Springwood Presbyterian Church

DP Foust - Springwood Church Trust

Beneficiary location:

Whitsett, NC

Account number: 102240101507

Designated Use

For the purpose of keeping up preaching in said church. [2009 NC Court determined amounts to be paid and reinvested through the end of 2009.] Starting in 2010 Springwood will prepare the annual accountings and will calculate the proper 75% distribution based on annual account figures presented to the Clerk of Court. It will be up to the new Trustee [Springwood PC, Whitsett, NC] to decide whether the distribution amount requested from the FDN is before or after the audit of the annual account by the Clerk of Court. The remaining 25% of the distribution will be reinvested back into principal.