First Presbyterian Church

Madson Memorial Endowment Fund-55751

Beneficiary location:

Salem, OR

Account number: 102240202845

Designated Use

25% for its Outreach Committee for local use; 25% for Christian education for youth and youth activities; 25% for the music department; 15% for building and grounds; and 10% for the church library for books, audio/visual aids or other related educational material. Should First Presbyterian Church determined within its sole discretion that any aforestated use for a portion of said net income has become impossible or impractical of fulfillment, the First Presbyterian Church shall add such portion of said income to the general fund of First Presbyterian Church. In case of an extreme emergency, such as fire, earthquake, flood or storm damage to the church, the Session may determine priority use for income that supersedes the allocations listed above. In any case, this priority use determination may not extend further than a one-year period in each case, nor at any time is said net income intended to be part of the annual church budget.