Trust Fund #1214
Resolution text
Resolved, That Trust Fund # 1214, Capital Maintenance Reserve Fund be established as an investment account for All Saints Episcopal Church in Concord, NC, which may withdraw principal and/or income upon request and may add to the principal at its discretion.
Explanation
Trust Fund # 1214 Capital Maintenance Reserve Fund (2019)
This fund was established with $200,000.00 as an investment account by All Saints Episcopal Church in Concord, NC. This is a custodial-type fund, meaning that DFMS is not trustee for these funds but as custodian is providing the owner (All Saints Episcopal Church in Concord, NC) with access to investment management through DFMS endowment. The owner may add to or withdraw principal funds at its discretion.