A tale of two gifts: PC(USA) deciding on allocations
People aren't exactly holding their breath, waiting for Denver businessman Stanley Anderson to come up with the $150 million he promised in June to give to the Presbyterian Church (U.S.A.).
But the denomination is close to realizing more than $9 million in unrestricted funding -- the result of a bequest made by a Colorado family more than 40 years ago, which has been held in trust since then and is just now becoming available.
Basically, church officials have heard little since Anderson stood up before the General Assembly in Birmingham and promised a massive unrestricted gift -- the day before the news broke that Anderson had financial difficulties.
He said then he'd give the money by November 2006, but so far nothing has materialized. "He's given several different dates," said Joey Bailey, the PC(USA)'s chief financial officer. "If it comes in by the end of the year, we're going to be really happy."