Request from The Diocese of Nicaragua
Resolved, That upon receiving written request from The Rt. Rev. Harold Gustavo Dixon Reynales and the Standing Committee of the Episcopal Diocese of Nicaragua, the Executive Council authorizes the distribution of $115,668.06 from Trust Fund #874 for payment of clergy pension assessments to the Church Pension Fund, and be it further
Resolved, That $62,040.00 from Trust Fund #824 be authorized for distribution to the Diocese of Nicaragua to address immediate and special operating expenses.
In a letter received on February 12, 2020, Bishop Dixon presented a withdrawal request to cover past due and current pension assessments totaling $155,000. The Diocese funded the remaining $40,000 with its short-term investments.
874.00 Nicaragua, Diocese of, Endowment Fund for the Episcopate (1983)
This trust was established in accordance with the action taken by Executive Council for the release of undesignated Venture in Mission funds for Project #033, toward self-support of the Diocese of Nicaragua. Income to be remitted to the Diocese of Nicaragua.
Trust Fund 874 held $243,481 in accumulated appreciation at the end of 12/31/2019.
Also, Bishop Dixon requested $62,040 to cover the renovation of the diocesan bishop’s house ($35,000), the severance pay for two diocesan employees ($2,040), and the purchase of an automobile ($25,000) to enable the bishop to carry his ministry.
824.00 Nicaragua, Missionary Diocese of (1980)
Income for health and educational facilities, education and training of clergy, or for other diocesan purposes. [Note: This fund was previously described in the 1993 Trust Fund Record as custodial; however, it is in fact a trustee fund, as the primary donor, the Diocese of South Carolina, retained the option to remove the entire principal from the Society's custody, but only for the purpose of funding an identical trust, either in South Carolina or in Nicaragua.]
Trust Fund 824 held $1,895,905 in accumulated appreciation at the end of 12/31/2019.