Funded through an initial donation of 100,000 deutsche marks from the Germany-based Association of Protestant Churches and Missions, an endowment was established in early 2000 to benefit the Evangelical Seminary of Theology in Matanzas. Through the efforts of Dr. V. Bruce Rigdon and others at Grosse Pointe Memorial Church in Grosse Pointe Farms, Michigan, the funds (originally valued at $51,078 US) were invested under a license granted by the U.S. Treasury Department under strict guidelines of existing U.S.-Cuba financial restrictions. Germany-based Association of Protestant Churches and Missions donated 100,000 DM in early 2000. Governed by stringent endowment fund principles, only the net interest generated from the investments will be available to benefit the Seminary. Depressed global economic conditions since the fund was established have thus far prevented positive earnings or disbursements from the fund.
For further information about the endowment fund – or to make contributions – contact:
George Stultz, Church Administrator Grosse Pointe Memorial Church 16 Lake Shore Drive Grosse Pointe Farms, Michigan 48236 313-882-5330 ext. 26e-mail: gstultz@gpmchurch.com
