Tainan Theological College and Seminary

PC (USA) Foundation restricted for Tainan Theological College & Seminary

Beneficiary location:

Tainan City 70142,

Account number: 102240000034

Designated Use

1. Any income that is paid to the Tainan Seminary may be used for its general mission purposes, as designated by its governing body. 2. Upon request from the Tainan Seminary, as communicated by two persons – 1) One of the two following persons from the Seminary Administration (either Seminary President or Director of General Affairs), and 2) one of the two following persons from the Seminary Board (either Chairperson or Accounting Officer), the Presbyterian Foundation may elect from time to time to pay out any or all of the assets of the Fund to the Tainan Seminary for any of the following purposes or any other purposes deemed similar by the Presbyterian Foundation in its sole and absolute discretion: • For bolstering the operating budget of the seminary when it reflects a deficit. • For increasing the required reserve levels of the seminary if such levels are modified by any regulatory agency. • For special programs of the seminary requiring additional funding outside the budget. • For maintaining solvency of the seminary. 3. Upon request from the Tainan Seminary, as communicated by two persons – 1) One of the two following persons from the Seminary Administration (either Seminary President or Director of General Affairs), and 2) one of the two following persons from the Seminary Board (either Chairperson or Accounting Officer), the Presbyterian Foundation may elect to pay out up to twenty percent (20%) of the assets of the Fund to the Tainan Seminary for its general mission purposes, as determined in the sole and absolute discretion of the Presbyterian Foundation. 4. Distributions from this Fund, having met either condition #2 or #3 above, shall be restricted to no less than US$5,000 per distribution, subject to the maintaining minimum asset value as set by the Board of Trustees of the Presbyterian Foundation. Contingent Beneficiary: Presbyterian Church in Taiwan Mission Foundation Fund Restrictions: To benefit the Presbyterian Church in Taiwan – in the areas of theological training, Christian education, religious studies, church music or Christian social work (subject to restrictions in Fund ID 1022612021112).