Astoria First Presbyterian Church

First Presbyterian Church of Astoria Fund

Beneficiary location:

Astoria, NY

Account number: 102261202788

Designated Use

1. The First Presbyterian Church of Astoria Fund is established to provide support for the program and ministry of this congregation, as determined by the church's Session. 2. Annual distributions form the First Presbyterian Church of Astoria Fund shall be made consistent with the Presbyterian Foundation's then-current methodology of calculating distributions from its Permanent Endowment Funds. 3. Should the Session determine that monies are needed from this Fund in excess of the distribution defined in #2 above, and acknowledging that this would represent an invasion of the Fund's principal, a written request will be submitted to the Foundation, after having been approved by Session of the Church at three successive stated meetings (such request having been documented in the minutes of each of those meetings), AND such request having been approved by Trustees of the Presbytery of New York City at three successive stated meetings (such request having been documented in the minutes of each of those meetings) or its successor body. [The AND of this section (#3) was released by Presbytery of New York Trustess on April 27, 2014.] 4. Under no circumstances may more than three requests for additional monies be made in a single calendar year. 5. In the event the First Presbyterian Church of Astoria is dissolved, the Presbytery of New York City, or its successor body, shall become the beneficiary of the Fund. The Fund shall then be restricted as to use solely for the purpose of starting or supporting a new congregation in the Western Queens/Astoria area. 6. In the event the Frist Presbyterian Church of Astoria is dissolved and should the Trustees of the Presbytery of New York City determine that monies are needed from this Fund in excess of the distribution defined in #2 above, a written request will be submitted to the Foundation, after having been approved by Trustees at three successive stated meetings (such request having been documented in the minutes of each of those meetings). 7. It is understood that new gifts may be added to the Fund at any time.