14 Do not neglect the gift that is in you, which was given to you by prophecy with the laying on of the hands of the eldership.
15 Meditate on these things; give yourself entirely to them, that your progress may be evident to all.
16 Take heed to yourself and to the doctrine. Continue in them, for in doing this you will save both yourself and those who hear you.
do not neglect (v.14) = tense indicates “do not keep on neglecting” — don’t be careless, don’t make light
gift (v.14) = charisma = gift of grace enabling Timothy to serve the Church
by prophecy (v.14) — revelation, probably to Paul, of Timothy’s ministry
“Gift” is from charisma, in the technical Pauline sense of extraordinary powers distinguishing certain Christians and enabling them to serve the church of Christ, the reception of which is due to the power of divine grace operating in their souls by the Holy Spirit. The word refers here to a special inward endowment which qualified Timothy for exhortation and teaching, and which was directly imparted by the Holy Spirit. This special endowment was given Timothy “by prophecy.” That is, prophetic intimations were given to Paul as to the selection of Timothy for the ministerial office. These prophecies were given by the Holy Spirit who also bestowed the gift. These prophetic intimations were repeated in connection with the ceremony of ordination at which time the hands of the Church elders were laid upon Timothy. The laying on of hands speaks of identification. Here it was the outward act and ceremony symbolizing the fact that Timothy was now to be identified with the elders in the common work of the ministry of the word. He became one of them and one with them. The word “presbytery” [eldership] is from presbuteros, “an older person, one advanced in years,” used in Luke 22:66 of the body of representative elders of the people in the Sanhedrin. Here it is used of the elders of the local assemblies, those church officials charged with the responsibility of supervising the spiritual welfare of the local assembly. — Wuest, pages 74-75
The gifting that was given to Timothy, and the prophecy that accompanied it, were aspects of the prophetic age before the canon of Scripture was complete. They were consistent with the period of Paul’s ministry and lasted until John was given the final revelation. This sort of gifting, and all prophecy, has ceased until the end of the age of Grace (1 Corinthians 13:8-10).
mediate (v.15) = attend carefully, be diligent, care for, practice
give yourself (v.15) = lit. “be constantly in these things”
progress (v.15) = blaze the way, advance — the Greek word is always used in a positive sense
take heed (v.16) = hold upon, fasten attention on
continue (v.16) = stay by the side of, stick to them, see them through
save (v.16) — The salvation referred to here is understood by a study of the context, namely, being saved from the teachings of demon-influenced men. That is, by the reading of the Word, by exhortation from it, and by a clear explanation of its meaning, Timothy and his hearers will be saved from becoming entangled in these heresies. — Wuest, page 76