to keep pace with inflation and thereby continue to fulfill the original intent of the donor.

Endowment Focus:
Endowment gifts may be unrestricted or they may be restricted for a particular purpose subject to the approval of the Seminary Board of Trustees. Unrestricted gifts enable the donor to support the total program of the Seminary in perpetuity. Such gifts provide institutional stability and flexibility. Restricted gifts enable the donor to provide funds for the stated purpose of the endowment in perpetuity. A donor may request that an unrestricted or restricted endowment be named or that it remain anonymous.

Procedure for “Named” Endowments:
Normally a “named” endowment (e.g., for a scholarship, a faculty chair, or another purpose) shall be established through a written and binding agreement assuring 100% funding of that endowment by the donor(s) within a specified period of time (usually within 3-4 fiscal years or less) and stating parameters of the fund that are agreeable to both the donor and the institution. Donors may also specify that available earned income be returned to principal rather than expended for a fixed number of years during which time the fund will grow.

How To Give:
Gifts for endowments can be funded with checks/cash, appreciated securities, and a variety of planned giving instruments that can be beneficial to the donor as well as to the Seminary. If the donor cannot give an initial gift at the minimum threshold level, the donor can consider making a multiyear pledge and/or can specify that accrued interest be applied entirely to the principal until the required sum is reached. These general guidelines were approved by the Board of Trustees on May 18, 1999, and will be reviewed periodically thereafter. Any exceptions to these guidelines require the approval of the president and the vice president for seminary relations in consultation with the Board of Trustees Seminary Relations Committee.


Givers and Builders Keep Chapel Project Moving Ahead

The Miller Chapel Restoration Project, begun in June 1999, is moving toward completion as scheduled in September 2000, according to John W. Gilmore, vice president for business affairs. A special dedication service will take place in the fall of 2000. Built in 1833, Miller Chapel is the second oldest building on the Seminary campus. The last major renovation of the chapel occurred in 1933 when it was moved to its present location on the quadrangle. The current $6 million-plus project will renew Miller Chapel and add a handsome companion building, separate from but adjacent to the chapel. The new facility will house offices for the campus pastor, the director of music, a counselor, and support staff and will provide a rehearsal room for the Seminary choirs that will also serve as a classroom, recital hall, and reception area.

President Thomas W. Gillespie expresses thanks on behalf of the Seminary for generous gifts and commitments from trustees, friends, foundations, alumni/ae, churches, and faculty and staff for the Miller Chapel project. Among gifts and commitments received as of December 31, 1999, are those from Seminary friends ( $1,145,77), Seminary trustees ($1,069,623), PTS alumni/ae ($339,463), PTS faculty and administrators ($152,449), churches ($107,700), and from The Arthur Vining Davis Foundations ($150,000). In addition, several bequests from alumni/ae and friends are designated for the Miller Chapel project.

In order to meet the project budget and to receive a $500,000 challenge grant from the Kresge Foundation, the Seminary must raise approximately $900,000 in additional gifts and commitments by May 1, 2000. Alumni/ae, friends, churches, and others who understand the importance of Miller Chapel in the Seminary community’s life are invited to support the restoration project. Commitments to the Miller Chapel Restoration Project are payable from now through January 31, 2002. For more information, please contact Gene Degitz, vice president for seminary relations, Chase Hunt, director of planned giving, or Richard Gronhovd, director of church relations and alumni/ae giving at 1/800/622-6767 ext. 7750 or ext. 7756 or by email at seminary.relations@ptsem.edu.


Funding Requirements for Restricted/Named Endowments

Purpose 

Endowment Requirement

Faculty Endowments

Faculty Chair
Visiting Professor 

 

$2,000,000
$1,000,000

Scholarship Endowments

Foreign National Student Scholarship (Tuition, Room, Board, Books, Travel)

Full Scholarship 
(Tuition, Room, Board, Books)

Full-tuition Scholarship

One-half-tuition Scholarship

One-third-tuition Scholarship 

Partial Scholarship Grant
(effective 1/1/2000) 

 

 

$275,000


$250,000

$150,000

 $75,000

$50,000


$10,000

Continuing Education Seminar (Depending on seminar length and leadership)  

$75,000-$150,000

Commencement Prize  $10,000 minimum
Program Endowments

Asian American Program 
Institute for Youth Ministry 
Institute of Theology 
Other Special Programs 

 

$10,000 minimum
subject to consultation with Seminary Relations staff

Library Endowments

Book Acquisitions (by academic discipline) 
Library Facilities 
Library Services 
Periodical Acquisitions

 

$10,000 minimum, subject to consultation with Seminary Relations staff

 

Other Endowments may be established at a minimum of $10,000 subject to consultation with Seminary Relations staff. Examples include establishing endowments for Alumni/ae Services, Computer Services, Buildings/Grounds, Child Care Center, Communications, Development, Media Services, etc.

Gifts of any size for Unrestricted Endowment purposes are welcomed.

For further information, please contact:
Office of Seminary Relations
Princeton Theological Seminary
P.O. Box 821
Princeton, NJ 08542-0830
Phone: 609-497-7750/7756 or
800-662-6767 ext. 7750/7756
Fax: 609-924-2973
Email: seminary.relations@ptsem.edu


Copyright 2000 Princeton Theological Seminary
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