Irondequoit Presbyterian Church

Ronald C. Moffatt Fund

Beneficiary location:

Rochester, NY

Account number: 102240000077

Designated Use

The Presbyterian Church (U.S.A.) Foundation (hereinafter the "Foundation") shall permanently hold, invest and reinvest this gift in its sole and absolute discretion to create the Ronald C Moffatt Fund (hereinafter the "Fund"). The Foundation shall reinvest the income attributable to the Fund, including all amounts calculated pursuant to any distribution policies authorized by applicable state law for such charitable funds, as determined by the Board of Trustees of the Foundation, from time to time, net of applicable fees and expenses (hereinafter the "Net Income"), into principal until such time the Foundation receives notification of the date of the death of the Donor, Mr. Ronald C. Moffatt, so that such reinvested Net Income becomes principal. Beginning after the expiration of the next quarter following the notification of the passing of the Donor, the Foundation shall pay the Net Income attributable to the Fund, after the expiration of each calendar quarter (or at any other regular time interval as established by the Board of Trustees of the Foundation from time to time), to Irondequoit Presbyterian Church, 2881 Culver Rd, Rochester, NY 14622-2827 (hereinafter the "Initial Charitable Beneficiary"), for a period of five (5) years, to be used in the sole discretion of its Session.