LCMS Convention Proceedings St. Louis, Missouri — 1971, Page 221

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222 LATE REPORTS AND OVERTURES

form of designated gifts the sum of $680,000. Of this
sum $27,000 was distributed this past fiscal year. Fur-
thermore during the past 11 years of its existence it
distributed $322,000 to various auxiliary agencies of
the Synod, $40,000 of it during 1970.

The foundation as of January 31, 1971, had assets of
approximately $4,800,000, consisting of working capital
of $315,000, gift annuity fund of $1,886,000, life income
fund of $1,609,000, and endowment fund of $668,000.
Most of these assets are in effect held in trust, not only
for the benefit of the donors but also for the Synod
and its various affiliated agencies. Undistributed and
unmatured gifts plus miscellaneous agency funds
amount to $322,000.

The Board of Trustees is happy to state that, begin-
ning with the fiscal year 1968, the foundation became
completely self-supporting and hence is not included
in the synodical budget.

Fiscal year 1969 proved to be the best year in the
foundation’s brief history. Total gifts (all types)
amounted to $1,264,944.

There followed the Tax Reform Act of 1969. This
brought about new vehicles for giving, such as the
annuity trust and the unitrust. U.S. Treasury regula-
tions were slow in coming, creating a period of wait
and hold. Furthermore, this act necessitated changed
office procedures and often revisions of former con-
tracts. New literature had to be produced reflecting the
changed situation. The economic slump, continuing in-
flation, the uncertainties and complexities of the Tax
Act, uneasiness about the future on the part of our
people exerted a negative effect on the flow of gifts.
As a result, total gifts for fiscal 1970 were down to
$630,086, about half the sum received in 1969.

Promotional Program

The great challenge of the foundation is to educate
our people to the great need of “extra budget” gifts from
their accumulated resources and to point up the con-
venient channels of the foundation for such giving. This
is accomplished through literature, ads, films, and, we
hope, word of mouth. The foundation encourages pas-
tors and laymen to plan and present estate planning
programs on the congregational level.

The foundation is gradually engaging part-time field
representatives, on a contractual basis, who are promot-
ing the foundation in their respective areas and making
personal contacts with prospective donors.

Conclusion

In assessing the future of the foundation the Board
of Trustees firmly believes that greater emphasis must
be placed on estate planning and will making. These
involve a relatively new dimension in Christian stew-
ardship. As more and more Christians come to maturity
in this area of stewardship — the stewardship of capital
in contrast with the stewardship of income (the one, of
course, must not be neglected for the other) — the
church will be better supported financially and ready to

meet the challenges for Christ in this troubled world.
In the final analysis it is only in the Gospel that people
will find purpose and meaning in this life and eternal
salvation in the next.

The Board of Trustees of the foundation therefore
commends the foundation’s services to all laymen,
teachers, and pastors, and also encourages our congre-
gations, as well as the various agencies operating within
them, to utilize its services,

With the Tax Reform Act behind us, with our office
procedures geared to the changed situation, we look
forward, under the blessings of God, to being of ever
greater service to the cause of the Gospel. We face the
future in faith and confidence, reminding ourselves that
fear is faith in Satan, faith is fear in God.

Frep L, Precut, Executive Director

Communication from
Die Evangelisch-Lutherische Freikirche

X-07U
Dear BretTureN IN Curist:

For the synodical convention of your Synod we, the
Ev.-Lutheran Free Church of Germany, extend our
hearty greetings and well wishes to you. We pray that
God may grant you a rich measure of His Holy Spirit,
so that in obedience to His Word you may find the right
answers to the many difficult problems which you face.
May all resolutions serve the spreading of the Gospel in
all the world, and may the love for the truth fill your
hearts in all things to know and do the will of the Lord.

We have at various times made known to your Presi-
dent that we are troubled about the way you decided
to go, when at Denver you established fellowship with
a church which, as far as we can tell, does not have
the marks of a true church (notae purae) in doctrine
and practice.

Thus we cannot but repeat what our church decided
last year in its convention at Steeden and which I was
charged to transmit to your President:

“A) that our church disapproves the resolution
of the LCMS regarding the establishment of
church relations with ALC, and that it cannot be
a partner with such action, nor consider it binding
upon itself;

“B) that we will therefore support all those
brethren in LCMS who strongly contend for the
Word of God and the Lutheran Confessions in
this matter.”

It is our hope and prayer that your convention in
Milwaukee may find a God-pleasing way out of this
dilemma — which is also ours—so that in all things
God’s holy name may be hallowed and His good will
be done.

In this hope and expectation our church finally de-
clared and we repeat it now:

“C) that we will await further developments in