Christ Lutheran Church

A TRUST FUND

for

Christ Lutheran Church

Las Vegas , Nevada

Christ Lutheran Church of the city of Las Vegas, State of Nevada has a living endowment of faithful members with rich gifts and varied talents.

"As each has received a gift, employ it for another, as good stewards of God 's varied grace whoever renders it by the strength which God supplies, in order that in everything God may be glorified." (I Peter 1:10-11)

NOW THEREFORE, in order to establish a permanent Trust Fund within the church to enable the further extension of the stewardship of our church:

BE IT RESOLVED:

That the membership of Christ Lutheran Church establish a Trust Fund to receive and administer bequests, estates, insurance, memorial and other assets, to be perpetual and perpetuating. And,

BE IT FURTHER RESOLVED:

The purpose of the Trust Fund is to enhance the work of the Church separate and beyond those matters normally provided for as part of its general operating budget and not to be used as a source of funding that is supplemental to the general operating budget. And,

BE IT FURTHER RESOLVED:

That the Trust Fund shall adopt and share the common religious doctrines, principles and disciplines of the Church. And,

BE IT FURTHER RESOLVED:

That the Trust Fund Committee shall be custodian of the Trust Fund. And,

BE IT FURTHER RESOLVED:

That while Christ Lutheran Church has every intention of using the Trust Fund as set forth in these resolutions, it does recognize that with the passage of time and changing circumstances, there may be a time when it is not feasible to utilize the Trust Fund as was intended. Should that situation develop, Christ Lutheran Church or its successors in interest shall then be free to make such other use of the income and principal as is consistent with the charitable and religious purpose of Christ Lutheran Church, in accordance with provisions of the laws of the State of Nevada, and the intent of preserving the principal so as to be perpetual.

NOW THEREFORE, in order to carry out the purposes of the Trust Fund and to enable the further extension and stewardship work of our church,

BE IT FURTHER RESOLVED:

I. The Committee

The Committee shall consist of five members, all of whom shall be voting members of Christ Lutheran Church. Except as herein limited, the term of each member shall be three (3) years. After the adoption of this resolution by the congregation, it shall elect five (5) members to the Committee - two (2) for a term of three (3) years; two (2) for a term of two (2) years; and one (1) for a term of one (l) year. Thereafter at each annual meeting the congregation shall elect the necessary number for a term of three (3) years. No member shall serve more than two (2) consecutive terms. A partial term shall not be counted for this purpose. A former Committee member may be re-elected after a lapse of twelve (12) months between his/her election for a third term and the completion of his/her second term.

A Trust Fund Committee member may resign at any time. Committee members shall be subject to removal from office by a two-thirds (2/3) majority vote of the members present at an annual meeting of the congregation or at a special meeting of the congregation properly called for the purpose of removing a Committee member.

In the event of a vacancy on the Committee, the remaining members by a majority vote shall appoint with consent of the Church Council a member to fill the vacancy until the next annual meeting of the congregation, at which time the congregation shall elect a member to complete the un-expired term.

Trust fund Committee members shall be nominated by the nominating Committee in accordance with the applicable provisions of the church's constitution.

All Trust Fund Committee members shall endeavor to communicate with the church council, other organizations within the church, and members of the congregation to nurture the total life and mission of the church and of the Fund. A Trust Fund Committee member shall not serve concurrently on the church council. The senior pastor of the church and the president or chairperson of the church council shall be ex-officio nonvoting members of the Trust Fund Committee.

The Committee shall elect from its membership a chairperson, treasurer, and secretary.

The Committee shall meet at least quarterly at the church at a time fixed by resolution of the Committee and may meet more frequently if desirable for the best interests of the Fund. Special meetings may be called on twenty-four (24) hours written or oral notice to the members of the Committee by the chairperson or any two members. No notice other than recording of the resolution of the board fixing the time of the regular meetings need be given the members. Each member is charged with knowledge of the contents of the minute book.

A quorum shall consist of three (3) members, entitled to vote.

