Questions & Answers about AC Nava Charitable Foundation:
* Aid in the financial assistance in the event of death of a member;
* Provide financial assistance to a pastor and/or his family for illness, disability, death, or retirement; Provide scholarship funds to deserving students in the local churches;
* Provide emergency assistance to the local churches for food, shelter, medical supplies, and/or services;
* Provide assistance to all members for counseling services for those experiencing trauma of any kind.
SAFEGUARDS OF THE TRUST FUND
1. There are several levels of safety built in the structure of the Antonio Castaneda Nava Trust Fund and Charitable Foundation: The Trust Document defines and directs all actions taken on behalf of the Trust Fund. These instructions are irrevocable.
2. Each institution that will provide products or investment services are each backed by billions of dollars in assets and reserves.
3. The Trust Fund will have a full-time Administrator, whose duties are to coordinate all institutional investors and providers of services. This Administrator is also required to carry Errors and Omissions liability coverage and to be bonded on all required activities.
4. Monies from the General Trust Account held by the US Bank can only be distributed upon the approval of the President, General Secretary, and Secretary of Social Assistance.
5. Monies from the Trust Fund can only be distributed in accordance with the terms and conditions of the Trust Document, which states that the Individual (the President of the Apostolic Assembly and the Secretary of Social Assistance) Trustees and the Corporate (PFF Bank + Trust representatives). Trustees must approve all distributions.
6. All investments made by the Corporate Trustee on behalf of the Trust Fund can only be made after receiving instructions from the Settlor (the Apostolic Assembly), during a once yearly meeting (refer to Trust Document, Section 6.b.).
7. There are written limitations on the amounts of monies that can be distributed for the defined purposes of the Trust Fund. The Trust Document stipulates that only a percentage of monies accumulated may be distributed (refer to Trust Document Section 4.b. and 4.d.).
8. Under no circumstances can monies from the Trust Fund benefit any private individual (except to the extent permitted by the Trust), political campaigns, propaganda, or lobbying (refer to Trust Document Section 4.c.).
9. To insure against fraud or any misuse of Trust Fund monies, any Trustee may contact the office of the Attorney General of the state of California without notice to the Church or any other Trustee to discuss any aspect of the administration of the Trust (refer to Trust Document, Section 7.a.xv.).
1. The Trust Fund administrator is a full-time manager of the Trust Fund. The duty of this manager is to oversee various aspects of the activities of the Trust Fund, primarily to coordinate the activities of raising monies from local churches, personal, and corporate contributors.
2. The Corporate Trustee, PFF Bank + Trust Assets Management Division and PFF Bank + Trust Investment Management Group will manage the investments and distributions of monies.