Safeguarding the assets of trust beneficiaries is a primary concern of The Arc Master Trust.
Trust funds are safely and securely on deposit with The National Bank of Indianapolis, and a trust advisory committee and The Arc of Indiana board of directors provides advice and oversight of The Arc Master Trust.
The following safeguards are in place to assure all transactions regarding individual trust accounts are transparent and processed using strict accounting procedures:
- Disbursement requests are entered into The Arc Master Trust data system by a trust staff person
- Separate checkpoints are utilized to process disbursements from trust accounts
- Requests are verified with the appropriate key people for the beneficiary
- Requests are reviewed and approved/declined by the trust director, or in her absence The Arc Master Trust assistant director or The Arc of Indiana CEO.
- Two signatures are required for any check over $3,000
- Disbursement checks are reconciled by the The Arc of Indiana chief finance officer
- The Arc maintains full liability insurance and a crime/dishonesty bond
- The Arc Master Trust’s trust account software allows individual trust accounts to be reviewed online through a password protected portal on our website. Key people of trust beneficiaries and beneficiaries themselves can view activity related to their trust account 24 hours a day, 7 days a week.
In addition, an independent CPA firm audit is completed each year for The Arc of Indiana, which includes examination of trust accounts and interviews with trust staff. The Arc of Indiana’s Form 990, Return of Organization Exempt From Income Tax, will be provided at any time upon request.
The Arc of Indiana board of directors, trust advisory committee, staff and The National Bank of Indianapolis takes the integrity of The Arc Master Trust and stewardship of trust funds very seriously. We welcome any questions you may have and will gladly share any information that you may need as a current or prospective member of The Arc Master Trust.