Collegiate Presbyterian Church

The Fanslow Family Fund

Beneficiary location:

Ames, IA

Account number: 102240101577

Designated Use

The Foundation shall reinvest the net income of the Fund (hereinafter the Net Income) into principal until the death of the last to die of the Donors, so that such reinvested Net Income becomes principal. After receipt of written notice of the death of the last to die of the Donors, the Foundation shall pay the Net Income to the Collegiate Presbyterian Church, 159 Sheldon Avenue, Ames, Iowa 50014 (hereinafter the Beneficiary). The use of the distributions from the Fund shall be limited to those projects that are recommended by the Endowment Committee and approved by a 60% majority of the Session. Although the donor's preference for spending distributions would be for refurbishing and maintenance of the church facilities, this preference does not preclude spending for other projects judged of greater priority by the Endowment Committee. When recommendations by the Endowment Committee are not approved by a 60% majority of the Session, no funds are to be spent.