To endow permanently a full professor’s salary in the Biology Department of Silliman University, Dumaguete, Philippines.

the income from the Fund be used for the maintenance, upkeep and furnishing of those buildings housing the collections belonging to the Historical Foundation of the Presbyterian and Reformed Churches, Incorporated.

The Board further agrees that it will declare interest at the rate of four and one-half (4 1/2%) percent per annum on the said Special Endowment Fund, crediting the same interest, Two Hundred and Twenty-Five ($225) Dollars each year in its Donation Account to the First Presbyterian Church of Wellsville, Ohio, and report yearly to the session of the First Presbyterian Church of Wellsville, Ohio, how the money has been expended. [cy pres Oct 2009 changes bene from BFM to PCUSA, A-Corp.]

to the Board of Christian Education of the United Presbyterian Church in the U.S.A. for a period of 50 (fifty) years [3/31/2037]. Thereafter, the principal of this gift shall be the absolute property of the Foundation and this gift shall be used for such purposes of the United Presbyterian Church in the U.S.A. as the General Assembly shall direct in furtherance of the Christian program of the Church.

The Foundation shall reinvest all income into principal, so that such income becomes principal. The Foundation shall calculate annually the change in the market value of the Fund for the current year by computing the difference between the fair market value of the Fund on December 31 of the current year and the fair market value of the Fund on December 31 of the immediately preceding year (hereinafter the Change in Market Value). For every year subsequent to the initial year in which the Fund is established, the calculation of the Change in Market Value of the Fund shall reflect changes in market value as well as any distributions made in accordance with the provisions set forth hereinbelow. The Foundation shall pay annually seventy percent (70%) of the Change in Market Value of the Fund, payment to be made on or after January 1 of each year, to the Presbyterian Church (U.S.A.), 100 Witherspoon Street, Louisville, Kentucky 40202-1396 (hereinafter the Beneficiary), to be used by the Presbyterian Hunger Program for hunger programs in Central America and South America.