Builders Class Legacy Fund
A fund created under the umbrella of The Myers Park Wesley Foundation, Inc
which is a tax-exempt organization under Section 2 501 (c)(3) of the Internal Revenue Code to allow:
- Bequeaths in wills to Fund
- Memorials made to Fund
- Fund raisers going to Fund
- Alternate Gifts made to Fund
Disbursements from the Fund go to service projects or other charitable needs the Builders Class deems to be worthy.
Funds will be held by Church in a separate account managed and administered by the Board of Directors of The Myers Park Wesley Foundation, Inc. Authorized persons from the Builders Class can request disbursements from the Board.
Once Fund has reached a balance of $150,000 only the earnings of the Fund can be disbursed.
The Builders Class is allowed to designate the purpose for which the funds will be used and has done so, as set out above.
When the Builders Class no longer exists, the Fund will be administered by the Board of Directors of the Myers Park Wesley Foundation, Inc and the Foundation will seek guidance as to disbursements from the church staff member responsible for oversight of the adult Sunday School classes.