Request from The Episcopal Diocese of Haiti
Resolution text
Resolved, That the Executive Council authorizes that $145,000 from Trust Fund 407 be distributed to provide payment of past due pension contributions for the Diocese of Haiti.
Explanation
Trust Fund 407 may be used for emergencies at the request of the bishop of Haiti. At July 31, 2019, the market value was $1.2 million, including undistributed appreciation of T$805K.
This request comes from the Standing Committee of the Diocese of Haiti. The total payment due as of the August invoice (minus a CPF waiver established after the 2010 earthquake) is $142,956.42 ($174,956.42 total). The $32,000 waiver will be triggered once 2017 assessments are paid in full.
The Standing Committee has committed to budget and make ongoing monthly assessment payment of approximately $6,000.