Trust Fund 1306 - The Saint Michael’s Fund (2022)
Resolution text
Resolved, that Trust Fund # 1306, The Saint Michael’s Fund, be established as an investment account for St. Michael’s Episcopal Church in Arlington, VA, which may withdraw principal and/or income upon request and may add to the principal at its discretion.
Explanation
Trust Fund # 1306, The Saint Michael’s Fund (2022)
This fund was established with $25,000.00 as an investment account by St. Michael’s Episcopal Church in Arlington, VA. This is a custodial-type fund, meaning that DFMS is not trustee for these funds but as custodian is providing the owner (St. Michael’s Episcopal Church in Arlington, VA) with access to investment management through DFMS endowment. The owner may add to or withdraw principal funds at its discretion.