# LCMS Convention Proceedings_St. Louis Missouri_1956_S685
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS 685

port our veterans of the Cross. Then, in 1920, the Lutheran Lay-
men’s League gave the Fund, amounting to $2,050,095.25, to Synod.
The LLL augmented the original gift in 1923 by $250,000 and again
in 1926 by an additional gift of $250,000, making a total of
$2,550,095.25. When the Fund was transferred to Synod, the LLL
stipulated that the capital shall remain intact and only the net
income of the Fund is to be used for the support of superannuated
and indigent pastors and teachers. Total assets of the LLL Endow-
ment Fund on January 31, 1956, amounted to $2,839,735.92. The
Fund has grown moderately since 1926. However, experiences of
recent years indicate that future growth prospects are not
encouraging.

The LAY RETIREMENT FUND, the latest Trust Fund of
Synod, was organized January 1, 1948. The Fund was formed to
provide lay employees of Synod not included in the Pension Fund
with retirement benefits. In order to make up for past service
credits, the initial capital of $150,000 was paid in, $50,000 by Synod
and $100,000 by Concordia Publishing House. Total assets on Jan-
uary 31, 1956, amounted to $810,587.53. This Fund should continue
to increase at the rate of approximately $100,000 annually. This
projection can vary, however, depending upon future contribu-
tions and benefit payments.

The SUNDRY TRUSTS FUND is the oldest of Synod’s Trust
Funds. Available records do not reveal when the Fund originated.
However, it is presumed that Synod did receive gifts to be held
in trust not too many years after the Missouri Synod was organized.
This Fund holds in trust assets received through gifts, bequests,
legacies, annuities; and Synod’s reserves for fire and tornado
insurance. All the capital of the Fund, except the insurance
reserves, is restricted by the donors to the extent that the principal
is to remain intact and only the income is to be used for specific
purposes. Total assets of the Sundry Trusts Fund on April 22,
1937, were $886,138.29 and as of January 31, 1956, $2,616,295.40. The
Fund has shown a consistent growth during the past nineteen years
and it appears that future growth prospects should continue.

A summary of Trust Funds is itemized in the following tables.

Assets of Synod’s Trust Funds and Yield

January 31, 1956 Yield January 31, 1955 Yield
Pension Fund .—.—---- $20,933,495.87 2.937%  $17,824,156.78 2.95 %
LLL Endowment Fund 2,839,735.92 3.445% 2,828,034.93 3.328%
Sundry Trusts _—--—----. 2,616,295.40 3.324% 2,528,919.91 3.49 %
Lay Retirement Fund _ 810,587.53 3.177% 709,142.21 3.073%

Total eee $27,200,114.72 $23,890,253.83