Fund Administration

1. What is the fund’s purpose?

The purpose of the Geno Strong Memorial Fund is to sustain an interest-bearing funding source that grows the fund’s principal while also sending teens to camp indefinitely.

2. What is the fund’s strategy?

The fund’s strategy shall be to produce income, grow principal, and fund scholarships.

A. Producing Income: The fund’s two principal sources of income will be earned interest and individual donations.

B. Principal Growth: The fund will grow by reinvesting 10 percent of the annual earned interest back into the fund’s principal.

C. Funding Scholarships: From the fund’s annual interest, 90 percent will be awarded as scholarships to teens attending the Rocky Mountain District of the Assemblies of God annual camp.

3. How is the fund administered?

The fund shall be administered and entrusted to the official board of Highpoint Church and guided by the following criteria:

A. Placement Criteria: The fund shall be placed in an interest-bearing account outside of the general operating fund of Highpoint Church. Additional donations and interest income shall be added to the fund no later than thirty days after their receipt.

B. Growth Criteria: Ten percent (10%) of the fund’s annual interest will be reinvested as principal.

C. Scholarships Criteria: Ninety percent (90%) of the fund’s annual interest will be awarded as scholarships to teens attending the Rocky Mountain District of the Assemblies of God annual camp. The only qualification for recipients of the scholarships shall be registered attendance and affiliation with a church attending the annual Rocky Mountain District youth camp.

D. Management Criteria: The fund shall be managed by the following stewardship criteria:

(1) General Oversight: The fund shall be administered and disbursed by motions of the official board of Highpoint Church. The board shall receive and give a report to the church when deemed necessary.

(2) Fund Maintenance: Periodic maintenance, reporting, and recommendations regarding the fund shall be done by the fund’s steering committee.

a. The committee shall consist of at least three (3) people appointed by the Highpoint board. At least one of those members shall be currently serving as a board member.

b. The committee shall meet in person or electronically once a year and be prepared to email a recommendation report to the official board no later than April so disbursements can be made by the first week of June.

c. The steering committee may delegate the specific selection of recipients to any youth pastor or district official it deems appropriate.

(3) Example:

Following is a hypothetical example of how the fund would be handled on April 1 of each year:

a. A $22,000 fund balance on April 1 with a 1 percent annual interest earned of $220.

b. Ten percent (10%) of the interest earned ($220) would be $22 which would be added to the new principal, and 90 percent of the interest earned ($198) would be given to students as a camp scholarship.

E. Leadership: The Geno Strong memorial fund is led by the following four committee members.

Vern Lentz, Chairman
Mike Miratsky, Secretary
Stephanie Farmer
Jeff Webb

The committee can be contacted at genostrong@highpointchurch.us