The Committee shall establish written rules and regulations as may be necessary for the conduct of its business. It shall adopt standards and goals to guide in the expenditure of the income from the Fund which it may vacate and amend all within the stated purposes of this Fund.

The Committee shall maintain accounts with such financial institutions as it may by resolution authorize and determine. All checks and other documents transferring or expending any funds or assets in the Fund shall be executed by the treasurer and either the chairperson or secretary of the Committee.

Any member of the Committee with check signing authority, at the expense of the Fund, shall provide a corporate fidelity bond in a principal amount to be determined from time to time by the Committee.

The Committee may ask other persons to serve as advisory members and may employ, at the expense of the Trust Fund income, such professional counseling on investments and legal matters as it deems appropriate for the best interest of the Trust Fund.

The Committee shall maintain complete and accurate books of accounts and may employ such professional help for this purpose as it deems necessary. The books shall be audited annually by a certified public accountant and such audit report shall be kept on file and presented to the congregation at the time of the annual meeting of the congregation.

The secretary shall maintain complete and accurate minutes of all meetings of the Committee and provide a copy thereof to each member within seven (7) days after the meeting. Each member shall keep a complete copy of minutes to be delivered to his or her successor.

The chairperson, or the member designated by the chairperson, shall preside at all Committee meetings.

No member of the Committee shall engage in any self dealing or transactions with the Fund in which the member of the Committee has direct or indirect financial interest and shall at all times refrain from any conduct in which his/her personal interests would conflict with the interests of the Fund.

II. Duties of the Trust Fund Committee

The Committee shall be authorized to expend up to ninety percent (90%) of the Trust Fund's annual net income for the charitable purposes outlined in this instrument. Ten percent (10%) of the Trust Fund's annual net income shall be accumulated and added to principal. Except as otherwise set forth in this instrument, the Committee shall not be authorized to invade the principal of the Trust Fund.

The Committee, at each annual meeting of the congregation, shall render a full and complete account of the administration of the Trust Fund during the preceding year. The Committee may receive funds through gifts, memorials, bequests, wills, estates, etc. From any individual or corporation or organization or from any other source in cash or in other property acceptable to them. All trust funds and property shall be kept and maintained separate, distinct and independent from the funds and property otherwise belonging to the church.

The Committee shall in no event be required to make physical segregation of the assets of the Trust Fund in order to conform to the directions of any individual donors, but may establish separate accounts in its accounting records.

The Committee shall from time to time inform members of the congregation of the purposes of the Fund, and may periodically arrange for members of the congregation to meet with professional counselors in the areas of charitable giving, wills, bequests, insurance, etc.

III. Powers of the Trust Fund Committee

In the administration of this Trust Fund, the Committee shall have all powers and authority necessary to carry out the purposes of the Fund, including but not limited to, the following powers and authority on behalf of Christ Lutheran Church.

To take, have, hold, sell, exchange, rent, lease, transfer, convert, invest, reinvest, and in all other respects to handle and manage and control, the Trust Fund, or any part thereof, as they in their judgment and discretion shall deem wise and prudent.

To retain any property in the form in which received; to convert and reconvert the Trust Fund, or any part thereof, into other kinds and forms of property, real or personal or mixed; and to invest or reinvest the Fund or assets herein, or any thereof, as they shall deem wise and prudent, including in such common or preferred stocks, bonds, debentures, mortgages, notes or other securities, investments or property whether real or personal, which they in their absolute discretion may select or determine and including, without limitation, savings deposits of any bank, mutual savings bank, federal home loan bank or savings and loan association, or any common trust fund, mutual fund, or any other like fund, subject to the usual standards of prudence required of trustees of similar funds.

To receive the income, profits, rents and proceeds of the Trust Fund and to collect and receipt for the same, and pay all administrative and necessary expenses in connection with it. Expenses are to be paid from the Trust Fund income.

To make, execute and deliver all instruments necessary or proper for the accomplishment of the purposes of the Trust Fund or of any of the foregoing powers, including deeds, bills of sale, transfers, leases, mortgages, assignments, conveyances, contracts, purchase agreements, waivers, releases and settlements.

