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Foundation Trusts
Bishop Ralph T. Alton Trust represents capital raised among churches throughout the Indiana Area upon Bishop Ralph T. Alton's retirement. His years of service to the Area were from 1972-1980 and 1983-1984. The earnings from this trust are to be used to support mission projects in the Indiana area.
Mark Blaising Medical Clinics Trust represents gifts to the Foundation in honor of Mark and Nona Blaising for Mark's service as Executive Assistant to the Bishop from 1986-1994. Distribution of income (and from corpus in emergency) will be made by the Board to Indiana Area physicians, dentists, and/or nurses serving in mission medical clinics in Africa, and for other needs in these clinics.
Cherry Trust represents funds that were given to Rev. Steve Cherry and his first wife, Patricia. Due to Mrs. Cherry's severe illness, medical attention was beyond the resources of the family. The unspent balance in the trust upon Mrs. Cherry's death resulted in a contribution to the Indiana Area Foundation with the understanding that the income from this trust be distributed to meet medical and hospital needs of other clergy families within the South Indiana Conference.
Mary Francis Cooper Trust is a bequest from the estate of Mary Francis Cooper. The income is to be given annually to the Bishop's Christmas Children's Fund of the Indiana Area, an offering taken each Christmas through Indiana Area United Methodist Churches since 1950.
Margaret A. Ewbank Trust (2006 – The $100,000 Margaret A. Ewbank Gift is to be held for ten years for the purpose of helping fund a new church building for the New Salisbury United Methodist Church at New Salisbury, Indiana.)
It is the donor’s intention that the New Salisbury United Methodist Church will raise matching funds to trigger the release of the Gift within ten years of January 1, 2007. If the church has not raised the matching funds and requested the release of the Gift by December 31, 2017, the funds shall be made available for mission causes as intended by the donor. The Indiana Area Foundation of The United Methodist Church shall serve as the fiduciary manager of the Gift and will be granted an administrative fee of one percent per year.
Edward Galahue Trust represents the capital from the Ancel C. Shuppert estate which established the annual Edward Galahue Scholarships for Indiana Area Seminary Students and a quadrennial Edward Galahue Fellowship for Overseas Study.
H. Wilber Hardacre Memorial Trust -- Established by the Foundation's Board of Directors in 2001 in response to vision of Bishop Woodie W. White, it is the goal that every new pastor entering the Order of Elder or Order of Deacon within the North and South Indiana Annual Conferences will receive the gift of journey to the Holy Land or other approved trips (Wesley Heritage Tour or Journeys of Paul) in accompaniment of the resident Bishop, as a capstone to their formal education and preparation for full-time ministry. Monies debited to this trust represent contributions of individuals and churches throughout the Indiana Area, including the application of $100,000 unrestricted bequest received from the Estate of H. Wilber Hardacre.
Ralph and Louise Harvey Education Trust, established by Ralph and Louise Harvey, was created to provide scholarships to academically qualified and financially needy students who are preparing for a life's work in a Christian ministry or service. Preference is given to students enrolled or enrolling at United Methodist seminaries and our Methodist related colleges and universities.
Ralph T. and Gladys D. Hendricks Memorial Trust was established as a bequest of Gladys D. Hendricks with the income to be distributed annually and equally between three churches in the North Indiana Conference: High Street UMC in Muncie; Eaton UMC in Eaton, Indiana; and Mt. Carmel UMC near Hartford City.
Bishop Leroy C. Hodapp Trust represents gifts received in honor of Bishop Leroy C. Hodapp at the time of his retirement. He served as Indiana Area Bishop from 1984-1992. Income from the trust is to be used for scholarships for young persons of Africa in need of an education.
Mark R. and Elizabeth S. Hull Trust was established by bequest from the Mark R. Hull estate. This trust is to be held as a Permanent Mission Fund, with earnings annually to be used for missions.
