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					                                   2005-03-24 Executive Staff Meeting


1. CAMP MCPHERSON, OH #20204
Camp Director: Tom Krueger

PROJECT DESCRIPTION: Requesting permission to obtain an IFLF loan needed to payoff the existing loan and add
additional funds to assist with camp maintenance expenses

COST OF PROJECT:                     $70,000
AMOUNT OF LOAN:                      $90,000 ($20,000 existing loan + $70,000 new loan)
BANK:                                IFLF
CASH ON HAND:                        $0
PROPERTY VALUE:                      $1,000,450 (Insured value)

OUTSTANDING LOANS:                   7013361
   Original Loan Amount:             $20,000
   Current Balance:                  $20,000
   Accrued Interest:                 $300
   Origination date:                 04/29/2004
   Monthly payment:                  Interest only
   Additional pmts on principal?     No
   Payments on time?                 Line of credit matured 9/1/2004; interest only payments have been
                                     made consistently, but not on time. February and March are
                                     outstanding currently.

TERMS OF NEW LOAN:                   7%, amortized over 6 years, due in 6 years
NEW LOAN PAYMENT:                    $1,535
INSURANCE ACCOUNT CURRENT?           Yes
------------

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the unanimous vote of the camp directors of the CAMP MCPHERSON, OHIO #20204 Foursquare
Church having been received and the recommendation of the General Supervisor having been secured in accordance with
corporation Bylaws, that approval be granted to obtain a loan from the International Foursquare Loan Fund in the approximate
amount of Ninety Thousand Dollars ($90,000), at 7% interest, amortized over 6 years, due in 6 years, needed to payoff IFLF
loan #7013361 of approximately Twenty Thousand Dollars ($20,000) plus any accrued interest and add an additional amount of
Seventy Thousand Dollars ($70,000) to assist with camp maintenance expenses.

Voting Results
No Votes

-----------------

2. CORNELIUS, NC #30418
Farrell Lemings
Carolinas / Gary Clouse

Requesting $15,000 MMEF, to assist with interior finishing for the new church facility constructed at a cost of $6,600,000.

Missions - $5,413 (2.4% FCCR)     Tithe - $22,297 (10% FCCR)

-------------

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, that upon the recommendation of the Carolinas District Supervisor, an appropriation of Fifteen Thousand
Dollars ($15,000) be authorized from the McPherson Memorial Extension Fund to assist the CORNELIUS, NORTH
CAROLINA #30418 Foursquare Church with interior finishing of the newly constructed church facility.

Voting Results
No Votes
-----------------
3. LAFAYETTE, IN 31019
Jeffrey Lee
Northern Indiana / Dan Mundt

LENGTH OF PASTORATE:                      3 years
ATTENDANCE:                               35

PROJECT DESCRIPTION:                      Requesting permission to construct a new church facility.

COST OF PROJECT:                          $750,000 approximately
CASH ON HAND:                             $750,000 currently in building fund
OUTSTANDING LOANS:                        None

TITHABLE INCOME:                          $2,854 (10 months reported)
30% OF TITHABLE INCOME:                   $856
GROSS (TOTAL) INCOME:                     $8,994 (10 months reported)
30% OF GROSS INCOME:                      $2,698
MISSIONS:                                 $46 (1.3% FCCR)
TITHE:                                    $297 (8.7% FCCR)
INSURANCE ACCOUNT CURRENT?                Yes

------------

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the unanimous vote of the church membership present at a duly called meeting, the vote of the church
council of the LAFAYETTE, INDIANA #31019 Foursquare Church having been received and the recommendation of the
Northern Indiana District Supervisor having been secured in accordance with corporation Bylaws, that approval be granted to
construct a new church facility at a cost of approximately Seven Hundred Fifty Thousand Dollars ($750,000).

Voting Results
No Votes

-----------------
4. AUBURN SOUTH, WA #31177
Seattle District           Pastor: Doug Bursch
Supervisor: Jim Hayford

Requesting permission to lease approximately 5,700 square feet located at 4910 “A” Street SE to be used as a Community
Center/Ministry Center on a month to month basis beginning April 1, 2005 for $1,128 per month.

LENGTH OF PASTORATE: 5 years
ATTENDANCE: 127
RENT PAYMENT: $1,128 plus $1,062 for Sunday services = $2,190 total
TITHABLE MONTHLY INCOME: $11,739
30% OF INCOME: $3,522
MISSIONS: $5,416 (3.8%)
TITHE: $18,044 (12.8%)
INSURANCE ACCOUNT CURRENT: Yes
LEGAL DEPARTMENT: Yes

_________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the recommendation of the Seattle District Supervisor having been secured in accordance with corporation
Bylaws, that authorization be granted to lease approximately 5,700 square feet located at 4910 “A” Street SE to be used as a
Ministry Center/Community Center on a month to month basis beginning April 1, 2005 for One Thousand One Hundred
Twenty-Eight Dollars ($1,128) per month for use by the AUBURN SOUTH, WASHINGTON #31177 Foursquare Church.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott, Jr.,
Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

Voting Results
No Votes
-----------------

5. MIDLAND, MO #31228
Missouri District                            Pastor: Mike Masters
Supervisor: Mike Masters

Requesting permission to lease approximately 4,200 square feet located at 11130 Old St. Charles Road to St. Louis County,
Missouri to be used as an office for a period of 3 months beginning April 1, 2005 and ending June 30, 2005 for $4,025 per
month.

