The First Fund - What and Why?
The First Fund has been established by the Session as an unrestricted sub-fund of the FPC Endowment Fund. All planned giving commitments will be solicited on behalf of the The First Fund. The First Fund is intended to have a perpetual life with distributions of principal and interest as authorized by the FPC Endowment Board of Directors to or for the benefit of First Presbyterian. The long-term goal is to grow the endowment funds such that annual distributions are sufficient to fund yearly building and grounds expenses. The Planned Giving Leadership Team concluded it would benefit the planned giving initiative to establish a separate Endowment sub-fund for receipt of all planned giving gifts.
First Presbyterian, Richmond is the largest church in the Presbytery of the James and one of the largest and oldest PC(USA) churches in the Commonwealth of Virginia. Despite our size and history, our financial resources lag far behind many of our peer churches. We are proud of our ability to be wise and strategic with our current resources. However, we also know that we have the potential to do so much more in the name of Christ, and we want to ensure continued vitality and leadership of this flagship church through unrestricted planned giving and a substantially healthier endowment fund.