# LCMS Convention Proceedings_St. Louis Missouri_1944_S893
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

308 FINANCIAL MATTERS

H. ANNUITY ENDOWMENTS

New Interest Paid to Agreements

Annuities Earned Annuitants Expired
Year 1938 2. $ 41,943.38 $ 2,527.79 $ 6,500.88 $ 6,783.19
Year 1939 _.. -. 14,000.00 3,076.71 7,736.15 2,911.09
cee - 40,954.00 3,650.28 8,890.36 _ 675.01

28,395.67 5,178.17 11,531.30 —
33,662.50 5,849.78 12,445.05 2,262.81

Totals __.. $216,573.31 $25,013.60 $57,415.15 $28,593.84
RECAPITULATION

Balance, January 31, 1988 $ 89,914.74
New Annuities $216,573.31
Interest Earned 0 25,013.60

241,586.91

$331,501.65
Less: Paid to Annuitants .- $ 57,415.15
Agreements Expired 28,593.84

86,008.99

Balance, January 31,1944 00 $245,492.66

J. LEGACIES

During the last three years Synod received a total of $303,680.25 as
new legacies, bequests, endowments, and the like. This total compares
very favorably with the $275,031.15 received in the previous triennium.
The receipts fall in the following classifications, which are here briefly

lefined.

A. First of all, there are LEGACIES, which according to our office °

parlance are sums willed to Synod by its members, the testator speci-
fying that the amount willed to Synod should be profitably invested

and the earnings used for some general or specific purpose of Synod. '

Quite frequently the testator designates the ultimate synodical purpose
to which these earnings should be put. Of late, however, Synod has
been receiving a gratifying number of legacies in which the testator
merely named the Synod as beneficiary, without further stipulation,
leaving it to Synod’s Board of Directors to designate annually the
purpose of such earnings.

B. By far the greatest number of items contained in our legacy -

‘receipts are identified as BEQUESTS. In our office parlance, if a
testator wills anything to Synod and says that the entire sum is to be
paid out for some general or, specific purpose of Synod, such an item
is designated as a bequest. :

C. In our listings there are a number of ENDOWMENTS. These
are gifts from the living, which are to be invested and the earnings of
which are to be used for the purposes designated by the donor.

D. FOUNDATIONS are similar to endowments, with the exception
that the donor has chosen thus to designate his gift,

E. MEMORIALS are essentially endowments, created from gifts or .

bequests and dedicated to the memory of a person or persons.

F. Quite a number of items are listed as FUNDS. These items: are
all in the same class with legacies and endowments, with the exception
that the testators, respectively the donors, have seen fit to designate
their legacies or gifts thus. : a

G, Finally, there is a group of ANNUITY ENDOWMENTS. ‘These
represent cases in which individuals had entered into annuity agree-

‘

57,617.76 4,730.87 10,311.41 15,961.74 ©

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