# LCMS Convention Workbook_St. Louis Missouri_1973_S399 # Machine transcription, uncorrected — CHI Digital Archive (demonstration) 386 STEWARDSHIP AND FINANCE tunity for investment at current yields in the case of fixed income, and current market and yield in the case of equity investment, and of most importance, to give permanent en- dowments the opportunity of increasing income and growth of value through equity investment. It is particularly de- vised to provide current investment opportunities for the grants, gifts, devises, and bequests received by the Synod and its educational institutions. (See Section 6.37¢ of the Handbook of the Synod.) The following is a summary of the investments of the Common Investment Funds showing each class of securities at cost at the beginning of the period and the end of each of the two fiscal years: Fixed Income Account “A” Jan. 31, 1971 Jan. 31, 1972 Jan 31, 1973 U.S. Government and Federal Agency Bonds .. $ — 24,822 $ 24,822 Utility Bonds .._ - 25,250 25,250 25,250 Railroad Bonds — 40,594 81,140 Industrial Bonds _ 24,969 60,406 60,406 Cash and Temp. Invest. (253) 420 12,280 $ 49,966 $ 151,492 §¢ 203,898 Equity Account “B” Jan. 31, 1971 Jan. 31, 1972 Jan. 31, 1973 Common Stocks $ 880,840 $ 919,873 $ 931,143 Cash and Temp. Invest. —— (1,311) 4,149 12,926 $ 944,069 $ 879,529 $ 924,022 Mixed Account “Cc” Jan. 31, 1971 Jan. 31, 1972) Jan. 31, 1973 U.S. Government Bonds a. $ —— $ 120,900 $ 120,900 Utility Bonds - 908,336 887,217 862,217 Railroad Bonds — —— Industrial Bonds 135,225 135,225 135,225 Common Stocks __. 510,590 530,018 494,328 Cash and Temp. Invest, 150,677 5,120 30,341 $1,704,828 $1,678,480 $1,643,011 General Banks and trust companies in St.Louis, Chicago, and Toronto are employed to render custodial services for all the securities held by each of the respective trust funds managed by the Board of Trustees. The Board meets at least six times in each year to review investments, plan and authorize further investments or changes in investment, and to consider and act on policies of the Board or any other matters coming within the purview of the Board. The membership of the Board of Trustees is: Dr. J. A. O. Preus, President of the Synod, ex officio; Dr. Milton Carpen- ter, Treasurer of the Synod, ex officio; Dr. Martin E. Strieter (Chairman), Chairman of the Board, Rock Island Bank & Trust Co., Rock Island, Ill.; Mr. Ralph E. Petering, retired, former Senior Vice-President, Emerson Electric Co., St. Louis, Mo.; Mr. Robert W. Selle, Investment Counsel Asso- ciates of Massachusetts, Inc., Boston, Mass.; Mr, Arthur T. Wellman, retired, former Assistant Vice-President, Harris Trust and Savings Bank, Chicago, Ill.; and Dr. Walter Koch, Attorney, Holmes, Roberts, Owen, Denver, Colo. Martin E. Strieter, Chairman 12-06 Report of Lutheran Church — Missouri Synod Foundation The Board of Trustees of The Lutheran Church — Mis- souri Synod Foundation herewith presents its sixth conven- tion report to the membership of the church. The work and expansion of the Foundation is becoming more and more crucial for the continued growth of our church. Changes in policy and areas of activity as noted be- low will show that the Foundation is on the move and that it is an organization in which the entire membership of The Lutheran Church — Missouri Synod can participate. Our present policy is not directed toward just the individuals with means, but to acquaint the total membership of our church with the types of programs that we have in which the majority can play a key role without detracting from current congregational giving programs or from the support of the family. Areas of Activity. The Foundation has embarked upon an expanded program of public information concerning de- ferred gifts, estates, wills and a much greater outreach effort through Districts, school development officers, and staff rep- resentatives of the Foundation offices. The new program aims to acquaint the membership of Synod with the Founda- tion Two Way Giving Program. The individuals give to the church and, in turn, they receive the interest that their money earns. Rather than competing with local congrega- tional programs, the program would beg to compete with savings programs that can be found in any city or town, with the added special feature that the Foundation areas of support to which the individuals are contributing serve all aspects of the ministry of our church, whether it is in the area of social concern, higher education, missions or other causes. The emphasis of our program is designed to take into account the needs of our church and family concerns over the ever-rising cost of education and societal needs. Looking at all of these aspects, we feel that members of The Lutheran Church — Missouri Synod will more readily be able to see the blessings of a gracious God who has blessed them so abundantly and will want to respond in thanksgiving by putting some money to work for the church to insure that His Kingdom can expand and that we can carry out the great commission that God has given to us. Trustees and Officers, In order to streamline the manage- ment of the Foundation, a major change was made in the Articles of Incorporation and Bylaws to give the Board of Trustees a greater management role in the Foundation and to reduce the membership on the Board of Trustees from 7 clergymen and 14 laymen to 3 clergymen and 8 laymen. Individuals appointed to serve on the Board of Trustees will represent a broad segment of our church and have a keen insight into the business activities of the Foundation. Basic Policies concerning acceptance of gifts, devices and bequests, investment of assets and disbursements of gifts will still be in consultation with the members of the Foundation who are the Board of Directors of the Synod. Growth. As of Jan. 31, 1973, the Foundation had total assets of approximately $6,680,000. Most of these assets are held in trust not only for the benefit of the donor but also for the Synod and its various affiliated agencies. The total assets represent an increase of $990,000 over the previous year. Gifts distributed to the church and its affiliated agen- cies over the past year total $365,000. The Foundation is completely self-sustaining and has a goal of increasing the total assets by $25 million over the next 5-year period. Conclusion. The board of trustees and executive staff of the Foundation are working hand in glove with the Steward- ship Department of our church to do everything possible to help make our financial needs less burdensome. As the funds increase, we will better be able to meet the needs of our church. The board of trustees of the Foundation commends the Foundation services to all members of our beloved Lutheran Church ~ Missouri Synod and asks that you call upon the Foundation staff to assist you wherever possible. Relying on the great promise of our Lord that He will be with us always, the Foundation members, board of trus- tees and executive staff firmly believe that the Lord will bless our effort in carrying out the great commission. The Foundation trustees propose the following Bylaw revision: PRESENT WORDING IX. FINANCE E. MISSOURI SYNOD FOUNDATION 9.65 Board of Trustees b. Terms. Members of the Board of Trustees shall serve for terms of 4 years in such manner that approximately one half of the members shall be elected every 2 years.