Anonymous Donor Pays Off Mortgage for the Summit Counseling Center
The donation was part of a larger $1.12 Million anonymous gift made to the Mount Pisgah Foundation. The Mount Pisgah Foundation was established by the host United Methodist Church and created foundation accounts for The Summit Counseling Center and 3 other non-profits affiliated with the Church. The gift was divided among all the non-profit entities based on their specific needs and a formula specified by the donor.
The Summit Counseling Center’s Executive Director, Rev. David M. Smith, was excited to share the news with his Board. “We are deeply grateful for such a tangible affirmation of our ministry and of our effectiveness in helping the people of North Atlanta. This is the kind of gift that insures that we have the necessary stability to meet the needs of our community for many years to come!”
The gift was provided with the stipulation that The Summit’s Board of Directors establish a meaningful operating reserve fund to protect both The Summit and Mount Pisgah from shortfalls and fluctuations in operating funds. The Summit Board unanimously passed a new policy to this effect in May 2011.
The Mount Pisgah Foundation has also established an account with the National Christian Foundation. This relationship allows the Mount Pisgah Foundation and The Summit to receive not only cash gifts, but the contribution of non-cash gifts as well. Gifts can be in the form of most any type of asset including real estate, business interests, loan notes, restricted securities, estate gifts, retirement plans, life insurance, and personal property.
David Smith noted that The Summit is an excellent example of a counseling center that has a meaningful partnership in ministry with a local congregation while maintaining a mission and the resources to serve the larger community.