Request from The Episcopal Church in Liberia: Trust Fund 853
Resolved, That upon receiving written request from the Rt. Rev. Jonathan B. Hart and the Standing Committee of the Episcopal Church of Liberia (ECL), the Executive Council authorizes that $300,000 from Trust Fund 853 be distributed to ECL.
In a letter received August 21, 2019, Bishop Hart explained that ECL is unable to meet payroll in the next two months due to deteriorating economic conditions in the country, which has resulted in delinquent payments from tenants.
As a last resort. ECL wishes to make a special draw of $300,000.00 to get through the end of the year. The funds will also enable ECL to proceed with bringing on production of palm and other agricultural products.
Trust Funds of Class 179 were established as an endowment fund for The Episcopal
Church of Liberia in 1982. At 6/30/19 TF853 had undistributed appreciation of $639,000.