Task Force Report - Terms of Reference of Johnston Bequest
https://archives.anglican.ca/link/official724
- Date
- May 1988
- Type
- Resolution
- Mover
- Rev. M.C. Ingham
- Seconder
- Mrs. P. McBeth
- Prologue
- Moved by: Ven. V.L. Kerr
- Seconded by: Ven. F.H. Hazen
- That the proposed Terms of Reference for the future use of the capital and income of the Isabel E. Johnston Bequest, beginning January 1, 1989, be adopted.
- Text of motion
- That in section 2(b) of the Terms of Reference the word "unforeseen" be deleted. CARRIED #23-05-88
- The amended motion (Kerr/Hazen) regarding the proposed Terms of Reference was put and CARRIED #24-05-88
- Notes
- Johnston Bequest Terms of Reference - January 1, 1989
- 1. [a] Maintain the capital of the Isabel Johnston Bequest as an endowment fund; available income would be about $170,000 a year.
- [b] Permit National Executive Council to authorize the use of all or part of the capital for specific projects or purposes which require significant capital infusion.
- 2. [a] Allocate 30% of income to new and/or innovative projects approved by dioceses [as at present] under the Johnston Bequest allocations committee.
- [b] Allocate the other 70% of the income to unbudgeted needs identified by the Primate, the Executive Director of Program, or other national staff or committees.
- 3. Administer this 70% income allocation through a sub-committee of the Program Committee [whether a new or existing sub-committee] for recommendation to the parent body for decision and subsequent report to National Executive Council of action taken.
- 4. Review the efficacy of these terms of reference every 3 years, through a task force appointed by the Administration & Finance Committee and composed of, among others, persons involved in the granting process.
- Subjects
- Anglican Church of Canada - Finance
- Anglican Church of Canada - Endowments
- Isabel Johnston Bequest