Fairfield Presbyterian Church

Thomas and Pauline Bedwell Memorial Fund

Beneficiary location:

Fairfield, CA

Account number: 102240006069

Designated Use

(1) Sixty Percent (60%) of the income in a given year is to be used in the following ways:(A) Establish a Bible verse memorization program. Awards will be given as a person of any age memorizes Bible verses. Goals will be set up in participant capability categories, with awards to all who achieve the goals. (Statement of goals, suggested verses for memorizing and awards will be published separately.) As much as 40% of net income in a year would be used in support of this program. Up to 10% may be used for materials if indicated. The balance is to be used for appropriate awards. The Session of the BENEFICIARY shall appoint an oversight committee to oversee the complete administration of this program as outlined above and to provide a written annual report to the Session with a financial statement as to how the funds were used and the amount of the balance carried over, with a copy being forwarded to the FOUNDATION.(B) Up to 20% of the income may be used to support leaders, teachers and committed lay members to leadership training events that are known to be consistent with the Presbyterian Book of Order and a conservative interpretation of the scriptures.(C) If the income for the purposes outlined in (1)(A) and (B) is not completely used in a given year then it may be carried over for a period of up to 3 years. If at the end of the three year period excess funds remain in this category then they shall be transferred to (2)(A) and (B). (2) Forty Percent (40%) is to be used as follows:(A) 40% shall be used for young life camp scholarships, with Malibu (Canada) being first choice if space is available. Preference should be given to non-Christian young people. Scholarships can be funded in whole or in part, depending on the need and incentive they provide. Recipients need not be members of the BENEFICIARY.(B) The above allocation of 40% is our primary desire, however if a situation arises in which it is highly desirable to support a member who is preparing for a full time evangelical career and cannot do so because of lack of funds, then up to 25% of the allocation of (2)(A) can be used for this purpose.Under no conditions is the income from this Fund to be used for political purposes. Minorities are encouraged to participate in the above programs on an equal opportunity basis.Should the BENEFICIARY fail to comply with the terms and stipulations of this agreement for three years in succession, then said income shall be distributed as follows for the next three (3) years: 50% to the American Bible Society, 1865 Broadway, New York, New York 10023 25% to Medical Assistance Programs, Box 50, Brunswick, Georgia 31520 25% to Young Life, 720 Monument Street, Colorado Springs, Colorado 87901The BENEFICIARY has three three year periods to comply with the terms and stipulations of this agreement. If the BENEFICIARY fails to comply for three three year periods consecutively or nonconsecutively then 50% of the principal shall be paid out as follows: 25% to Medical Assistance Programs, Box 50, Brunswick, Georgia 31520 25% to Young Life, 720 Monument Street, Colorado Springs, Colorado 87901and the remaining 50% of principal shall continue to be permanently invested and only the income shall be paid in perpetuity to the American Bible Society, 1865 Broadway, New York, New York 10023.