For educational loans and scholarships for theological students, with preference given to students of Pittsburgh Seminary. This Fund shall terminate on December 29, 2039 and all accumulated income and principal, including the right to all loan repayments from students, shall be paid to the Presbyery of Southeastern Illinois for general church puposes. Any loan repayments received after that date shall be sent to said Presbytery.

To be used for the Board of National Missions general work with preference being for either direct, special evangelical efforts or for supplementing such efforts by the various churches of the Presbyteries, preferably in Portland, Oregon.

To the Global Mission Ministry Unit, or its successors, of the GENERAL ASSEMBLY of the PRESBYTERIAN CHURCH (U.S.A.).

to constitute a general endowment fund, the income from which shall be used as the proper Foundation authorities deem best in the preparation of candidates for the work of the Gospel ministries.

Excerpt of the procedures for the Reverend Arthur T. Taylor Memorial Educational Fund (“Fund”) upon receipt of the no objection to the proposed changes letter by the Office of the Indiana Attorney General dated June 29, 2022: 1. It will be the privilege of the congregations, or of individuals, of the Marston, Marks Creek, Rourk and McLean Presbyterian Churches to make contributions in any amounts to be added to the principal of this Fund. NOTE: As of November 1, 2016, Marks Creek Presbyterian Church remains the sole “Priority Church” under the agreement. Marston Presbyterian Church dissolved effective October 31, 2016. Rourk Presbyterian Church and McLean Presbyterian Church are no longer affiliated with the PCUSA as of 7/21/2012 as they were dismissed to the Evangelical Presbyterian Church. 2. The Fund shall be known as THE REVEREND ARTHUR T. TAYLOR MEMORIAL EDUCATIONAL FUND. 3. Upon receipt of the Office of Indiana Attorney General letter as of June 29, 2022, any reference to the information as outlined in paragraphs 3 and 4 of the letter dated April 7, 1966 are deleted in their entirety and the gift instrument is modified as follows: Reassignment of duty to seek scholarship nominations: The Foundation has modified the restrictions on the Fund by reassigning the duty to seek nominations, make awards, and generally manage the Reverend Arthur T. Taylor scholarship program to the Presbyterian Mission Agency (“PMA”) and its agents, successors, and/or assigns. The Foundation further modified the restrictions on the Fund to permit it to make the spendable funds available to PMA (and its agents, successors, and/or assigns) to manage the scholarship program established in honor of Reverend Arthur T. Taylor. Clarification of the pool of potential scholarship applicants: The Foundation has modified the restrictions on the Fund by expanding the preference to all students pursuing postsecondary education within the Presbytery of Charlotte geographic area in the event there are no viable candidates from Marks Creek Presbyterian Church as the sole remaining Priority Church. In other words, the Foundation clarified the restriction to provide that, while viable candidates from Marks Creek Presbyterian Church would still be given first preference, preference also will be given to students in the Presbytery of Charlotte when there are no viable candidates from Marks Creek Presbyterian Church. Unused income available for future scholarship awards if no qualified candidate selected by the PMA, or its successors: Beginning on June 29, 2022 (the date of IN AG’s approval letter), the Foundation modified the restrictions on the Fund to permit any unused income to be accumulated as spendable funds (rather than added to principal) so that such funds may be disbursed in subsequent years to provide a more consequential and helpful award to students.