LENGTH OF PASTORATE: 13 years
ATTENDANCE: 150

RENT INCOME: $4,025
TITHABLE MONTHLY INCOME: $16,126
30% OF INCOME: $4,838
MISSIONS: $1,804 (0.9%)
TITHE: $20,702 (10.2%)
INSURANCE ACCOUNT CURRENT: Yes
LEGAL DEPARTMENT: Contingent upon agreement between our legal dept. and the Lessee’s attorney.

_________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the recommendation of the General Supervisor having been secured in accordance with corporation
Bylaws, that authorization be granted for MIDLAND, MISSOURI #31228 Foursquare Church to lease to St. Louis County,
Missouri approximately 4,200 square feet located at 11130 Old St. Charles Road to be used as an office for a period of three
months beginning April 1, 2005 and ending June 30, 2005 for Four Thousand Twenty-Five Dollars ($4,025) per month.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott, Jr.,
Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.
Voting Results
No Votes

-----------------

6. TEXAS CITY, TX #32633
South Texas District                        Pastor: Tim Franklin
Supervisor: Tony Krishack

Requesting permission to acknowledge a lease of a school facility located at 1200 Amburn Road to be used as a church facility
for a period of 12 months beginning June 1, 2004 and ending May 31, 2005 for $150 per week.

CHURCH PLANT

RENT PAYMENT: $600
TITHABLE MONTHLY INCOME: $0
30% OF INCOME: $0

MISSIONS: $0 (0%)
TITHE: $0 (0%)
INSURANCE ACCOUNT CURRENT: Yes
LEGAL DEPARTMENT: The agreement has an indemnity clause that violates board policy. However, because this is a
public school which has little incentive to negotiate, the legal department is recommending the agreement for approval.

_________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the recommendation of the South Texas District Supervisor having been secured in accordance with
corporation Bylaws, that authorization be granted to acknowledge a lease of a school facility located at 1200 Amburn Road to be
used as a church facility for a period of 12 months beginning June 1, 2004 and ending May 31, 2005 for One Hundred Fifty
Dollars ($150) per week for use by the TEXAS CITY, TEXAS #32633 Foursquare Church.
FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott, Jr.,
Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

Voting Results
No Votes

-----------------

7. LARAMIE, WY #31054
North Central District                               Pastor: John Welch
Supervisor: Stan Simmons

LENGTH OF PASTORATE: 4.5 years
ATTENDANCE: 149

PROJECT DESCRIPTION: Request permission to obtain a loan from IFLF to complete construction on new church facility.
The church now has to pay for labor that they thought would be done by volunteers.

COST OF PROJECT:                             $100,000
AMOUNT OF LOAN:                              $100,000
BANK:                                        IFLF
OUTSTANDING LOANS:                           #7014674 (First National Bank)
    Current Balance:                         $557,036 ($625,000 construction loan)
    Origination date:                        7/1/04
    Monthly pmt:                             Interest only
    Additional pmts on principal?            No
    Payments on time?                        Yes
TERMS OF NEW LOAN:                              7% fixed interest, with no payments until property is sold, then principal and
accrued interest paid off in full, due in 1 year.
NEW LOAN PAYMENT:                               $0
TITHABLE INCOME:                                $15,892
30% OF TITHABLE INCOME:                         $4,768
TOTAL INCOME:                                   $18,486
30% OF TOTAL INCOME:                        $5,546
MISSIONS:                                   $22,876 (10%)
TITHE:                                      $600 (0.3%)
INSURANCE ACCOUNT CURRENT?                  Yes

________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the two thirds majority vote of the church membership present at a duly called meeting, the vote of the
church council of the LARAMIE, WYOMING #31054 Foursquare Church having been received and the recommendation of
the North Central District Supervisor having been secured in accordance with corporation Bylaws, that approval be granted to
obtain a loan from the International Foursquare Loan Fund in the approximate amount of One Hundred Thousand Dollars
($100,000), at 7% interest fixed, with no interest or principal payments, due in one year, to be paid off with the proceeds from
the sale of property.

Voting Results
No Votes
-----------------

8. LUBBOCK SOUTH PLAINS, TX #31877
West Texas District                                 Pastor: Don Jackson
Supervisor: Tom Wymore

LENGTH OF PASTORATE: 9 months
ATTENDANCE: 105

PROJECT DESCRIPTION: Requesting IFLF loan to payoff 2 high interest church credit cards inherited by the pastor with
approximate total balance of $11,162, paving and striping parking lot for about $32,000, remodel church and day care facilities
for about $42,593.

