# LCMS Convention Proceedings_St. Louis Missouri_1956_S649
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

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FINANCIAL MATTERS 649

-of this nature in behalf of our Pension Fund out of gratitude to the

Lord and in appreciation of the services rendered by our faithful
teachers and pastors throughout Synod.
50. Permit us to remind all members in Synod that bequests

‘made to this cause are not taxable. Furthermore, the percentage

of deductible income in the form of donations to church and
organized charitable causes has been increased from 15% to 20%.
Thus your gifts in behalf of our Veterans of the Cross may be
listed as deductions from your income in making your income-
tax return.

51. Another method devised by Synod and used by our Board
is that of Annuity Gifts to the Pension Fund, from which the donor
receives an annuity the remaining years of his life, with the under-
standing that any unexpended portion of his gift flows into a per-
manent Pension reserve, the earnings of which provide additional
Pension benefits to our pensioners. We shall be happy to answer
questions regarding such annuities and upon your request shall
supply you with the annuity rates.

52. Our Board has prepared memorial-wreath cards, which our
pastors and teachers have made available to members of our con-
gregations and which may be used in bestowing gifts for the Board
of Support and Pensions current treasury or preferably for the
Pension Contingent Fund.

53. The Board of Support and Pensions looks upon itself as
a Service Department in Synod, ministering to active workers in
Synod and also to the retired and disabled Veterans of the Cross
and their dependents. The Lord is blessing our endeavors. The
Pension Fund is meeting with greater favor from year to year.
The vast majority of our ministers of the Word in the preach-
‘ing and teaching professions are participating regularly. Our
congregations, with but very few exceptions, are supporting the
Pension Program with their regular employers’ contributions.
We thank our gracious God for all of this and implore His con-
tinued guidance and blessing upon our every endeavor.

Enwin A. Sommer, Executive Secretary

54. Report of the Accounting Department
PENSION FUND BALANCE SHEET
ASSETS January 31, 1953 Janvary 31, 1954 January 31, 1955
Cash _ «64,530.12 $ 33,062.94 $ 200,688.56
Investments _.._-___.__._ 14,586,095.79 — 17,530,885.54 20,446,234.32

Unamortized Prem. and Disc. 90,649.69 141,872.06 138,545.94
Accrued Int. Rec’d on Invest. 90,549.44 118,336.24 148,027.05

$14,931,825.04 $17,824,156.78 $20,933,495.87

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