For scholarship assistance to graduating African-American High school seniors, without regard to their denominational affiliation, from Louisville, Kentucky, in accordance with the purposes and terms outlined below. It is the donor’s intention that each Mary E. Ford Scholarship recipient should receive an award in the amount of $500.00. Five years following the establishment of this fund [October 30, 2003] and on each fifth anniversary thereafter, beneficiary may, at its discretion, increase the amount of each award in increments of $100.00 to address the rising cost of education over time. Beneficiary may allow income from this fund to accumulate in an account administered by the Presbyterian Foundation or its subsidiaries. The accumulation of earnings is intended to permit the beneficiary to determine the timing and amount of distributions for award each year. Draws from accumulated earnings should be in amounts that provide for the maximum number of annual scholarship awards beneficiary can make based upon the award amount of $500 (as adjusted upward over time as permitted above).

reinvest until the principal reaches and exceeds 10,000.00 and at that time pay to the General Assembly of the Presbyterian Church (U.S.A.) the net income therefrom quarterly. The General Assembly shall use the said income from the fund hereby established for the Racial Ethnic Ministry Unit or its successors.

Income shall be paid to the Global Mission Ministry Unit of the Presbyterian Church (U.S.A.), or its successor, to be used for its general use and purposes.

For the national and overseas mission work of The United Presbyterian Church in the U.S.A. in the area of greatest need.