about the trust

20 years of impact.

Mr. Clark Funk endeavored to continue his philanthropic legacy after his death by creating the Montaner Charitable Trust which is intended to last for 20 years.

Heritage Trust Company of New Mexico is the trustee and thus administers the Montaner Charitable Trust established by Mr. Funk’s Last Will and Testament.

To this end, the Will instructs Heritage Trust each year to calculate: (a) Montaner Charitable Trust’s total net income for the prior calendar year; and (2) the total amount of principal in Montaner Charitable Trust as of January 1 of each year. Montaner Charitable Trust will disclose these calculations in writing to the beneficiaries. Payments of income will generally be made to beneficiaries in equal quarterly installments. Payments of principal will generally be made to beneficiaries annually at the end of the calendar year. Thus, each beneficiary should receive a total of five (5) payments annually, which collectively will constitute the Distribution Budget. Please note that Heritage Trust reserves the right to change the amount or timing of the Distribution Budget as provided in the Will.

what to expect in 2022

As conditions allow and at the discretion of the beneficiary, meetings will be scheduled with the Montaner Charitable Trust liaison. Otherwise, checks will be mailed and meetings will be held by Zoom or phone.

2020 - 2040

In January of each year, Montaner Charitable Trust will determine and announce the Distribution Budget in writing. Thereafter, distributions may be made to qualifying beneficiaries who have successfully requested a distribution through the Distribution Request Application [link here].

A beneficiary’s successful application includes filing an annual report with Montaner Charitable Trust detailing how it spent its share of the Distribution Budget for the prior year (which may require receipts, proof of multiple bids, etc.)

Beneficiaries may use their distributions for core support needs, including, but not limited to, capital improvements; professional support; educational staff; communication efforts; and outreach programs. In the event a beneficiary has the extraordinary need for financial support, a discretionary request may be submitted to Montaner Charitable Trust which will be evaluated on a case-by-case basis.

Remaining a Qualified Beneficiary

Beneficiaries must remain a non-profit under the Internal Revenue Code to qualify for distributions and submit.

Beneficiaries must successfully submit a distribution request application, with respect to instructions and deadlines determined by Montaner Charitable Trust.

Additionally, before submitting any new request for distributions, beneficiaries must file an annual report with Montaner Charitable Trust detailing how previous distributions were spent (which may require receipts, proof of bids, etc.); and provide a summary what the perceived impact to mission and the community has been.

Beneficiaries should understand that all distributions from Montaner Charitable Trust are subject to the approval of Heritage Trust and nothing in this commitment standard should be construed to limit that ability or the exercise of discretion.