Resolution to Revamp the Synagogue Resources Load Fund

Be it hereby resolved that:
  1. The Synagogue Resources Loan Fund ("SRLF") Committee may recommend to the UAHC President and Chairman that grants or loans be made from the SRLF to particular small synagogues or consortia of small synagogues for the purpose of enhancing the development of those synagogues by providing financial assistance for such matters as (but not limited to): supplementing compensation of clergy, educators or other professional staff; acquiring educational materials; acquiring ritual objects; acquiring or improving synagogue premises; enabling synagogue employees or members to attend meetings, conventions or educational programs. Each recommendation shall include the terms and conditions upon which the loan or grant is to me made.
  2. The UAHC President and Chairman shall either approve, reject or refer back to the SRLF Committee for further information or consideration each of the recommendations submitted. Approved grants or loans shall be made upon the terms and conditions specified in the recommendation with such modifications as may be specified in the approval. All grants and loans shall be reported by the SRLF Committee to the Board of Trustees.
  3. All sums now held by the SRLF and all subsequent contributions to the SRLF shall be invested as part of the UAHC Endowment Investment Pool (the "Pool") and shall be credited with earnings ("Credited Pool Earnings") in accordance with the procedures followed by the Pool.
  4. All credited Pool Earnings, amounts received in payment of loan interest and amounts received in repayment of loans (other than loans from SRLF principal pursuant to paragraph 5 of this resolution) (collectively "SRLF Income") may be used for loans or grants in accordance with the provisions of this resolution; provided, however, that any SRLF Income not loaned or granted within twenty-four (24) months after it is credited or received shall become part of the SRLF's principal.
  5. Up to seventy-five percent (75%) of SRLF principal (or any other percentage determined by resolution of the Board of Trustees) may be utilized for loans, but not for grants, in any UAHC fiscal year in accordance with the provisions of this resolution. Repayments of such loans shall become part of the SRLF's principal.
  6. Guidelines for making grants and loans from the SRLF shall be drafted by the SRLF Committee and enacted by the Board of Trustees or the Executive Committee.