Together Fred and I drafted a "mission and ministry fund agreement". The agreement stated that Fred would leave a bequest to the Moravian Ministries Foundation and we would then act as Trustee, investing the bequest and making annual distributions from the permanent fund to the ministries Fred identified.
Fred passed away in November 2009 and left almost $670,000 to the Betty and Fred Masten Mission and Ministry Fund, which now and forever aids Home Church, Laurel Ridge, the Southern Province's Pastoral Care and Education Fund, Salem Congregation for God's Acre, and Freds' parents' church in the North Carolina mountains. At the end of 2012, the Fund was valued at almost $750,000, which meant that $37,500 was distributed in 2013. In the three short years since the Fund was invested, over $100,000 has been paid to the ministries in honor of Fred and Betty. We know Fred would be pleased.