First Presbyterian Church

Barnum Memorial Fund-33923

Beneficiary location:

San Diego, CA

Account number: 102240001042

Designated Use

net income shall pay quarterly and up to 10% of the original market value of the principal of this fund is to be made available to the First Presbyterian Church during each twelve-month period by making a written request at least ten days prior to the Foundations valuation date on which they wish the funds withdrawn. Such request for withdrawal should be made in writing by the Clerk of Session and will state that said Session has complied with the terms of the Agreement. A second annual principal withdrawal request of up to 10% may be made only in case of an emergency as determined by a vote of the Session of said church. In any such vote, the Moderator's vote shall count the same as the Ruling Elder. The income or principal of this fund as received by the church shall be used only at the direction of and be authorized by a vote of the Session of each church for local church projects. The church has the option in any twelve-month period to make no withdrawals of principal. In such an event, the principal will remain invested with the Foundation.