New Custodial Trust Fund
Resolution text
Resolved, That the following New Custodial Trust Funds be established as investment accounts for the identified owners
TF No. | New Custodial Trust Funds | Owners | Investments |
1183 | Vickery Endowment Fund | St. Michael’s Episcopal Church of Austin, TX | $ 54,009.00 |
1184 | St. Andrew’s Outreach Fund | St. Andrew’s Episcopal Church of Newcastle, ME | $ 30,000.00 |
1185 | St. Mark’s Episcopal Church Endowment – Major Maintenance Fund | St. Mark’s Episcopal Church of Palo Alto, CA. | $ 525,088.62 |
1186 | St. Mark’s Episcopal Church Endowment – Organ Fund | St. Mark’s Episcopal Church of Palo Alto, CA | $ 25,817.29 |
1187 | St. Mark’s Episcopal Church Endowment – All Souls Garden, | St. Mark’s Episcopal Church of Palo Alto, CA | $ 203,382.86 |
1188 | All Souls Episcopal Church Endowment Fund | All Souls Episcopal Church in Ft. Myers, Fl | $ 15,100.00 |
1189 | WMO – St. Mary’s Episcopal Church, Dodson Fund | St. Mary’s Episcopal Church in Kansas City, MO | $ 200,000.00 |
1190 | WMO - Episcopal Diocese of Lexington Eastern Kentucky Fund | Episcopal Diocese of Lexington, KY | $ 304,000.00 |
1191 | WMO - Episcopal Diocese of Lexington Lancaster Fund | Episcopal Diocese of Lexington, KY | $ 208,948.91 |
1192 | St. John’s Essex NY Financial Reserve Account | St. John’s Episcopal Church in Essex,, NY | $ 345,623.43 |
1193 | St. John’s Episcopal Church Velma Marie Wood Youth Fund | St. John’s Episcopal Church, of Fallbrook, CA | $ 5,000.00 |
Total New Custodial Trusts | $ 1,916,970.11 |
who may withdraw principal and/or income upon request, and may add to the principal at their discretion.
Explanation
Each custodial trust fund is established with the sum indicated as an investment account for a church or parish. These are custodial-type funds, meaning that DFMS is not trustee for these funds but, as custodian, is providing the owners with access to investment management through DFMS endowment. The owners may add to or withdraw principal funds at their discretion.