Greetings in Christ, our Risen Lord,

On behalf of the entire LCCA-MS Wendland Scholarship Fund Committee I, Rev. George Chumba would like to submit the following report on how we have distributed the funds in 2024-2025 academic year.

We had an opening balance of $1,204.35 in our Dollar Account and Mk233,680.35 in Kwacha Account. This Year we received $3,985.00 (of $4,000 total amount you sent us) making it a total of $5,189.35 in Dollar account.

We received and approved 38 applications. Therefore, at first, we transferred $4,000 from Dollar to Kwacha Account at an exchange rate of 1: 1,751 (giving us

Mk7,004,000.00), that we had Mk7,237,680.35 in our Kwacha Account. We withdrew Mk6,500,000.00 that we distributed to 32 students who by then were ready to receive, and we had bank charges of Mk19,826.80 (equivalent to $11.32) from Kwacha Account. After that we transferred $500 from Dollar Account at the rate of 1:1,716.66 that gave us Mk858,333.35, and we had bank charges of Mk66,110.00 (equivalent to $38.51). These charges include for counter cheque, cheque book, and account maintenance. And we withdrew Mk1,200,000.00 that we distributed to the 6 remaining students.

In short we had $5,189.35 in our Dollar account and we transferred $4,500 to Kwacha Account that we had Mk8,096,013.7, including the opening balance of Mk233,680.35. We withdrew Mk7,700,000.00 with the charges of Mk86,336.80 (equivalent to $49.30), and we distributed Mk7,600,000.00 to 38 students, Mk200,000.00 (equivalent to

$

114.22) each and Mk100,000.00 (which is equivalent to $57.11) was for transport and

communication. Therefore, we are remaining with $689.35 in our Dollar Account and Mk309,676.90 in our Kwacha Account. See the bank statements attached for reference.

Below is the summary of both accounts as well as the list of names of pastors/parents and their children whose applications were approved and they received the money:

ACCOUNTS

DOLLAR ACCOUNT:

KWACHA ACCOUNT: Amount in Amount out 2024-2025 BBF: MK233,680.35 Mk7,600,000.00

Year

Amount in

Amount out

Year

2

024-2025. BBF: $1,204.35 $4,500.00

In: $3,985.00

In: Mk7,004,000.00 Mk 100,000.00 Mk 858,333.35 Mk 86,336.80

Total:

$5,189.35 $4,500.00

Total: Mk8,096,013.70

Mk7,786,336.80

As a committee on behalf of all LCCA-MS pastors we say thanks to the whole Wendland Scholarship Committee in U.S.A for considering our concerns and granting our requests. We asked for an increment on the amount each applicant receives and you considered it that this year we have managed to give each student Mk200,000. This is wonderful. May you continue considering and supporting us through this fund.

We wish you all the best in our Risen Lord as you continue supporting us. May God bless you and the great job you do for us. To him who sits on the throne and to the Lamb be praise, and honor, and glory and power, forever and ever.