LCMS Convention Workbook St. Louis, Missouri — 2016, Page 90

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90

OFFICER, BOARD, AND COMMISSION REPORTS

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million in fiscal 2013, a gain of $7.2 million in fiscal 2014, and a loss
of $6.6 million in fiscal 2015. In addition to the market-value adjustments, LCEF recorded the $5 million sponsorship of the Lutheran
Federal Credit Union during fiscal 2015.
Enterprise Risk Management (ERM)—During the fiscal year that
ended June 30, 2015, LCEF engaged KPMG to perform an Enterprise
Risk Assessment to identify the top risks confronting LCEF as it seeks
to fulfill its mission. KPMG concluded that LCEF’s management and
board have a consistent understanding of key risks facing the organization, the organization is in a good position to advance its risk
management program, and its current processes are comparable to
those utilized by middle-market financial institutions. The Board has
assigned responsibility for monitoring ERM to the Audit Committee.
Management has formulated a quarterly risk-monitoring and reporting system designed to report to the Audit Committee and the Board.

donor was called to their heavenly home. These planned gifts include
endowments, donor-advised funds, charitable remainder trusts, gift
annuities, and other complex gifts.
From July 1, 2013, through June 30, 2015, the LCMS Foundation
distributed 274,642 gifts totaling $160,193,457 to more than 900
LCMS ministries. These ministries include our congregations and
schools, seminaries, districts, and ministries providing missionary
support, rural and urban outreach, housing assistance, and much more.
Ministries that receive significant gifts can then benefit by working
with the Foundation to establish, promote, and responsibly manage
those gifts. The Foundation serves as custodian for hundreds of LCMS
organizations to help turn giving into long-term ministry funding. We
provide sophisticated, diversified investment portfolios at low cost to
match the resource objectives of the organization.

Conclusion

LEADERSHIP and ORGANIZATION

LCEF has been blessed with loyal support from its investors and
faithful commitment from its borrowers. As a result, LCEF is positioned with a strong capital and liquidity position and has sufficient
funds available to support loans to ministries within the United States
and throughout the world. LCEF seeks ways to advance innovation
and creativity in our approach. We are committed to explore responsible lending options that challenge historical approaches and meet
today’s needs of our partners within the LCMS.
We encourage all of our national and district staff members and
volunteers to seek God’s guidance in turning any perceived “roadblocks” into opportunities to serve and support ministries’ efforts to
share His Word. We seek to share the resources entrusted to us, the
talents of our staff and volunteers, as we are guided by the Lord and
the Holy Scriptures. We seek to be a catalyst for energizing ministry,
and we thank God for the privilege of serving.
Soli Deo Gloria!
Richard C. Robertson, President/CEO

Mr. David Fiedler has served as President of the LCMS
Foundation since 2013. His cabinet team consists of four senior vice
presidents providing leadership to the organizational operations of
the Foundation. Fifty employees serve the Foundation.
Gift Planning: This team of gift planning counselors meets with
individuals and families to establish their Lifetime Plan for Giving. It
is a comprehensive process that executes their stewardship goals for
family and ministry during life and through estate plans.
Investment services: By managing assets collectively for the
church, the Foundation is able to grant LCMS congregations and
ministry organizations access to a sophisticated, diversified investment model at a low cost. The Foundation embraces its role of serving
the church to make it stronger today, tomorrow, and forever.
Gift administration: This team consists of our staff attorneys and
trust administrators who provide the management services to support
and oversee endowments, gift annuities, charitable remainder trusts,
and other complex giving vehicles established by LCMS donors and
ministry organizations.
Marketing: This team creates opportunities to learn about and
respond to gift planning and investment service opportunities. They
also partner with congregations and other ministries to produce
custom resources to promote gift planning and endowment fund
development.

R17

LCMS Foundation

GOVERNANCE

Since its inception in 1958, the Lutheran Church—Missouri Synod
Foundation has served the individuals and families of the LCMS to
make the very best gifts to their favorite ministries. The Foundation
is privileged to report to you the number and value of all those gifts
each year. These numbers reflect God’s blessings and the amazing
generosity that provides resources for our LCMS ministries to carry
out the mission and ministry of the Lord’s Church.
The gifts the Foundation distributes are a result of the joyful
response to God’s love found in the hearts of individuals in our LCMS
community. These gifts include cash, stocks, real estate, personal
property, and other types of assets that the Foundation is able to convert for ministry use. Individual donors direct the Foundation on the
timing and use of these gifts.
Gifts supporting ministry that have been received during the past
three fiscal years are the result of the Foundation’s core services in
gift planning and gift administration. These resources went directly
to LCMS ministries. Some gifts were the result of a donor generously writing a check. Other gifts were bequests made through a
donor’s estate plan. The remaining majority of gifts were planned gifts
administered by the Foundation and distributed to ministry after the

2016 Convention Workbook

While the Foundation exists to serve all congregations and entities of the church, 60 voting Members elect trustees and vote on other
official actions, typically once a year at the Foundation’s annual meeting. Foundation Member organizations currently include 35 LCMS
districts, 10 colleges/universities, two seminaries, nine other Synodaffiliated entities, and five delegates appointed by the LCMS Board
of Directors to represent the Synod.
Direct oversight to the Foundation is provided by its Board of
Trustees, which meets quarterly to review and monitor the performance and activity of the organization and to provide strategic
direction. The Foundation board is made up of eleven trustees,
of whom seven are elected by the LCMS Member organizations
described above. Two other trustees are elected by the Synod in convention. The remaining two trustees are the Synod President or his
representative, and the chairman of the Board for National Mission
or his representative. The Chief Financial Officer of the Synod is an
ex-officio nonvoting member of the board.
STRATEGIC PLAN and TRANSFER THE BLESSING PROGRAM

As the Foundation looks to the future, we seek to grow our impact
on the Lutheran Church and its ability to share the Gospel. We are continually reviewing the needs of the Church and our Lutheran donors to
determine how we can better serve the people and organizations of the