# LCMS Convention Proceedings_St. Louis Missouri_1956_S684
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

684 FINANCIAL MATTERS

Wuereas, The committee has successfully completed its assign-
ment; be it

Resolved, (a) That the report of this committee be adopted; and

(b) That Synod express its appreciation to those who served
on this committee.

Report of Board of Trustees of Synod’s Trust Funds
(Report 812)

In order to bring the record up to date, we submit herewith
a brief, historical review of the Board of Trustees of Synod’s Trust
Funds, together with operations for the fiscal year ending Jan-
uary 31, 1956, compared with the previous year.

The Board of Trustees of Synod’s Trust Funds was organized
April 22, 1937, at a meeting held in Chicago, IIl., and has operated
capably ever since. This Board replaced the LLL Endowment
Fund and Synod’s Sundry Trusts Fund committees, both of which
were dissolved. At that time the assets of Synod’s Trust Funds
entrusted to the newly formed committee for investment super-
vision were:

LLL Endowment Fund oui... eeeeeeeeeeeeeens $2,803,855.62
Sundry Trusts Fund 22 886,138.29
Total $3,689,993.91

Later on, the Pension and Lay Retirement Funds were added to
the Trust Funds of Synod and also placed under the investment
management of the Trust Committee. Total assets of all of Synod’s
Trust Funds as of January 31, 1956, amounted to $27,200,114.72.

The function and responsibilities of the Board of Trustees are
to invest, reinvest, conserve, and protect Synod’s Trust Funds.
We are pleased to report that these duties are being performed
conscientiously, and that there are no investments in default in any
of the Trust Funds.

The PENSION FUND was established on October 1, 1937.
As is well known, its purpose is to provide pensions for pastors
and teachers of Synod upon retirement, and disability and death
benefits. The Fund was started without any paid-in capital, but
as of January 31, 1956, after eighteen years and four months of
operations, the Pension Fund has accumulated total assets amount-
ing to $20,933,495.87. The growth of the Fund during the past year
has been at. the imposing rate of approximately $3,000,000. If this
annual increase continues in the future, total assets may reach
$50,000,000 before the Pension Fund stabilizes.

_ The LLL ENDOWMENT FUND was raised by the Lutheran

Laymen’s League, beginning in 1918 for the purpose to help sup-

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