LCMS Convention Workbook St. Louis, Missouri — 2007, Page 202

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202 PROGRAM AND FINANCE

loan, and service opportunities and can do so with greater effi-
ciency and effectiveness when all LCMS districts become mem-
bers of the national program; and

WHEREAS, Such consolidation has only been accomplished with
28 districts and greater efficiency is feasible (a 1/16th percent re-
duction in loan rates would result in a savings of $1 million) and
joining organizations would achieve workload reductions at the dis-
trict level and the potential for earnings distribution that averaged
$50,000 per district in 2006; and

WHEREAS, The LCMS Foundation exists to serve the entire
church, and can do so more efficiently and effectively when all or-
ganizations utilize the services; and

WHEREAS, The LCMS Foundation currently has Partner Mem-
ber relationships with 18 LCMS districts, 9 universities/seminaries
and 12 other synodical auxiliaries and RSOs; and

WHEREAS, The Foundation has helped and continues to help in-
dividuals establish direct and planned gifts for congregations and
other entities within all 35 LCMS districts, for all 10 colleges and
universities, for both seminaries and for virtually all ministries of
the church; therefore be it

Resolved, That the LCMS in convention encourages all govern-
ing boards and committees to review their responsibilities and their
opportunities to demonstrate our “walking together” and multiply
current and future benefits for their congregation, district, and the
whole church body; and be it further

Resolved, That upon completion of such review, they demon-
strate their support for “walking together” during the coming tri-
ennium.

Concordia Plan Services
Lutheran Church Extension Fund
LCMS Foundation

4-31

To Give Thanks and Praise to God
for LCMS Foundation’s 50 Years of Service

WHEREAS, Following the 1956 LCMS convention, the Synod’s
Board of Directors appointed a special committee to engage in pre-
liminary planning for a foundation to serve the needs of the con-
gregations and organizations of the Synod; and

Whereas, Based upon the committee’s recommendation, the
Synod’s Board of Directors established The Lutheran Church—
Missouri Synod Foundation in December 1958, which action was
ratified by the 1959 LCMS convention; and

Wuereas, The LCMS Foundation will observe its 50th an-
niversary in 2008; and

WHEREAS, Throughout its history the LCMS Foundation has
served-congregations, organizations, and individuals with steward-
ship training, direct and planned gifts for ministry and family, and
the administration of endowed gifts and custodial funds; and

WHEREAS, The LCMS Foundation has processed over $1 bil-
lion in direct and planned gifts since its inception in 1958; and

WHEREAS, The LCMS Foundation continues to serve the church
under its mission “Linking Christians with Giving Opportunities”®
and its vision of “Every Christian with a Lifetime Plan for Giving”;
therefore be it

Resolved, That the 2007 LCMS convention acknowledge the
50th anniversary and give thanks to God for the work of The
LCMS Foundation with a doxology of praise; and be it further

Resolved, That the Synod receive a brief video report on the
work of the LCMS Foundation; and be it finally

Resolved, That the Synod encourage congregations and organi-
zations to engage the Foundation through its local representatives
for assistance in the cultivation and stewardship of direct, planned,
and endowed gifts to support family and ministry today, tomorrow,
and forever.

Board of Trustees
The LCMS Foundation

4-32

To Amend Bylaw 3.8.2.5.5 (i)(2)
re Financial Management

WHEREAS, Bylaw 3.8.2.5.5 (i)(2) is part of the list of the re-
sponsibilities of the institutional boards of regents. The Bylaw re-
flects a period in the history of higher education in which the
Synod Treasurer provided all operational funds for institutions of
higher education from a pool of Synod dollars. Tuition and gifts
received at an institution were transferred to the Synod treasury and
drawn out as needed to maintain the operation of the institution.
Today, institutions of higher education are largely responsible for
their own financing of operations, either from tuition or donor gifts.
A line of credit supports their operations during the months be-
tween tuition receipts. The amendment that follows places the re-
sponsibility for managing cash flow on the institution.

Resolved, That Bylaw 3.8.2.5.5 (i)(2) be amended to read as fol-
lows:

PRESENF/PROPOSED WORDING
Receiving of all gifts by deed, will, or otherwise made to the

seminary institution and delverne-them-te-the-Hiee-Presi-

sinister managing the same, in accordance with the terms of the
instrument creating such gift and in accordance with the poli-
cies of the Beard-efDireeters-efFhe-butheran-Chureh—M4is-
seurt-Syned board of regents.

. Board for Pastoral Education

4-33

To Amend Bylaws 3.8.3.6.4 (e)(2) and 3.8.3.6.4 (i)(2)
re Financial Management

Rationale

Bylaws 3.8.3.6.4 (e)(2) and 3.8.3.6.4 (i)(2) are part of the list of
responsibilities of the institutional boards of regents. These two by-
laws reflect a period in the history of higher education when the
Synod Treasurer provided all operating funds for higher education
institutions from a pool of Synod dollars. Tuition and gifts received
at an institution were transferred to the Synod treasury and drawn
out as needed to maintain the operation of an institution. Today,
institutions of higher education are largely responsible for their
own financing of operations, either from tuition or through donor
gifts. A line of credit through the Office of University Education
supports their operations during the months between tuition re-
ceipts, The Office of University Education pools any excess oper-
ating funds to maintain the line of credit for institutional support
when needed.

This approach places the responsibility for managing cash flow
upon the institution and the Office of Higher Education (Concordia
University System).

Therefore, be it

Resolved, That Bylaw 3.8.3.6.4 (e)(2) be amended to read as

follows:

PRESENT PROPOSED WORDING
All surplus institutional funds above an adequate working balance

shall be leposited with the ¥+ee-Pres-
‘ : mcordia Universi em
for investment. Earnings from such investments shall be credited to the
depositing institution.

and be it further

Resolved, That Bylaw 3.8.3.6.4 (i)(2) be amended to read as fol-

lows: ,

PRESENT PROPOSED WORDING