Bylaws for Daybreak Endowment Fund

Mission Statement of Daybreak Zambian Inc.:

To provide long-term financial assistance to Daybreak: Mission of Hope in Zambia (DMH). The purpose of the “Daybreak Endowment Fund” is to assist Daybreak Zambian Inc (DZI) in its long-term efforts to provide financial assistance to DMH.

More specifically, DZI exists to provide financial funding for the following ministries and projects at DMH in Zambia: Daybreak Bible College, Kerin’s Kids Children Ministry, Daybreak Christian School, Daybreak Optical Clinic, Daybreak Agricultural Training Program, and other such ministries that will benefit the spiritual and physical well-being of Zambians.

Mission Philosophy:

It is the policy of DZI to provide support to those projects and activities that are designed to promote moral and spiritual well-being and to equip and empower the indigenous population with the skills needed for them to achieve self-sufficiency. DZI endeavors to avoid such projects that foster dependency on foreign funds and expertise. DZI also advocates a holistic approach that combines both the spiritual and the physical dimensions of life. Thus, DZI provides funding for both spiritual and humanitarian activities while avoiding that which fosters foreign dependency. The primary goal of DZI is to support and encourage efforts that are basically training programs.

Organizational Structure:

Daybreak Zambia Inc (DZI) is registered as a 501c3 in accordance with the rules and regulations of the United States of America and the state of Tennessee. The Board of Directors oversee the distribution of funds and elects a President who executes the decisions and policies of the Board. DZI is registered with GuideStar and submits annual financial reports as required by law.

Financial Policy:

It is the policy of DZI to faithfully distribute funds in accordance with the expressed wishes of the donors. It is the responsibility of the President of DZI to ensure that contributions donated for a specific project are distributed to that project as stated by the donor unless fund are given without any such designation.

Daybreak Endowment Fund: Guidelines.

Since the purpose of DZI is to provide long-term funding for DMH in Zambia, DZI has approved the established an Endowment Fund (Daybreak Endowment Fund) and whatever other endowment funds are needed which will adhere to the following guidelines:

(1) Contributions donated to the Daybreak Endowment Fund will be invested with InFaith Community Foundation who will manage the endowment fund on behalf of DZI. DZI will be the recipients (beneficiaries) of these investments and will have authority to withdraw funds as deemed necessary in the future. Contributions will be invested in a mixture of stocks and bonds with a moderate to moderate-aggressive strategy.

(2) The board of DZI will serve as the Endowment Committee with the President of DZI serving as the Executor or Fund Adviser on behalf of the board (or Endowment Committee).

(3) Distribution Policy. There will be no distribution of endowment funds until such time as the DZI board determines that the funds are needed to provide adequate funding for DMH in Zambia. Although the DZI board may elect to change the amount distributed from the Endowment Fund in any given year, the distribution percentage under normal operations shall be 5%.

(4) The duties of the Endowment Committee are:

(a) To utilize DZI for the creation of the Endowment Fund and to create any additional funds that may be needed to fulfill specific requirements of the donors.

(b) To determine and fulfill procedures and policies for the soliciting, processing, and dispositions of grant requests in accordance with the requirements and limitations of the various funds.

(c) To establish policies and procedures for accepting or rejecting proposed gifts by donors.

(d) To determine the percentages or amounts to be distributed from the Endowment Funds and to approve the receipient(s) and programs to which the funds should be distributed.

(5) The duties of the Executor of the Endowment Fund are:

(a) To educate key audiences about the funds, promote the funds, and solicit donations in an appropriate manner.

(b) To publish a report once a year to the DZI board regarding new gifts received, investment returns earned by the fund, the size of the funds, details of specific grants given, a list of all grant requests and disposition of requests.

(c) To assist donors in the process of making gifts to the funds.

(d) To act as the designated advisor to DZI with respect to all operational matters (including requests for distribution from the funds) and to oversee the distribution of funds to the recipients and/or programs to which the DZI board has designated.

(6) DZI will monitor Daybreak: Mission of Hope (DMH) in Zambia so as to ensure that DMH is maintaining proper financial accountability and using the funds in a manner that is in keeping with the teachings of the Bible. DZI will monitor DMH to ensure that funds are not being misappropriated and that the ministry is not strayed away from the founding theological and philosophical principles of the organization.

(7) Option. Should DZI determine that funds are being mismanaged by DMH or that DMH has strayed from its founding principles, DZI will be responsible implement measures designed to encourage DMH to correct the problem. Should these efforts fail, then DZI will be free to terminate or restrict its financial support of DMH and use the endowment funds to support other worthy programs in Africa that are in keeping with the financial, theological, and philosophical principles of DZI. This decision should not, however, be taken without first make every effort possible to salvage the relationship with Daybreak: Mission of Hope in Zambia.

(8) Dissolution of DZI. In the event that the incorporated body known as DZI or its successor(s), cease to exist, then the DZI General Endowment Fund and the DZI Mission Growth Endowment Fund and all other funds which have been created over time that are held by DZI shall be allocated for the support of projects, programs, and activities of the Church of Christ as determined by the elders of the Sycamore View Church of Christ, unless otherwise stated by the DZI board prior to its disillusionment.