COST OF PROJECT:                            $98,618
AMOUNT OF LOAN:                             $98,618
BANK:                                       IFLF
TERMS OF NEW LOAN:                         7% fixed interest, amortized for 20 years, due in 5 years
NEW LOAN PAYMENT:                          $765
TITHABLE INCOME:                           $9,971
30% OF TITHABLE INCOME:                    $2,991
TOTAL INCOME:                              $15,373
30% OF TOTOAL INCOME:                      $4,612
MISSIONS:                                  $2,050 (1.7%)
TITHE:                                     $10,457 (8.7%)
INSURANCE ACCOUNT CURRENT?                 Yes


__________

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the two thirds majority vote of the church membership present at a duly called meeting, the vote of the
church council of the LUBBOCK SOUTH PLAINS, TEXAS #31877 Foursquare Church having been received and the
recommendation of the West Texas District Supervisor having been secured in accordance with corporation Bylaws, that
approval be granted to obtain a loan from the International Foursquare Loan Fund in the approximate amount of Ninety-Eight
Thousand Six Hundred Eighteen Dollars ($98,618), at 7% interest fixed, amortized over 20 years, due in 5 years, with
approximately Eleven Thousand One Hundred Sixty-Two Dollars ($11,162) to be used to payoff two church credit cards,
approximately Thirty-Two Thousand Dollars ($32,000) to be used to pave and stripe the parking lot and approximately Forty-
Two Thousand Five Hundred Ninety-Three Dollars ($42,593) to be used to remodel the church and day care facilities.

Voting Results
No Votes

-----------------

9. WALLA WALLA, WA #32108
Inland Northwest District                  Pastor: David Reed
Supervisor: Joe Wittwer

LENGTH OF PASTORATE: 21 years
ATTENDANCE: 33
PROJECT DESCRIPTION: Requesting permission to obtain a loan to paint the church.

COST OF PROJECT:                          $6,000
AMOUNT OF LOAN:                           $6,000
BANK:                                     IFLF
OUTSTANDING LOANS:                        N/A
TERMS OF NEW LOAN:                        7% amortized for 5 years, due in 5 years
NEW LOAN PAYMENT:                         $120
TITHABLE INCOME:                          $1,374
30% OF TITHABLE INCOME:                   $412
TOTAL INCOME:                             $1,374
30% OF TOTAL INCOME:                      $412
MISSIONS:                                 $743 (4.5%)
TITHE:                                    $1,627 (9.9%)
INSURANCE ACCOUNT CURRENT?                Yes

________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the unanimous vote of the church membership present at a duly called meeting, the vote of the church
council of the WALLA WALLA, WASHINGTON #32108 Foursquare Church having been received and the
recommendation of the Inland Northwest District Supervisor having been secured in accordance with corporation Bylaws, that
approval be granted to obtain a loan from the International Foursquare Loan Fund in the approximate amount of Six Thousand
Dollars ($6,000), at 7% interest, amortized over 5 years, due in 5 years, needed to paint the church.

Voting Results
No Votes

-----------------

10. EAGLE CREEK, OR #30522
Mount Hood District                       Pastor: Kerry Flohr
Supervisor: Ted Roberts

LENGTH OF PASTORATE: 16 years
ATTENDANCE: 204

PROJECT DESCRIPTION: Request permission to obtain loan and build an addition onto their existing building.

COST OF PROJECT:                           $265,380
CASH ON HAND:                              $24,164 ($21,460 more pledged)
AMOUNT OF LOAN:                            $243,806 (existing loan) + $231,194 (construction) =$475,000
BANK:                                      US Bank
OUTSTANDING LOANS:                         #2052350013 (US Bank)
   Current Balance:                        $243,806
   Original Loan Amount:                   $264,474
   Origination date:                       12/12/1996
   Monthly pmt:                            $2,100
   Additional pmts on principal?           No
   Payments on time?                       Yes
TERMS OF NEW LOAN:                          Fixed interest of US Bank Cost plus 2.40% plus an up charge for no prepayment
penalty (today 6.88%), amortized for 20 years, due in 5 years.
NEW LOAN PAYMENT:                           $3,649
TITHABLE INCOME:                            $24,585
30% OF TITHABLE INCOME:                     $7,376
TOTAL INCOME:                               $32,790
30% OF TOTOAL INCOME:                       $9,837
MISSIONS:                                   $172 (0.1%)
TITHE:                                      $24,016 (8.6%)
INSURANCE ACCOUNT CURRENT? Yes

