Skip Navigation

 
 
This table is used for column layout.
ALT
Citizen Requests
E-Subscriber

 
Find more about Weather in Enfield, NH
 
Trustees of Trust Funds
Contact TypeContact Information
Address:
PO Box 373
Trust Suite 14
Enfield, NH 03748
Phone:
(603) 632-5026
Meetings:
As posted
Whitney Hall Conference Room
23 Main Street
 
Additional Links:
Link to PageLink to Page
Enfield Trustees of Trust Funds - Overview
The Enfield Trustees of Trust Funds have fiduciary responsibilities for managing charitable trusts as well as capital reserve funds directed toward purposes that benefit Enfield citizens.
The Trustees
The Trustees of Trust Funds are volunteer citizens who serve in a fiduciary capacity on behalf of the citizens of the Town to manage the money entrusted to them.    Trustees are elected to serve three year term on a rotating basis.  Current trustees are:  

John Carr, Chairman
Ellen Hackeman, Treasurer
Cynthia Hollis, Secretary

Contact Information:    
Enfield Trustees of Trust Funds
PO Box 373, trust suite 14
Enfield, NH  03748
Trustees Responsibilities:
  • Invest the money in the trust and capital reserve funds.
  • Ensure the provisions of the documents establishing the trusts and CRF are met.
  • Invest the funds according to the trustee investment policy and state of  NH statutes for RSA 31:22 through 31:25 for trusts and RSAs relating to capital reserves.
  • Distribute trust income and principal according to trust documents each January.
  • Prepare and submit annual MS-9 and MS-10 reports to the Town and State of NH.
  • Approve an investment policy for the trust funds annually.
  • Provide a quarterly report to the selectmen.
  • Record deposits and disburse funds for expendable trusts per the agents to expend.
  • Deposit and disburse funds for capital reserve funds annually.
  • Meet at least quarterly to review investments and reports.  Meeting dates are posted in advance at the town office and on this website.
Trust Funds

Charitable trust funds are established by private citizens for specific purposes.  There are approximately eighty-six trust and capital reserve funds managed by the Trustees.  The town selectmen must review and accept the terms of the trusts prior to the trustees establishing the trust.  The town report provides details of each trust and distributions made.  Distributions are based on income from prior year.  There are two basic types of trusts:
  • Charitable trusts that expend a portion, or all, interest accrued annually to specific purposes as defined by the trust instrument.  The principal is invested and only the annual income is disbursed each January according to the terms of the trust.  There are currently 68 charitable trusts.  The oldest being established in 1891 and the most recent established in 2005.  Cemetery trusts are usually for purposes of care of specific lots.   There is approximately $300,000 invested in charitable trusts.
  • Expendable trusts are funded by private donations and can be expended in full or in part for the purposes defined by the trust fund.  Expenditures can occur at any time during the year and are based on requests from the agent to expend.  There was nearly $20,000 invested in expendable trusts at the end of 2012.  The current expendable trusts are:
  • Cemetery Maintenance, established in 1998 and funded by the sale of cemetery lots and expended as directed by the cemetery trustees
  • Veterans Memorial Park, established in 2003.
  • Fuel Assistance, established in 2008 for providing fuel assistance to the needy.
  • Trail Fund, established in 2011 for providing maps and trail maintenance.
Capital Reserve Funds
Capital reserve funds (CRFs) are investments established for specific Town of Enfield capital project purposes, usually by a vote at the annual town meeting and naming the agents to expend. These funds are usually expended by a similar vote that explicitly directs spending the funds for the previously-voted purpose.  Funds can be disbursed based on a vote at town meeting, or by a majority vote of the agents to expend.  Transactions approved by vote at the town meeting do not actually occur until the end of the year.
The oldest capital reserve fund is the Municipal Facilities Maintenance fund, established in 1967.  

Frequently Asked Questions
Q:      How do trustees serve?
A:      The trustees are elected to serve in a fiduciary capacity on the behalf of the citizens of the Town of Enfield.
Q:      Who supervises the Trustees?
A:      The NH Attorney General's office at the Department of Justice in Concord, NH, supervises trustees throughout the State of New Hampshire. Specifically, the Charitable Trusts Unit in Concord is most familiar with the NH trust funds in each community. The town manager and budget committee work with the trustees to ensure funds will be available based on projected needs.
Q:      Are the Trustees Meetings open to the public?
A:      The Trustee Meetings are open to the public and usually held at Whitney Hall.  Warnings are posted in advance at Whitney Hall.
Q:      How do I contact the trustees?
A:      Please contact the town if you have questions concerning trusts or capital reserve funds.
         The town may be able to answer your questions or will refer to trustees as needed.

 
 
Town of Enfield, NH
23 Main Street, Enfield, NH 03748