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First Baptist Church of El Paso

805 Montana Avenue

El Paso, Texas 79902

(915) 533-1465

FOUNDATION OVERVIEW One of the functions of The Foundation is to act in a fiduciary capacity to carry out the wishes of the members of First Baptist Church–El Paso. With this responsibility in mind, control features have been established to ensure the fiduciary requirements are met. A summary of these features follows. Governance The Foundation is run by a seven (7) member board elected by the Deacons, and from the congregation for three year terms, to govern The Foundation's operations. The Foundation Board serves without compensation. Rotation of board members is required. Tax Status The Foundation has been approved by the IRS as a 501c(3) supporting organization of First Baptist Church–El Paso. Investments The Foundation raises money quietly, using current and planned giving techniques. Experienced tax professionals are available to assist members' professional advisers when requested. Timely tax reporting information is provided to donors and Church members on request. Disbursing of Resources The Foundation is required to use its resources to promote the Kingdom of God through the grants and distribution of funds, as considered and approved by the Board of The Foundation. Grants and distributions are reviewed and approved by the Congregation at the periodic business meetings. Approved grant making policies are in place, as well as a Conflict of Interest policy. Further, the grantees and beneficiaries supported by The Foundation agree to report back to The Foundation on how the support was used. Confidentiality The Foundation adheres to a confidentiality policy concerning gifts received, and thus obtains a signed statement from donors covering their wishes on confidentiality. Accounting Records The Foundation accounting records are maintained using accepted accounting practicies and provide the necessary separate accounts for the following types of funds: • Undesignated Endowment Funds • Designated Funds • Expendable and Nonexpendable Funds • Memorial Funds • Donor Advised Funds • Charitable Gift Annuities Maintaining these funds enables The Foundation to carry out donor wishes whether it be to add their gift to the undesignated endowment fund, create a special designed use fund such as scholarships, expend the corpus and earnings thereon as needed to fund a specified ministry, make a gift in memory of a loved one, create a Donor Advised Fund, or be issued a Charitable Gift Annuity. The Foundation files a federal Information Return (Form 990) annually, as required by law. It is available to the public for review.

First Baptist Church of El Paso

805 Montana Avenue

El Paso, Texas 79902

(915) 533-1465