________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the two thirds majority vote of the church membership present at a duly called meeting, the vote of the
church council of the EAGLE CREEK, OREGON, #30522 Foursquare Church having been received and the
recommendation of the Mount Hood District Supervisor having been secured in accordance with corporation Bylaws, that
approval be granted to build an addition to present facilities, located at 31105 SE Eagle Cliff Lane, at a cost of Two Hundred
Sixty-Five Thousand Three Hundred Eighty Dollars ($265,380) and that approval be granted to obtain a loan from US Bank of
up to Four Hundred Seventy-Five Thousand Dollars ($475,000) with interest only during construction, with a maximum
construction period of 6 months to be converted to a term loan with fixed interest at US Bank Cost plus 2.40% plus an up charge
for no prepayment penalty, amortized over 20 years, due in 5 years,to assist with aforesaid construction and payoff loan
#2052350013 with US Bank of approximately Two Hundred Forty-Three Thousand Eight Hundred Six Dollars ($243,806), said
loan to be secured by a mortgage or deed of trust on the following described property:

      Part of the John B. Chiles Donation Land Claim in Township 3 South, Range 4 East of the Willamette Meridian in the County of
      Clackamas and State of Oregon, described as follows: Beginning at a point on the East line of said Chiles Donation Land Claim,
      which point in North 1056.43 feet from the Southwest corner of the J. Tuttle Donation Land Claim; thence West 1308.1 more or less,
      to an I.P. on the highway right of way; thence Northerly along said highway right of way to the bluff on the South side of Eagle
      Creek; thence Easterly along said bluff 80 rods more or less to a point on the East line of said Chiles Donation Land Claim, which
      point is 2 rods South of the Northeast corner thereof; thence South along the East line of said Donation Land Claim to the place of
      beginning. EXCEPT a strip of land lying North of South boundary and East of highway right of way 100 feet wide and 678.1 feet
      long, more fully described in Warranty Deed recorded March 20, 1972, Fee No. 72-7361.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott, Jr.,
Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

Voting Results
No Votes
-----------------

11. IDAHO FALLS, ID #30894
Mountain River District                                   Pastor: Theone Maupin
Supervisor: Theone Maupin

Requesting $4,000 MMEF, to assist with purchase of sound system for newly completed remodel of church sanctuary at a cost
of 77,000.

Missions - $2,707 (1.1%)         Tithe - $24,457 (9.8%)
________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, that upon the recommendation of the General Supervisor, an appropriation of Four Thousand Dollars
($4,000) be authorized from the McPherson Memorial Extension Fund to assist the IDAHO FALLS, IDAHO #30894
Foursquare Church with the purchase of a sound system.

Voting Results
No Votes
-----------------

12. TUCSON FIRST, AZ #32035
Arizona          Temp Closed

PROPERTY TO BE SOLD: Requesting permission to sell the church facilities. The property is in poor condition and it would
cost more to refurbish it.

LOCATION: 431 N. Plumer Ave.
SALE PRICE: $215,000
APPRAISAL AMOUNT: $204,750
OUTSTANDING LOANS: None

TERMS OF SALE: Cash
INSURANCE ACCOUNT CURRENT? Delinquent ($5,702)
PROCEEDS: After closing costs and fees, to pay off the insurance account balance of approximately $5,702, place $50,000 in
the District’s Emergency Fund, with the remaining balance to be placed in the District’s IFLF savings account for future
property needs for the District.

-----

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, having been received and the recommendation of the Arizona District Supervisor, having been secured in
accordance with corporation Bylaws, that approval be granted the TUCSON FIRST, ARIZONA #32035 Foursquare Church
to sell the following legally described church facilities located at 431 N. Plumer Avenue for a minimum price of Two Hundred
Fifteen Thousand Dollars ($215,000):

        Lots 19 and 20 in Block 21 of the Fairmont Addition to the City of Tucson, Pima County, Arizona, according to the map or plat
        thereof of record in the office of the County Recorder of Pima County, Arizona, in Bood 4 of Maps and Plats, at Page 32 thereof.

        Subject to restrictions, reservations and easements of record.


FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott, Jr.,
Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

FURTHER RESOLVED: Proceeds, after closing costs and fees, are to be used to pay off the existing insurance account
balance of approximately Five Thousand Seven Hundred Two Dollars ($5,702), Fifty Thousand Dollars ($50,000) to be placed
into the Arizona District Emergency Fund, with the remaining balance to be placed into the Arizona District IFLF savings
account for future property needs for the district.

Voting Results
No Votes
-----------------

13. SALE BRIGHTON, CO #30232
Mile High District                                         Pastor: Nico Kay
Supervisor: Sam Rockwell

LENGTH OF PASTORATE: 1 year
ATTENDANCE: 51

PROJECT DESCRIPTION:                   Request permission to sell property located at 347 South 8th Avenue not being used anymore
                                       by the church.

