The funds will be placed in an account with the Alabama Christian Foundation so they will always be separated from other Freedom Source funds. Freedom Source will provide the management and administration at no charge to the 245 Partnership.

 

Individual partners will make their contributions directly as designated contributions to the 245 Partnership at The Freedom Source. All contributions will come through The Freedom Source for proper identification and record keeping.

 

The Board of Directors of The Freedom Source reviews financial reports quarterly and our financial reports are audited by an outside accounting firm, Lamar and Associates.

 

The Partnership will meet 4 times per year, primarily for prayer for those in need (subject to privacy concerns) but also for a detailed report on distributions and financial condition. Full disclosure on uses of all funds will be given. Updates of results as reported by the churches will also be provided

Grant Award Committee

• The Fellowship will elect a Grant Award Chairman and a 3 member Distribution Committee.
• The Chairman, except for the initial year, should be elected form those on the committee the prior year for continuity and will serve for 2 years.
• Committee members serve a 2 year term with annual rotation - 2 roll off each year.
• The Committee will meet quarterly to review requests and decide on distribution of funds.
• All grants must be agreed to unanimously by the committee. We serve our Lord Jesus Christ and He is the head of the body. Thus, until we reach unity we can in no way believe we have found His will.
• The Grant Award Committee will have full discretion in the use of funds.
  • The intent is to help those with temporary though significant financial problems that will be difficult to overcome. The focus is not to try to deal with systemic problems such as homelessness or abject poverty (worthy causes but not the primary purpose of the Fellowship).
  • Priority will be given to opportunities that will facilitate a return to self-sufficiency. Deeper problems can be considered if the Committee feels that the support we can offer can have a meaningful impact on the situation.
  • There will be no requirement that any distribution be made in any given month nor that the full amount available be used. Any unused funds will be carried over for future use.
  • No award may be made in excess of available funds but all available funds, including carryover from prior periods, can be used if the need so indicates.
  • Awards are intended to be one time awards to avoid any monthly support structure. There will be a limit of one award per family. Preference will be given to dealing as completely as possible with one problem rather than dealing only partially with several problems.
• The Committee will report to the Partnership at the quarterly meeting and in writing for those who are unable to attend as to the distribution decisions, without specific family or church names for confidentiality.