The standing financial committee of each monthly meeting of the people called Friends or Quakers, and each monthly meeting thereof, shall be a body corporate to take and hold in succession grants and donations of real or personal estate made to the use of such meeting or to the use of any preparative meeting belonging thereto, to alienate or manage such real and personal estate according to the terms and conditions of the grants and donations, and to prosecute and defend in any action relating to the grants and donations; but the whole income of the grants and donations shall not exceed the sum of $10,000 a year.