PROPERTY TO BE SOLD: Former Brighton Spanish church property given to the church by the District Supervisor when the
Brighton Spanish church closed.
LOCATION: 347 South 8th Avenue
SALE PRICE: $69,000
APPRAISAL AMOUNT: $75,000
TERMS OF SALE: Cash at closing
MISSIONS: $1,770 (3.6%)
TITHE: $5,169 (10.5%)
INSURANCE ACCOUNT CURRENT: Yes

PROCEEDS: After closing costs and fees, $5,000 to be sent to the church to reimburse their general fund for sale preparation
expenses and the balance placed in an IFLF savings account for future property needs of the church.

________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the two thirds majority vote of the church membership present at a duly called meeting, the vote of the
church council of the BRIGHTON, COLORADO, #30232 Foursquare Church having been received and the
recommendation of the Mile High District Supervisor having been secured in accordance with corporation Bylaws, that approval
be granted to sell the following legally described church facility located at 347 South 8th Avenue for a minimum price of Sixty-
Nine Thousand Dollars ($69,000):

     Lot 34, Haas Subdivision of Block 39, Brighton Gardens, City of Brighton, Adams County, Colorado.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott,
Jr., Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

FURTHER RESOLVED: Proceeds, after closing costs and fees, are to be used to reimburse the church for pre-sale expenses of
Five Thousand Dollars ($5,000), with the balance to be placed in an IFLF savings account for future property needs for the
church.

Voting Results
No Votes
-----------------

14. LARAMIE, WY #31054
North Central District                             Pastor: John Welch
Supervisor: Stan Simmons

LENGTH OF PASTORATE: 4.5 years
ATTENDANCE: 149

PROJECT DESCRIPTION:             Request permission to sell a 5 acre lot for no less than $55,000 cash.

PROPERTY TO BE SOLD:                       Vacant land
LOCATION:                                  Lot 1 located at 4700 E Skyline Drive
SALE PRICE:                                $55,000
APPRAISAL AMOUNT:                          $24,038 (based on purchase price of property in 9/2003
OUTSTANDING LOANS:                         #7014674 (First National Bank)
   Current Balance:                        $484,415
   Origination date:                       7/1/04
   Monthly pmt:                            $Interest only
   Additional pmts on principal?           No
   Payments on time?                       Yes
TERMS OF SALE:                             Cash at closing
MISSIONS:                                  $22,876 (10%)
TITHE:                                     $600 (0.3%)
INSURANCE ACCOUNT CURRENT?                 Yes

PROCEEDS: After closing costs, proceeds will be used to pay off IFLF bridge loan, with balance returned to the church to help
with construction of new facility.

________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the two thirds majority vote of the church membership present at a duly called meeting, the vote of the
church council of the LARAMIE, WYOMING, #31054 Foursquare Church having been received and the recommendation
of the North Central District Supervisor having been secured in accordance with corporation Bylaws, that approval be granted to
sell the following legally described vacant land located at 4700 E. Skyline Drive for a minimum price of Fifty Five Thousand
Dollars ($55,000):

    Lot 1 in Harvest Acres, City of Laramie, Albany County, Wyoming, located in Section 12, Township 15 North, Range 73 West of the Sixth Principal
    Meridian, Albany County, Wyoming.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott,
Jr., Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

FURTHER RESOLVED: Proceeds, after closing costs and fees, are to be used to pay on the new International Foursquare
Loan Fund loan of approximately One Hundred Thousand Dollars ($100,000), with the balance to be returned to the church to
help with their construction project.

Voting Results
No Votes
-----------------

15. LARAMIE, WY #31054
North Central District                                       Pastor: John Welch
Supervisor: Stan Simmons

LENGTH OF PASTORATE: 4.5 years
ATTENDANCE: 149

PROJECT DESCRIPTION:                    Request permission to sell a 5 acre lot for no less than $55,000 cash.

PROPERTY TO BE SOLD:                                Vacant land
LOCATION:                                           Lot 2 located at 4700 E Skyline Drive
SALE PRICE:                                         $55,000
APPRAISAL AMOUNT:                                   $24,038 (based on purchase price of property in 9/2003
OUTSTANDING LOANS:                                  #7014674 (First National Bank)
   Current Balance:                                $484,415
   Origination date:                               7/1/04
   Monthly pmt:                                    $Interest only
   Additional pmts on principal?                   No
   Payments on time?                               Yes
TERMS OF SALE:                                     Cash at closing
MISSIONS:                                          $22,876 (10%)
TITHE:                                             $600 (0.3%)
INSURANCE ACCOUNT CURRENT?                         Yes

PROCEEDS: After closing costs, proceeds will be used to pay off IFLF bridge loan, with balance returned to the church to help
with construction of new facility.

