A Brief History of Presbyterian Elders in Prayer
It got started in 1982. A presentation made that year describes what happened:

Experiencing deep sadness about the constant loss of membership in our denomination, a small group of elders got together in Kansas City and began to pray, based upon James 5:13-15. They agreed to lay their praying hands upon the church consistently, and anoint her with the oil of their dedicated love. They agreed to pray regularly for the renewal and growth of the church with one accord of mind, heart, and spirit. When they got together for their second monthly prayer meeting, on January 27, 1982, the idea was clear to everyone: they were moved by the Spirit to organize a prayer movement called Presbyterian Elders in Prayer (PEP). Their one and only purpose and goal: to encourage, enable, and excite all our elders to pray with one accord for the growth of our church. When elders take leadership in growing their prayer lives, they inspire the whole church to go to the Lord in prayer for anything and everything. Thus, PEP got started in Kansas City in 1982.

The by-laws of PEP, as written in 1982 and revised in 1992, make a clear and simple statement of PEP's purpose. Section 1 reads: The purpose of this Corporation is to enable all the elders of the Presbyterian Churches across the United States of America to pray with one accord at least five minutes daily for the whole church.

PEP is an active participant in the Presbyterian Renewal Network. Under its by-laws, PEP is not a ministry that takes specific "political" positions within the church. We encourage deep, daily prayer for elders of the church. If our elders unite in prayer for more of Jesus' love, more obedience to God's Word, and more of the Holy Spirit's power at work within the church, needed changes and revival will come... not on our own power, but on His.