DR FRANK FORMAN & CARRIE FORMAN MEMORIAL FUND

DR FRANK FORMAN & CARRIE FORMAN MEMORIAL FUND CREATED UNDER THE WILL OF MRS. CARRIE FORMAN WHICH LEFT ALL OF HER PROCESSIONS TO THIS CHARITABLE TRUST FOR THE BENEFIT OF FIRST PRESBYTERIAN CHUCH OF WACO,TX. UPON REQUEST BY THE CHURCH OR DISCRETION OF THE TRUSTEE, ACCUMULATIONS OF INCOME ARE PAID TO THE CHURCH FROM THE CHARITABLE TRUST. DISTRIBUTIONS MUST BE MADE AT LEAST ANNUALLY TO THE CHURCH. MRS. FORMAN'S WILL APPOINTED CHURCH TRUSTEES TO RECEIVE THE DITRIBUTIONS FROM THE TRUST AND TO PAY THEM OUT FOR THE FOLLOWING CHARITABLE PURPOSES: 1)$500 ANNUALLY TO THE BENEVOLENT BUDGET OF THE CHURCH, 2)AT THE DISCRETION OF THE CHURCH TRUSTESS,THEY SHALL SELECT WORTHY RECIPIENTS OF COLLEGE SCHOLARSHIPS, 3)AT THE CHURCH TRUSTEES'DISCRETION,THEY MAY USE THE FUNDS FOR THE RELIEF OF INDIVIDUAL HARDSHIP OR CHARITY CASES REFERRED TO THE CHURCH TRUSTEES BY THE PASTOR AND BENCH OF ELDERS OF THE CHURCH,AND 4)IF FUNDS ARE AVAILABLE,THE CHURCH TRUSTEES MAY MAKE GIFTS TO AUSTIN COLLEGE FOR SCHOLARSHIPS ONLY.