________


RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the two thirds majority vote of the church membership present at a duly called meeting, the vote of the
church council of the LARAMIE, WYOMING, #31054 Foursquare Church having been received and the recommendation
of the North Central District Supervisor having been secured in accordance with corporation Bylaws, that approval be granted to
sell the following legally described vacant land located at 4700 E. Skyline Drive for a minimum price of Fifty Five Thousand
Dollars ($55,000):

   Lot 2 in Harvest Acres, City of Laramie, Albany County, Wyoming, located in Section 12, Township 15 North, Range 73 West of the Sixth Principal
   Meridian, Albany County, Wyoming.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott,
Jr., Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

FURTHER RESOLVED: Proceeds, after closing costs and fees, are to be used to pay on the new International Foursquare
Loan Fund loan of approximately One Hundred Thousand Dollars ($100,000), with the balance to be returned to the church to
help with their construction project.

Voting Results
No Votes
-----------------

16. LARAMIE, WY #31054
North Central District                             Pastor: John Welch
Supervisor: Stan Simmons

LENGTH OF PASTORATE: 4.5 years
ATTENDANCE: 149

PROJECT DESCRIPTION:             Request permission to sell a 5 acre lot for no less than $55,000 cash.

PROPERTY TO BE SOLD:                       Vacant land
LOCATION:                                  Lot 3 located at 4700 E Skyline Drive
SALE PRICE:                                $55,000
APPRAISAL AMOUNT:                          $24,038 (based on purchase price of property in 9/2003
OUTSTANDING LOANS:                         #7014674 (First National Bank)
   Current Balance:                        $484,415
   Origination date:                       7/1/04
   Monthly pmt:                            $Interest only
   Additional pmts on principal?           No
   Payments on time?                       Yes
TERMS OF SALE:                             Cash at closing
MISSIONS:                                  $22,876 (10%)
TITHE:                                     $600 (0.3%)
INSURANCE ACCOUNT CURRENT?                 Yes

PROCEEDS: After closing costs, proceeds will be used to pay off IFLF bridge loan, with balance returned to the church to help
with construction of new facility.

________
RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the two thirds majority vote of the church membership present at a duly called meeting, the vote of the
church council of the LARAMIE, WYOMING, #31054 Foursquare Church having been received and the recommendation
of the North Central District Supervisor having been secured in accordance with corporation Bylaws, that approval be granted to
sell the following legally described vacant land located at 4700 E. Skyline Drive for a minimum price of Fifty Five Thousand
Dollars ($55,000):

    Lot 3 in Harvest Acres, City of Laramie, Albany County, Wyoming, located in Section 12, Township 15 North, Range 73 West of the Sixth Principal
    Meridian, Albany County, Wyoming.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott,
Jr., Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

FURTHER RESOLVED: Proceeds, after closing costs and fees, are to be used to pay on the new International Foursquare
Loan Fund loan of approximately One Hundred Thousand Dollars ($100,000), with the balance to be returned to the church to
help with their construction project.

Voting Results
No Votes
-----------------

17. SOUTHLAKE, TX #30593
Northeast Texas District                            Pastor: Eric Hulet
Supervisor: Kim Pitner

LENGTH OF PASTORATE: 14 ½ years
ATTENDANCE: 274

PROJECT DESCRIPTION:                    Requesting permission to sell property.

PROPERTY TO BE SOLD: Duplex
LOCATION: 111 Glade Shadow
SALE PRICE: $92,700
APPRAISAL AMOUNT: $89,900

OUTSTANDING LOANS: 2061930047
   Current Balance: $38,709.87
   Origination Date: 3/22/1999
   Additional pmts on principal: No
   Payments on time: No

OUTSTANDING LOANS: 7009831
   Current Balance: $1,674,064.54
   Origination Date: 06/06/2003
   Additional pmts on principal: No
   Payments on time: No

OUTSTANDING LOANS: 7011977
   Current Balance: $470,734.98
   Origination Date: 11/05/2003
   Additional pmts on principal: No
   Payments on time: No

TERMS OF SALE: Cash
MISSIONS: $6,182 (1.1%)
TITHE: $49,065 (9.0%)
INSURANCE ACCOUNT CURRENT: Yes

PROCEEDS: After closing costs and fees, to pay loan #2061930047 of $38,709.87 with the balance sent to the church for the
purpose of replenishing operating funds of approximately $4,000 used to prepare the duplex for the sale, for several maintenance
items on the structure and site of the church facility and adjacent lot of approximately $10,000, and capital for the expansion of
our existing child care program which includes repairs to the building as regular maintenance, upgrades to classrooms, exit
doors, playground equipment, upgrade of kitchen, curriculum and supplies, computer and miscellaneous office furniture and
supplies, advertising and promotion toward a fall opening date of approximately $20,000.