Bishop Richard C. Raines Trust represents the capital received in memory and honor of Bishop Richard C. Raines who was the Methodist Bishop of the Indiana Area from 1948-1968. These funds were given to provide a retirement residence for Bishop and Mrs. Raines during their lifetime. Upon their demise, the residence was sold and the funds held in perpetuity and invested. The earnings are to be used as determined by the Indiana Area Foundation Board of Directors.
Charitable Remainder Trusts
Jack M. and Erma J. Byrum Charitable Remainder Trust (August 13, 1997)
Distribution to Charity. Upon the death of the unitrust Recipients, the Trustee shall, within a reasonable time, distribute the then remaining principal and income of the Trust (other than any amount due to the Recipient or Recipient's estate under the provisions above) to the Indiana Area Foundation of the United Methodist Church, Inc., (hereinafter referred to as "the Charitable Organization").
The donors, having retained the right to designate the charitable purposes for which the charitable remainder may be put to use by the Charitable Organization, hereby state their wishes as follows:
In keeping with our special appreciation for the New Testament's model for ministry shared by laity, and clergy alike, our desire for this Trust is to provide an annual grant (or grants) to assist lay persons in a ministry to which they and their local church (which will provide official affirmation) believe God is calling them to fulfill in their local community.
These grants, to be administered by the Indiana Area Foundation of the United Methodist Church (Trustee), are for use by members of the congregation of First United Methodist Church, Clinton, Indiana. If, however, in any given year there is not an application or approval granted to a member of First United Methodist Church, a member of another United Methodist Church in Clinton, Indiana may apply. If none of the above apply or are not approved, a member of any United Methodist Church congregation in the South Indiana Conference may apply.
Grandin A. and Virginia P. Godley Charitable Remainder Trust (December 30, 1996)
Distribution to Charity. Upon the death of the unitrust Recipients, the Trustee shall, within a reasonable time, distribute all of the then principal and income of the Trust (other than any amount due to the Recipient or Recipient's estate under the provisions above) to the Indiana Area Foundation of the United Methodist Church (hereafter referred to as "the Charitable Organization"). The Settlors retain the right to designate the charitable purposes for which the charitable remainder may be put to use by the Charitable Organization, which designation follows:
With the death of both Settlors, the Trustee annually distributes the net income of the Trust as follows:
- Thirty percent (30%) of the net income is distributed to the "Ra-O-Ad (Handicapped) Campership Fund for Campers" of the North Indiana Conference of the United Methodist Church located at Marion, Indiana;
- Thirty percent (30%) of the net income is distributed to the "Elementary and Junior High Campership Fund" of the North Indiana Conference of the United Methodist Church located in Marion, Indiana; and
- Forty percent (40%) of the net income is distributed to the Indiana Area Foundation of the United Methodist Church, Inc. for such of its charitable purposes as it may determine.
Louise M. Harvey Charitable Remainder Trust (December 23, 1980)
Remainder Interest. Upon the first to occur of (i) the death of the survivor of the Grantor and her Husband, Ralph H. Harvey, or (ii) the death of the Grantor if she effectively exercises her testamentary power to revoke and terminate any interest of her Husband, Ralph H. Harvey, under the terms of this Trust Agreement, the then principal of the Annuity Trust, together with any and all then accrued income, other than any amount due to a non-charitable beneficiary, shall be distributed to The Indiana Area Foundation of the United Methodist Church.
Ralph H. Harvey Charitable Remainder Trust (December 23, 1980)
Remainder Interest. Upon the first to occur of (i) the death of the survivor of the Grantor and his Wife, Louise M. Harvey, or (ii) the death of the Grantor if he effectively exercises his testamentary power to revoke and terminate any interest of his Wife, Louise M. Harvey, under the terms of this Trust Agreement, the then principal of the Annuity Trust, together with any and all then accrued income, other than any amount due to a non-charitable beneficiary, shall be distributed to The Indiana Area Foundation of the United Methodist Church.