THE JOHN ALEXANDER BRI HT MEM RIAL FUND THE NON- RIBING PRE 8YfERIAN C HOFI hari Commi n No NICI RT OFTHE TR srEE R THE YEAR ENDED 31 DE EMBER The Fund's purp)se is to benefft The Non-subscribing psbYterlan Churth of Ireland. It does this by providing financial assistance by way of interest free loan5 to congregations or grants to church l¥)dies there-by assisting them with projects to develop and fulfil their objectives. The Trustees acknowledge their Public Benefit obligations and believe they have discharged their duties appropriately. During the year two congregations applied for and where granted loans by the Fund. No applications for grants were received; no loans fell due for repayment and no loans We repaid early. In June the Trustees adopted a p)licy whereby congregations who repaid their loans in accordance with the terms of repayment would qualify to avail of a discount of 10 % of the amount payable. The Fund recorded a surplus of £39,150 for the year - an increase of £10,956, 39 % over 2016. As the Fund's cash position was deemed to be rn0 than adequate to meet anticipated needs a further £25,000 was added to the investsnent portfolio so as to enhance the income for the future. At the year end the market value of the investment portfolio was £796,029. The Investment Committee continue to review the portfolio on a quarterly basis and liaise with the Investrnent Advisers as necessary. The Fund remains in good financial health and is well placed to supp)rt congregations and church organisations WIK) require fundiThJ for appropriate projects. The prinapal address of the Fund is:_ 102 Circular Road Belfast
r4 2GE The follow7ng were Trustees on 12 June 2018:_ Mr D Aylmer, Rev C Campbell, Miss J.Caven, Rev L Cockcroft, Rev I Gilpin, Rev N Hutton, Mr I Laird, Mr l Mccullough, Rev R MCK, Rev J Nelson, Mrs M Nesbitt, Rev P Reid, Rev D Steers, Rev R Taggart and Mr C Wells. They all acted as Trustees throughout 2017. In addition Mr J Robinson was a Trustee from l January 2017 until his death on 15 February 2018 and Rev C Wilson was a Trustee from l January 2017 until his resignation on 4 November 2017. The Charivs goveming document is the will of the late Mrs Ellen Bright which is dated 27 January 1970. The Charity's PUry))se is to lfft the The Non-subscribing Presbyterian Church of Ireland. New Trustees are apint& by the exlsting Trust. Their appointment s proposed and seconded by knvo of the existing Trustees and is subiett to a vote. The repM)rt of the Trustees was approved on 12 June 2018. I L7ird Honorary Treasurer Revj Nelson Honordry Secretary