Fcc investment Committee’s Recommendations to the Board of Trustees on April 14, 2015

Current/Future allocation of Atlanta Life Financial Group (ALFG) dividend check split shall be allocated according to the following formula:

Dividend proceeds divided by total ALFG shares (3060 shares) = Price per share

Norris B. Herndon Memorial Fund (2860 shares x price per share) = $25,975.78

Henry Brown Memorial Fund (200 shares x price per share)= $1,815.20

Total dividend Payout =$27,790.98

-Quarterly statements for UCF and Cornerstone Funds shall be distributed to members of the Investment Committee within 15 days following the end of each quarter. Quarterly Statements will also be uploaded to Basecamp under Investment Committee folder.

-Investment Committee recommends FCC BOT initiate conversation regarding designated use for funds held in the Henry Brown Memorial Fund. Note: Payout of dividend and gains can begin when fund balance exceeds $10,000.00.

-Investment Committee recommends FCC BOT approve Spending Policy for Designated and Restricted Funds. Investment Committee has recommended the following formula:

For each Restricted Fund use the year end balance to calculate a 3 year average. Multiply the average by 4% to arrive at projected payout amount. Projected payout amounts will be reflected in the Operations Budget for the coming year. Payouts for restricted funds should occur annually. This policy was exercised for the 2015 Operations Budget.

-Completion of updating FCC Endowment Policy for receiving gifts, investing bequests (to include Spending Policy recommendations as it relates to investment income and gains along with a recommended time table for withdraws). Copy of Endowment Policy template provided by United Church Funds (UCF) will be distributed to members of Investment Committee to assist in policy formulation. Endowment Policy shall be approved by majority vote of BOT.

-Total amount of Invested restricted funds YTD is $486,486.00.