Springfield Presbyterian Church

Ruth Gosnell Education Fund

Beneficiary location:

Sykesville, MD

Account number: 102240000834

Designated Use

The Session of the Springfield United Presbyterian Church of Sykesville, Maryland shall have the authority to decide which investment funds of the foundation shall have the authority to decide which investment funds of the fund, from among those funds the foundation makes available to memorial or education funds. Such changes may be made by a resolution from the Session and shall be acted on by the Foundation within the guidelines and procedures established by the Foundation for the transfers of funds from one fund to another that are in effect at the time a transfer is requested. The Springfield United Presbyterian Church of Sykesville, Maryland shall use the said income from the fund hereby established to provide interest-free loans to deserving full-time students who are pursuing a degree in higher education.The Students to be assisted by the said fund shall be from the Springfield United Presbyterian Church of Sykesville, Maryland, the community of Sykesville, Maryland, the Presbyterian of Baltimore and Synod of the Piedmont, in that order of priority, with the understanding that the Education Fund Committee may extend the area from which students my be chosen so long as the general intent of the Fund is followed.The Session of the Springfield United Presbyterian Church of Sykesville, Maryland, shall have ultimate responsibility and control of the income from the Ruth Gosnell Education Fund (hereinafter sometimes referred to as the Fund) and shall set policies for the administration of the fund in accordance with the agreement entered into between the Session of the said church and the Donor, Ruth A. Gosnell, on the 10th Day of June 1982.***SEE AGREEMENT 19820601 PAGE 2 - FOR ADDITIONAL RESTRICTIONS FOR THIS FUND.****