Altavista Presbyterian Church Inc.

ACT for Missions Fund

Beneficiary location:

Altavista, VA

Account number: 102261094927

Designated Use

Restricted per use by the church for the annual income from the fund to be used for their mission work. Additional distribution procedures as follows: Upon specific written request of the session of Altavista Presbyterian Church, Altavista, VA by the clerk of session, the Foundation shall pay Altavista Presbyterian Church from the permanent fund an additional amount up to $5,000 from the principal of the Fund in any one calendar year. The specific written request from the clerk of session must certify that the funds requested are a match to the Altavista Presbyterian Church's congregational giving for a specific mission project and these funds shall be used for the specific mission project. Upon specific written request of the session of Altavista Presbyterian Church by the clerk of session, the Foundation shall pay to Altavista Presbyterian Church from the Fund an amount up to fifteen percent (15%) of the fair market value of the Fund assets valued as of the first day of each calendar year of the Fund (hereinafter the valuation date). The funds are to be used as directed by the session. A disbursement under this paragraph may only be made once every five calendar years. The written request shall include a certification by the clerk of the session that the members of Altavista Presbyterian Church were given reasonable notice of the proposal to withdraw funds under this provision and that two-thirds (2/3rds) of the members present approved of the disbursement. If at any time the value of the fund falls below the current minimums of the Foundations permanent fund policies, the Foundation may pay out the remainder of the Fund directly to Altavista Presbyterian Church or its successors.