Hastings College

Allen B. & Margaret (Granstrom) Birchler and H.E. & Maude Rininger Scholarship Fund

Beneficiary location:

Hastings, NE

Account number: 102240005118

Designated Use

Beginning in the year 1989 Hastings College will have the right to make a yearly withdrawal based on the following criteria as long as the market value of the fund remains less than $50,000.01. For purposes of valuation, the market value of the previous year-end will be used. When the market value of the fund is under $25,000.00; Hasting College shall have the privilege of withdrawing the sum of $500.00 once a year. When the market value of the fund is more than $25,000.00 but under $38,000.00; Hastings College shall have the privilege of withdrawing the sum of $750.00 once a year. When the market value of the fund is more than $38,000.00 but under $50,000.00; Hastings College shall have the privilege of withdrawing the sum of $1,000.00 once a year. When the market value of the fund is more than $50,000.01, the net income therefrom shall be paid to Hastings College, in quarterly payments. Such withdrawal shall be made according to the rules for such withdrawals then in effect at the Foundation. Such written requests for withdrawal shall be in the hands of the Foundation at least five days prior to the fund valuation date on which the withdrawal is expected. Income on the investment of the withdrawn principal shall cease upon the valuation date on which withdrawal is made. Hastings College shall use the said principal or income from the fund hereby established for scholarship assistance for a student whose intention is to enter the Presbyterian Seminary following graduation for the purpose of preparing for a church related vocation.