Change Language of Trust Fund 691
Resolution text
Resolved, That the language of Trust Fund # 691, Gift of Church of Our Savior, North Platte, NE (1957), A Special Fund, be changed as follows:
This fund was established with a gift of $1,700.00 from Church School of the Church of Our Savior (COOS) in North Platte, NE in 1957 for work in former Diocese of Hankow, China. In 2019, the donor changed the designation to “Income for missionary and outreach work in areas where Episcopal Church of Our Savior, the Diocese of Nebraska, and The Episcopal Church are actively engaged in ministry, as from time-to-time recommended by Episcopal Church of Our Savior and as approved by the Treasurer of the DFMS."
Explanation
Trust Fund # 691 Gift of Church of Our Savior, North Platte, NE (1957), A Special Fund
Created by a gift to the Domestic and Foreign Missionary Society from Episcopal Church of Our Savior, North Platte, Nebraska, in 1957, with the restriction that 1) the Fund be “designated for work in [the] former Diocese of Hankow, China” and 2) that “income [is] to be added to principal until work in China resumes, this trust fund has never been put to use.
Episcopal Church of Our Savior recognized that the Fund is an “institutional fund” of the Domestic and Foreign Missionary Society as defined by Section 555 of the New York Nonprofit Code (NYNPC”); Episcopal Church of Our Savior is the “donor” as defined by said code and has the authority pursuant to the NYNPC to modify the restrictions applicable to the Fund. Episcopal Church of Our Savior has sent a formal request to modify the first restriction of the Fund given how unlikely it is that DFMS will be able to use the funds as originally stated.
Accumulated appreciation and annual dividends to be available for missionary and outreach work in areas supported collectively by Episcopal Church of Our Savior, the Diocese of Nebraska, and the Episcopal Church, as from time-to-time recommended by Episcopal Church of Our Savior and as approved by the Treasurer of the DFMS.
DFMS has agreed to the modification.