To determine and direct within the guidelines and limitations expressed herein the appropriate purposes for which the trust Fund income may be used. To contribute, donate, support or distribute, from time to time, for the purposes herein stated, such payments or amounts from income of the Trust Fund as the Committee in its discretion shall determine. To determine what is principal and income according to recognized accounting procedures. To add accumulated net income of the Trust Fund to principal. To hold investments in the name of the Christ Lutheran Church Trust Fund on behalf of the congregation and to sign checks and all other necessary documents on behalf of the congregation in furtherance of the Trust Fund purposes.

To employ and reasonably compensate from the Trust Fund income, accountants, agents, and attorneys to assist and advise in the execution of the Trust Fund, without liability for their omissions or neglect, but using reasonable care in their selection, and to rely on the advice of the persons so employed.

To exercise the powers of a trustee as enumerated in Nevada Revised Statutes 9~ 163.265 to 163.410, inclusive, except as otherwise limited or prohibited in this instrument or by applicable law.

The powers vested by this Article shall be exercised only by a majority vote of those members of the Committee entitled to vote, who are elected and serving.

The Trust Fund Committee shall not be liable for any losses which may be incurred upon investments of the Trust Fund except to the extent that such losses shall have been caused by bad faith or gross negligence of the Committee members. No member shall be personally liable as long as he or she acts in good faith and with ordinary prudence in discharging the duties of the office. Each Committee member shall be liable only for his or her own willful misconduct or omissions in bad faith. No Committee member shall be liable for the acts or omissions of any other Committee member, or of any accountant, agent, attorney or custodian selected with reasonable care.

The Trust Fund Committee members shall not receive any compensation, but may be reimbursed from the income of the Trust Fund for expenses reasonably incurred.

IV. The Congregation

Upon a recommendation by the Trust Fund Committee, the congregation may, upon a two-thirds (2/3) vote of those present at a legally called meeting of the congregation, allocate any Trust Fund principal to a beneficiary that is recognized and approved by this Trust Fund enabling instrument. Further, in the event of a catastrophe or dire emergency, the Trust Fund Committee may recommend that the congregation vote to allocate any portion of the principal to meet the needs and requirements of such catastrophe or emergency.

This Trust Fund Resolution may not be altered or amended except by a two-thirds (2/3) vote of the members present at an annual meeting of the congregation, or at a special meeting called specifically for the purpose of amending this resolution

V. Tax Exemptions

Any gifts given to the Trust Fund, as well as all income derived there from, shall be used exclusively for religious, charitable and educational purposes with Section 501 (c) (3) of the Internal Revenue Code of 1954 or the corresponding provision of any future United States Internal Revenue Law. This Trust Fund is created and shall be operated exclusively for the church purposes. No part of the income or property of this Fund shall inure to the benefit of or be distributable to any member, director or officer of the church or to any other private person, except that the Trust Fund Committee is authorized and empowered to pay reasonable compensation for services rendered and to make payments and distributions in furtherance of the purposes set forth herein. No part of the activities of the Trust Fund shall be the carrying on of propaganda or otherwise attempting to influence legislation, and it shall not participate in or intervene in (including the publishing or distribution of statements) any political campaign on behalf of any candidate for public office. Notwithstanding any other provision of this document, the Trust Fund shall (a) not carry on any activities not permitted to be carried on by an entity exempt from federal income tax under Section 501 (c) (3) of the Internal Revenue Code of 1954 or the corresponding provision act which would render contributions to the Trust Fund non-deductible under Section 170 (c) (2) and 501 (c) (3) of the Internal Revenue Code of 1954 or the corresponding provision of any future United States Internal Revenue Law.

This Trust Fund may be dissolved in accordance with the laws of the State of Nevada. Upon dissolution of this Trust Fund, and after the payment of all liabilities, obligations, costs and expenses incurred by this Trust Fund, any remaining assets shall be distributed to such entities organized and operated exclusively for one or more purposes described in Sections 170 (c) (2) and 501 (c)(3) of the Internal Revenue Code of 1954 or the corresponding provision of any future United States Internal Revenue Law.