Seminary Receives Funding for Endowment from Prock Family
Golden Gate Seminary has received a gift of more than $900,000 to complete the funding of The Ruth and Glenelle Prock Presidential Endowment. The endowment, established in 2001, was created by the Glen Prock family of Albany, California, to enable the Seminary president to support and enhance the mission and purpose of the institution.
“The Procks understood their responsibility as stewards of that which God had blessed them,” noted Seminary President, Jeff Iorg. “Not only did they enhance their ability to minister in their retirement, their ministry will continue for eternity through this endowment.”
Ruth Prock, a Golden Gate alumna, was a retired missionary to the deaf through the Home Mission Board of the Southern Baptist Convention. Her daughter, Glenelle, was retired from the Bank of America Corporation. In their retirement, both were active ministering to the deaf community in California and through their local church. Ruth passed away on July 28, 2001 and Glenelle on October 27, 2009.
“I personally was blessed by the relationship we enjoyed with Ruth and Glenelle,” said former Seminary President, William O. Crews. “The ministry provided by the Procks as missionaries is the kind of legacy of which the Seminary can be proud. We can all rejoice that the Prock family is once again together in the presence of the Lord they so faithfully served.”
The gift to the Seminary was given through a charitable remainder trust established in 1993. The Procks gave the Seminary cash and appreciated property which was sold and placed in a trust for investment. The trust then paid Ruth and Glenelle payments to supplement their retirement until their deaths. As directed by the trust, earnings from the corpus will now be used to fund the endowment.
“We are grateful that the Procks had the forethought and commitment to create a charitable remainder trust. Not only did they provide for themselves, but now their planning has provided a legacy gift that will help propel Southern Baptists’ efforts in shaping Kingdom leaders at Golden Gate Seminary,” said Dr. Tom Jones, Vice President for Institutional Advancement.