# LCMS Convention Workbook_St. Louis Missouri_1969_S430
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

430

fund has been created to defray the expenses involved
in this operation.

To keep pace with the increased activity, a new
and updated system of record keeping is in process of
being established in the Foundation’s office, especially
to facilitate the compilation of trends, statistics, and
reports and to keep in periodic contact with both past
and prospective donors. Also new forms relative to
various transactions with our constituents, especially
explaining and pointing up the tax implications, have
been finalized and are now in use. New procedures
envision the day when many matters will be handled
by computerization.

Spiritual Significance

It is important to emphasize that the Lutheran
Foundation is not concerned primarily with money or
material assets for their own sake but rather as a means
to undergird the financial needs of our church. The
Foundation is anxious to have individuals experience
the spiritual growth, abiding joy, and satisfaction that
come from concentrating some portion of their resources
to strengthen the church they love so that it can make
a better witness to Jesus Christ and be a greater

SPECIAL MINISTRIES AND SUNDRY MATTERS

influence for His cause on earth. The Board of Trustees
of The Lutheran Church — Missouri Synod Foundation
therefore commends the services of the Foundation to
all our laymen, teachers, and pastors and also encour-
ages our congregations, as well as the various agencies
operating within them, to utilize its services. Above
all, it implores the blessing of God on its continued
service of undergirding the entire work of our church
in its total Gospel outreach.

Frep L. Precut, Executive Director

CERTIFICATE OF AUDIT

To the Board of Trustees
The Lutheran Church — Missouri Synod Foundation
Saint Louis, Missouri

We have examined the balance sheet of THE LUTHERAN
CHURCH — MISSOURI SYNOD FOUNDATION as of January 31,
1969 and the financial transactions for the fiscal year then ended.
Our examination was made in accordance with generally accepted
auditing standards. and accordingly included such tests of the ac-
counting records and such other auditing procedures as we consid-
ered mecessary in the circumstances.

In our opinion, the accompanying balance sheet and related
financial statements present fairly the assets and liabilities of the
various funds of THE LUTHERAN CHURCH — MISSOURI SYNOD
FOUNDATION at January 31. 1969, ard the financial transactions
for the year then ended. in conformity with generally accepted ac-
counting principles for non-profit organizations applied on a basis
consistent with that of the preceding year.

Tracy B. WHITTON & COMPANY
Certified Public Accountants
St. Louis, Missouri
April 15, 1969

$3,455,188

$293,390 $1,060,798

Exhibit “A”
THE LUTHERAN CHURCH — MISSOURI SYNOD FOUNDATION
Condensed Consolidated Balance Sheet
Jan. 31, 1969
Interfund General Annuity Life Income Gift Endowment Agency
Assets Total Elimination Fund Fund Fund Fund Fund Fund
Cash 7S US CUS 10175 SC $F SS $ -— $
Cash due from Other Funds ———. —_—— (131,063) 58,977 1,931 — 68,535 1.620 —_——
Accounts Receivable ______S 50 50 — —- —
Notes and Contracts Receivable — 506,503 12,965 — 228,701 89.178 175,659
Investments 2.492.988 201.384 1,453,386 562.495 —- 209.341 66.382
Accrued Interest Receivable 31,320 9,839 — 20,563 670 150 98
Real Estate 367.417 — 90.000 206.514 70.903 _——
Deferred Charges 46.735 — 3,772 42,525 438 _—_—- —_—
$3.455,188 $(131,063) $293,390 $1,549,089 $1,060,798 $229,724 $386.770 $66.480
Liabilities and Fund Balances - Oo a —_ oo /
Cash due to Other Funds ——~—___--_ ___ $ _—— $(131,063) $ — $ —— $ 131.063 $ 3 $
Accounts Payable 12,307 5,693 —— 6.114 500 — —_——
Notes and Contracts Payable ___..-__———S 29.406 9,912 —— 7.494 12,000 — —
Deferred Income 2.268 125 63 80 2,000 —_ ——
Undistributed Gifts 22,522 22,522 — =
Undistributed Investment Income 15,424 9,839 154 3.632 — 1.701 98
Agreements in Force —__-- 2,461,287 — 1,548,872 912.415
Net Equity in Unrealized Gifts — 215,224 —— —— 215,224
Fund Balance 696,750 245,299 385,069 66.382
$1,549,089

$(131,063)

$229,724

$386,770 $66,480

Schedule A-I

General Fund Balances
Feb. 1, 1968, to Jan, 31, 1969

Balance, Feb. 1, 1968 $ 189,475
Add
Distribut'n from Undesignated Gifts Received 58,888
$ 248,363
Deduct
Transfer to J. W. Behnken Endowment Fund 3,064
Bal., Jan. 31, 1969 (To Exhibit “A’’)

$ 245,299

Schedule A-II

Annuity Agreements in Force
Feb. 1, 1968, to Jan. 31, 1969

Balance, Feb. 1, 1968 $1,391,246
Add

New Agreements Issued —_.-_-—.._______. $245.94

Investment Earnings _ 47,492 293.446

$1,684,692

Deduct

Payments to Annuitants __.____ $ 94,658

Matured Agreements 41,162 135.820

Bal., Jan. 31, 1969 (To Exhibit ‘“A’’)

$1,548,872