________
RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the unanimous vote of the church membership present at a duly called meeting, the vote of the church
council of the SOUTHLAKE, TEXAS #30593 Foursquare Church having been received and the recommendation of the
Seattle District Supervisor having been secured in accordance with corporation Bylaws, that approval be granted to sell the
following legally described duplex located at 111 Glade Shadow for a minimum price of Ninety-Two Thousand Seven Hundred
Dollars ($92,700):

    Lot 21, Block 4, Northgate Phase II, City of Euless, Tarrant County, Texas.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott, Jr.,
Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

FURTHER RESOLVED: Proceeds, after closing costs and fees, are to be used to pay on existing loan #2061930047 of
approximately Thirty-Eight Thousand Seven Hundred Ten Dollars ($38,710), with the balance to be sent to the church for the
purpose of replenishing operating funds of approximately Four Thousand Dollars ($4,000) used to prepare the duplex for the
sale, for several maintenance items on the structure and site of the church facility and adjacent lot of approximately Ten
Thousand Dollars ($10,000), and capital for the expansion of the existing child care program which includes repairs to the
building as regular maintenance, upgrades to classrooms, exit doors, playground equipment, upgrade of kitchen, curriculum and
supplies, computer and miscellaneous office furniture and supplies, advertising and promotion toward a fall opening date of
approximately Twenty Thousand Dollars ($20,000).

Voting Results
No Votes
-----------------

18. ST. PETERSBURG, FL #31916
Joe Van Koevering
Florida / General Supervisor

On February 12, 2004, the Executive Staff granted permission to obtain an IFLF Loan for $245,000, at 7% interest, with interest
and principal due in 6 months, needed to payoff an existing lien on a property that was scheduled to close.
On July 29, 2004, the Executive Staff granted permission to refinance the existing loan of $241,205, and add an additional
$60,000, totaling approximately $301,205, at 7% interest, with interest and principal due in 6 months, as the property had not
yet sold. The additional money was needed for repairs to the church facility.

At this time, the church is requesting to extend the loan for an additional twelve months, with interest only payments at IBOR +
1.75% (currently 6.25%) due in 12 months, as the property has still not sold, but is under contract. Monthly payments will be
approximately $1,668.

OUTSTANDING LOANS:                          7012579         7011571
   Original Loan Amount:                    $241,205        $1,200,000
   Current Balance:                         $301,205        $715,704.48
   Accrued Interest:                        $18,960.08      $1,615.31
   Origination date:                        02/12/2004      11/12/2003
   Monthly payment:                         Interest only   $5,452.54
   Additional pmts on principal?            No              No
   Payments on time?                        Yes             Yes

TERMS OF NEW LOAN:                          Interest only at IBOR + 1.75% (currently 6.25%), due
                                            in 12 months
NEW LOAN PAYMENT:                           $1,668 interest only payment; principal and interest
                                            due upon maturity
TITHABLE INCOME:                            $27,112
30% OF TITHABLE INCOME:                     $8,134
GROSS (TOTAL) INCOME:                       $52,755
30% OF GROSS INCOME:                        $15,827
MISSIONS:                                   $572 (2.1% FCCR)
TITHE:                                      $2,814 (10.4% FCCR)
INSURANCE ACCOUNT CURRENT?                  Yes
-------------

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, recommendation of the General Supervisor having been secured in accordance with corporation Bylaws,
that approval be granted to extend the due date on IFLF loan #7012579 of approximately Three Hundred Twenty Thousand One
Hundred Sixty Five Dollars ($320,165) for an additional twelve months, with interest only payments at IBOR + 1.75%, on
behalf of the ST. PETERSBURG, FLORIDA #31916 Foursquare Church.
Voting Results
No Votes
-----------------

19. WESTMINSTER, MA #32168
Tom Morin
Southern New England / John Hatcher

WESTMINSTER, MA #32168
Tom Morin
Southern New England / John Hatcher

LENGTH OF PASTORATE:                      19 years
ATTENDANCE:                               329

PROJECT DESCRIPTION: Requesting permission to refinance an existing IFLF loan and add additional funds to assist with
needed structural improvements to the church property

COST OF PROJECT:                          $80,000
AMOUNT OF LOAN:                           $203,542 (existing loan) + $80,000 (new loan)
= $283,542
BANK:                                     IFLF
CASH ON HAND:                             $0
PROPERTY VALUE:                           $500,000 approximate

OUTSTANDING LOANS:                        7011901
    Original Loan Amount:                 $200,075.43
    Current Balance:                      $192,272.42
    Accrued Interest:                     $11,269.21
    Origination date:                     12/04/2003
    Monthly payment:                      $2,323
    Additional pmts on principal?         No
    Payments on time?
    Loan matured 6/10/2004; no payments have been received since 7/30/04
TERMS OF NEW LOAN:                        7%, amortized over 20 years, due in 20 years
NEW LOAN PAYMENT:                         $2,198
TITHABLE INCOME:                          $38,826 (8 months reported)
30% OF TITHABLE INCOME:                   $11,648
GROSS (TOTAL) INCOME:                     $40,336 (8 months reported)
30% OF GROSS INCOME:                      $12,101
MISSIONS:                                 $33    (0.1% FCCR)
TITHE:                                    $3,173 (8.2% FCCR)
INSURANCE ACCOUNT CURRENT?                Yes

A letter of commitment has been requested; however, the District fully supports this decision and feels the church has been
making healthy steps all around.

