LCMS Commission on Constitutional Matters — Minutes St. Louis, Missouri — April 13, 2000, Page 2

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According to Bylaw 3.401, a, the Board for Higher Education shall serve as the Board of Directors of the
Concordia University System. Thus the Bylaws in this section apply to the one board both as the Board
for Higher Education, a program board of the Synod, and as the governing board of the Concordia
University System. The Concordia University System is a synodwide corporate entity.
According to Bylaw 3.401, b, this board, as the Board of Directors of the Concordia University System,
has authority with respect to the Synod’s colleges and universities. As the Board for Higher Education, it
has authority with respect to all the Synod’s institutions of higher education, including its seminaries.
According to Bylaw 6.03, in exercising its relationship to the Synod and to the Board for Higher
Education as set forth elsewhere in the Bylaws (3.401), the Board of Regents of each institution shall
consider as one of its primary duties the defining and fulfilling of the mission of the institution within the
broad assignment of the Synod and shall, among other duties, approve institutional fiscal arrangements
(paragraph f) and operate and manage the institution as the agent of the Synod, in which ownership is
primarily vested and which exercises its ownership through the Board of Directors as custodian of the
Synod’s property, the Board for Higher Education, and the respective Board of Regents as the local
governing body (paragraph j). Included in the operation and management are such responsibilities as
(paragraph 2) the receiving of all gifts by deed, will or otherwise made to the institution and delivering
them to the Vice-President−Finance—Treasurer of the Synod or such other person as may be designated
by the Board of Directors of The Lutheran Church—Missouri Synod, unless precluded by law or the
terms of the gift. In such case, the Board of Regents shall hold and administer the same, in accordance
with the terms of the instrument creating such gift and in accordance with the policies of the Board of
Directors of The Lutheran Church—Missouri Synod.
According to Bylaw 3.163, the Chief Financial Officer of the Synod (Vice-President-Finance—Treasurer)
shall administer the financial affairs of the Synod, excluding the synodwide corporate entities, the
Districts, and Worker Benefit Plans. He shall carry out the duties of the office in accordance with the
rules and regulations adopted by the Synod and as directed by its Board of Directors. He shall receive and
disburse the moneys of corporate Synod and keep accurate account of them under instruction of the Board
of Directors of the Synod.
According to Bylaw 3.165, a, the Chief Financial Officer shall act as the depository for all funds in the
hands of corporate Synod’s boards (excluding Worker Benefit Plans), commissions, officers, and
employees who by virtue of their office act as custodians or trustees of such funds.
According to Bylaw 3.601, a, The Lutheran Church—Missouri Synod Foundation shall be maintained
and controlled by the Synod as a corporate entity organized under the laws of the State of Missouri and
shall be operated by a Board of Trustees, responsible to the Synod, in accordance with the provisions of
its articles of incorporation and corporate bylaws.
According to Bylaw 3.605, a, the LCMS Foundation shall provide investment management services for
legacies, bequests, devises, endowments, annuity gifts, and other trust funds of the Synod and its agencies
as established in its bylaws.
These Bylaws provide that:
(1) the Synod’s educational institutions (Bylaw 6.03, j, 2) deliver to the VicePresident−Finance—Treasurer of the Synod (or such other person as may be designated by the Synod’s
Board of Directors) invested funds such as permanent endowments, quasi endowments, restricted funds,
etc., unless precluded from doing so by law or the terms of the gift. It should be noted that the bylaw
requires such funds to be delivered to the Vice-President−Finance—Treasurer and says nothing about
delivery of such funds to the Foundation;
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