LCMS Convention Workbook St. Louis, Missouri — 1973, Page 386

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386 STEWARDSHIP AND FINANCE

tunity for investment at current yields in the case of fixed
income, and current market and yield in the case of equity
investment, and of most importance, to give permanent en-
dowments the opportunity of increasing income and growth
of value through equity investment. It is particularly de-
vised to provide current investment opportunities for the
grants, gifts, devises, and bequests received by the Synod
and its educational institutions. (See Section 6.37¢ of the
Handbook of the Synod.)

The following is a summary of the investments of the
Common Investment Funds showing each class of securities
at cost at the beginning of the period and the end of each
of the two fiscal years:

Fixed Income Account “A”

Jan. 31, 1971 Jan. 31, 1972 Jan 31, 1973
U.S. Government and

Federal Agency Bonds .. $ — 24,822 $ 24,822
Utility Bonds .._ - 25,250 25,250 25,250
Railroad Bonds — 40,594 81,140
Industrial Bonds _ 24,969 60,406 60,406
Cash and Temp. Invest. (253) 420 12,280

$ 49,966 $ 151,492 §¢ 203,898

Equity Account “B”

Jan. 31, 1971 Jan. 31, 1972 Jan. 31, 1973

Common Stocks $ 880,840 $ 919,873 $ 931,143
Cash and Temp. Invest. —— (1,311) 4,149 12,926
$ 944,069

$ 879,529 $ 924,022

Mixed Account “Cc”

Jan. 31, 1971 Jan. 31, 1972) Jan. 31, 1973
U.S. Government Bonds a. $ —— $ 120,900 $ 120,900
Utility Bonds - 908,336 887,217 862,217
Railroad Bonds — ——
Industrial Bonds 135,225 135,225 135,225
Common Stocks __. 510,590 530,018 494,328
Cash and Temp. Invest, 150,677 5,120 30,341

$1,704,828 $1,678,480 $1,643,011

General

Banks and trust companies in St.Louis, Chicago, and
Toronto are employed to render custodial services for all
the securities held by each of the respective trust funds
managed by the Board of Trustees. The Board meets at
least six times in each year to review investments, plan and
authorize further investments or changes in investment, and
to consider and act on policies of the Board or any other
matters coming within the purview of the Board.

The membership of the Board of Trustees is: Dr. J. A. O.
Preus, President of the Synod, ex officio; Dr. Milton Carpen-
ter, Treasurer of the Synod, ex officio; Dr. Martin E. Strieter
(Chairman), Chairman of the Board, Rock Island Bank &
Trust Co., Rock Island, Ill.; Mr. Ralph E. Petering, retired,
former Senior Vice-President, Emerson Electric Co., St.
Louis, Mo.; Mr. Robert W. Selle, Investment Counsel Asso-
ciates of Massachusetts, Inc., Boston, Mass.; Mr, Arthur T.
Wellman, retired, former Assistant Vice-President, Harris
Trust and Savings Bank, Chicago, Ill.; and Dr. Walter Koch,
Attorney, Holmes, Roberts, Owen, Denver, Colo.

Martin E. Strieter, Chairman
12-06

Report of Lutheran Church — Missouri
Synod Foundation

The Board of Trustees of The Lutheran Church — Mis-
souri Synod Foundation herewith presents its sixth conven-
tion report to the membership of the church.

The work and expansion of the Foundation is becoming
more and more crucial for the continued growth of our
church. Changes in policy and areas of activity as noted be-
low will show that the Foundation is on the move and that
it is an organization in which the entire membership of The
Lutheran Church — Missouri Synod can participate. Our
present policy is not directed toward just the individuals
with means, but to acquaint the total membership of our
church with the types of programs that we have in which

the majority can play a key role without detracting from
current congregational giving programs or from the support
of the family.

Areas of Activity. The Foundation has embarked upon
an expanded program of public information concerning de-
ferred gifts, estates, wills and a much greater outreach effort
through Districts, school development officers, and staff rep-
resentatives of the Foundation offices. The new program
aims to acquaint the membership of Synod with the Founda-
tion Two Way Giving Program. The individuals give to the
church and, in turn, they receive the interest that their
money earns. Rather than competing with local congrega-
tional programs, the program would beg to compete with
savings programs that can be found in any city or town,
with the added special feature that the Foundation areas of
support to which the individuals are contributing serve all
aspects of the ministry of our church, whether it is in the
area of social concern, higher education, missions or other
causes.

The emphasis of our program is designed to take into
account the needs of our church and family concerns over
the ever-rising cost of education and societal needs. Looking
at all of these aspects, we feel that members of The Lutheran
Church — Missouri Synod will more readily be able to see
the blessings of a gracious God who has blessed them so
abundantly and will want to respond in thanksgiving by
putting some money to work for the church to insure that
His Kingdom can expand and that we can carry out the
great commission that God has given to us.

Trustees and Officers, In order to streamline the manage-
ment of the Foundation, a major change was made in the
Articles of Incorporation and Bylaws to give the Board of
Trustees a greater management role in the Foundation and
to reduce the membership on the Board of Trustees from
7 clergymen and 14 laymen to 3 clergymen and 8 laymen.
Individuals appointed to serve on the Board of Trustees will
represent a broad segment of our church and have a keen
insight into the business activities of the Foundation. Basic
Policies concerning acceptance of gifts, devices and bequests,
investment of assets and disbursements of gifts will still be
in consultation with the members of the Foundation who are
the Board of Directors of the Synod.

Growth. As of Jan. 31, 1973, the Foundation had total
assets of approximately $6,680,000. Most of these assets are
held in trust not only for the benefit of the donor but also
for the Synod and its various affiliated agencies. The total
assets represent an increase of $990,000 over the previous
year. Gifts distributed to the church and its affiliated agen-
cies over the past year total $365,000.

The Foundation is completely self-sustaining and has
a goal of increasing the total assets by $25 million over the
next 5-year period.

Conclusion. The board of trustees and executive staff of
the Foundation are working hand in glove with the Steward-
ship Department of our church to do everything possible to
help make our financial needs less burdensome. As the
funds increase, we will better be able to meet the needs
of our church.

The board of trustees of the Foundation commends the
Foundation services to all members of our beloved Lutheran
Church ~ Missouri Synod and asks that you call upon the
Foundation staff to assist you wherever possible.

Relying on the great promise of our Lord that He will
be with us always, the Foundation members, board of trus-
tees and executive staff firmly believe that the Lord will
bless our effort in carrying out the great commission.

The Foundation trustees propose the following Bylaw
revision:

PRESENT WORDING
IX. FINANCE

E. MISSOURI SYNOD FOUNDATION
9.65 Board of Trustees
b. Terms. Members of the Board of Trustees
shall serve for terms of 4 years in such manner

that approximately one half of the members shall
be elected every 2 years.