Trust Fund #809 – Theological Education for Latin America and the Caribbean (1977)
Resolution text
Resolved, That the Canons to the Presiding Bishop for Ministry Within the Episcopal Church and for Ministry Beyond The Episcopal Church be authorized to use income distributed during 2022 from Trust Fund No.809, up to $417,669.77, for educational and theological programs (including continuing education and individual scholarships), as recommended by the Commission on Theological Education for Latin America and the Caribbean (CETALC) gathered by Zoom during August 26 and 27, 2021, and be it further
Resolved, That disbursement of funds will be conditioned upon the receipt of appropriate documentation to secure financial and operational accountability acceptable to the Canons and the Treasurer; and be it further
Resolved, That any funds not spent during 2022 be reinvested.
Explanation
The Commission on Theological Education for Latin America and the Caribbean is charged with the responsibility of reviewing all requests for funding from the income of Trust Fund #809 (fund established with the proceeds from the sale of the Seminary property in Puerto Rico). The Commission carefully reviews and respectfully submits their recommendations to the Executive Council for affirmation once each year. The resolution will make available up to $417,669.77 from the estimated dividends for 2021, subject to receipt of proper documentation and reports for any prior awards.