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LCMS Convention Workbook St. Louis, Missouri — 1983, Page 147

Scan: The Lutheran Church—Missouri Synod

Transcription machine transcription, uncorrected

ADMINISTRATION AND PROGRAM IMPLEMENTATION 147

Beis the 1982 tax act. Numerous efforts are being made by banks
STATEMENTS OF SUPPORT AND REVENUE AND EXPENSES and savings and loan institutions to repeal this act, but it is
AND CHANGES IN PUND BALANCE extremely doubtful that outright repeal wil] occur. The act
eee ed eee to, DON applies to the life income agreements held by the Foundation
and will undoubtedly result in a very complex administrative

procedure to handle forms, withhold the proper tax amounts on

Unrestricted Endowment

Operating and Other Total All dividend and interest income, and report the same to the
Fund Teast Funds Funds income recipients and the federal government. Numerous legal
Support and revenue: and accounting questions need to be resolved prior to being
Matured agreements: able to comply with these requirements. Unfortunately to this
Annuity fund $ 33,912 $ $ 33,912 p ~ A . - . .
Life income fund 52,971 52,977 date the Internal Revenue Service has failed to issue clarifying
~~86, 889 86,889 instructions.
Other:
Gifts and bequests 34,847 34,847
Annuity fund excess earnings 352,738 352,738 Summary
L t 186,829 186,829 . . . .
dein on cela cf snvestments 40.068 40,068 Much has occured in the life of the Foundation since the
Endowment earnings ee 25.574 1981 convention. The trustees are grateful to a gracious and
Service fees aia 199 merciful God for the opportunity to serve in a very exciting
652,275 652,275 ministry of the church and to assist God's people with their
—as a stewardship life. The trustees are also grateful for dedicated

staff and the leadership and administrative talents that they

; provide for this important endeavor. Gratitude is expressed for
Gifts distributed and operating expenses:

Operating expenses 339, 286 339,286 all those who have gone before us to develop services provided
Gifts distributed te —;H938 by the Foundation. The current trustees are Mr. Arvid Jouppi,
—=_—_" — Grosse Pointe, Mich., president; Mr. Rupert Dunklau. Fremont,

Excess of support and revenue Nebr., senior vice-president: Dr. Herbert Mueller, St. Louis.
Ceeraling ecpenece before. Mo., secretary; Mr. Roger Bettin, Pittsford, N.Y.; Dr. Ralph
capital changes 384,942 384,942 Bohlmann, St. Louis, Mo.; Mr. Henry Grueber, Mequon, Wis:.:

Mr. Kenneth Guebert, St. Louis, Mo.; Mr.William Harbeck,

Capital changes: LakeForest, I}].; Mr. Harlan Klotz, Palm Springs, Calif.; Mr.
Gifte and grants 2,851 2,852 Harold Mattfeld, Austin, Minn.; Mr. Dale Scheer, Lincoln,
= EI Seal Nebr.; Mr. Norman Sell, St. Louis, Mo.; Mr. Robert Welk,

Rochester, N.Y.

Excess of support and revenue

over gifts distributed and Arvid Jouppi, President
operating expenses after
capital changes 384,942 2,851 387,793

Pund balance at beginning of year 1,298,833 306,268 1,605,101

Fund balance at end of year £1.683,775 £309,119 £1.992,894

Exhibit C
STATEMENTS OF CHANGES IN FUNOS HELD IN CUSTODY FOR OTHERS
THE LUTHERAN CHURCH=MISSOURI SYNOD
Year Ended June 30, 1982
Endowment and
Life Income Fund Annuity Fund Other Trust Funds
rust Undtstributed Annuities CItt Annultles rust UndTstributed Agency Total
Agreements Income Payable Portion Reser ve Total Agreements income Funds All Funds
Balance at June 350, 198) $29,875,444 $ 334,422 $2,398,060 $1,085,620 $142,348 $3,626,028 $10,022,898 §$ 205,851 $ 351,093 $44,415,736
Additions:
New agreements 5,001,827 180,994 149,654 350,648 624,665 1,230,671 7,187,811
Investment earnings 2,6N, 211 505,055 505,055 1,272,507 45,316 4,513,089
Incame reinvested 275,64) (275,641)
Gain on sale of investments 19,079 19,079
Transfer from Lutheran
Church-Mi ssouri Synod 3,338,075 3,338,075
5,277,468 2,414,570 686,049 149,654 835,703 3,962,740 1,272,507 1,295,066 15,058,054
Deductions:
Distributions to charitable
beneficiaries 103,401 24,770 42,232 37,002 4,347 759,971 667,734 1,572,455
Distributions to holders of
agreements 46,525 2,240,170 342,175 342,175 140,000 377,875 3,146,743
Loss on sale of investments 652,054 11,591 11,59 21,276 874,921
Matured agreements tras-
ferred to:
Unrestricted operating
fund 52,977 33,912 33,952 86,889
Endowment fund 14,751 (11,750)
Annuities reserve 1,451 (1,451)
Excess earnings trans-
ferred to:
Unrestricted operating
fund 352,738 352,738 352,738
Annulties reserve 24,457 (24,457)
Revocations 93,032 93,032
Expense of new agreements 335,330 335,330
Miscellaneous expenses 1,074 19,430 6,588 27,092
1,295,068 2,240,170 755,731 47,595 (25,908) 777,418 344,946 1,157,276 674,322 6,489,200
Balance at June 30, 1982 $33,857,844 $ 508,822 $2,328, 378. $1,187,679 $168,256 $3,684,313 $13,640,692 $ 321,082 $_ 971,837 $52,984,590

See notes to financial statements