-----------

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the unanimous vote of the church membership present at a duly called meeting, the vote of the church
council of the WESTMINSTER, MASSACHUSETTS #32168 Foursquare Church having been received and the
recommendation of the Southern New England District Supervisor having been secured in accordance with corporation Bylaws,
that approval be granted to obtain a loan from the International Foursquare Loan Fund in the approximate amount of Two
Hundred Eighty Three Thousand Five Hundred Forty Two Dollars ($283,542), at 7% interest, amortized over 20 years, due in
20 years, needed to refinance existing IFLF loan #7011901 of approximately One Hundred Ninety Two Thousand Two
Hundred Seventy Two Dollars ($192,272) plus any accrued interest and add an additional amount of approximately Eighty
Thousand Dollars ($80,000) to assist with structural improvements of the church facility.

Voting Results
No Votes

-----------------

20. LOS ANGELES-LOS FELIZ, CA #31141
LA Northeast Valleys Pastor Daniel LeSante
Requesting permission to lease the premises located at 3063 Los Feliz Blvd. to be used as church facilities for a period of 5
years beginning October 15, 2004 and ending October 14, 2009 for $1,750 per month for the 1st year; $1,800 per month for the
2nd year; $1,850 per month for the 3rd year; $1,900 per month for the 4th year and $1,950 per month for the 5th year.

Average Attendance: 90

RENT PAYMENT:                        $1,750 per month 10/15/04 – 10/14/05
                                     $1,800 per month 10/15/05 – 10/14/06
                                     $1,850 per month 10/15/06 – 10/14/07
                                     $1,900 per month 10/18/07 – 10/14/08
                                     $1,950 per month 10/15/08 – 10/14/09

TITHABLE INCOME:        $6,660
30% OF TITHABLE INCOME: $1,998
GROSS (TOTAL) INCOME:   $8,259
30% OF GROSS INCOME:    $2,478
MISSIONS:               $200 (FCCR- 0.3%)
TITHE:                  $7,366 (FCCR- 9.3%)
INSURANCE ACCOUNT CURRENT? Yes

The Legal Department has approved this lease.
-----

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the recommendation of the LA Northeast Valleys District Supervisor having been secured in accordance
with corporation Bylaws, that authorization be granted to lease the premises located at 3063 Los Feliz Blvd. to be used as church
facilities for a period of five years beginning October 15, 2004 and ending October 14, 2009 for One Thousand Seven Hundred
Fifty Dollars ($1,750) per month for the 1st year; One Thousand Eight Hundred Dollars ($1,800) per month for the 2nd year; One
Thousand Eight Hundred Fifty Dollars ($1,850) per month for the 3rd year; One Thousand Nine Hundred Dollars ($1,900) per
month for the 4th year and One Thousand Nine Hundred Fifty Dollars ($1,950) per month for the 5th year for use by the LOS
ANGELES-LOS FELIZ, CALIFORNIA #31141 Foursquare Church.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott, Jr.,
Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.

Voting Results
No Votes
-----------------


21. SAN JOSE #3, CA #31766
General Supervisor       Pastor Al Soto

Requesting permission to lease out approximately 15,000 square feet of the church premises located at 133 Bernal Rd. to be
used as office and engineering and all related uses for a period of 3 months beginning February 1, 2005 and ending April 30,
2005 for $17,187 per month.

The church purchased this property with the agreement that the seller (Arnold Industries dba Neutronix) would lease it back for
3 months while relocating.

RENT PAYMENT: $17,187

The Legal Department has approved this lease.
-----

RESOLVED: By the Executive Staff Committee of the Board of Directors of International Church of the Foursquare Gospel, a
religious corporation, the recommendation of the General Supervisor having been secured in accordance with corporation
Bylaws, that authorization be granted the SAN JOSE #3, CALIFORNIA #31766 Foursquare Church to lease out
approximately 15,000 square feet of the church premises located at 133 Bernal Rd. to be used as office and engineering and all
related uses for a period of three months beginning February 1, 2005 and ending April 30, 2005 for Seventeen Thousand One
Hundred Eighty Seven Dollars ($17,187) per month for use by Arnold Industries dba Neutronix.

FURTHER RESOLVED: That any two of the following individuals acting together, are hereby authorized to sign on behalf of
and in name of aforesaid Corporation and under its corporate seal all instruments necessary to provide for purchase, sale, loan,
easement, lease or other real property transactions: Jack W. Hayford, Glenn C. Burris, Jr., Michael P. Larkin, James C. Scott, Jr.,
Sterling Brackett, Arthur J. Gray, II, Jeffrey L. Bird, Lynda J. Gupton, David Mee, Adam Davidson.
Voting Results
No Votes
-----------------

				
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