Collection › LCMS Convention Proceedings (St. Louis, Missouri) › 1938 · 37th Convention, St. Louis › Page 288
LCMS Convention Proceedings St. Louis, Missouri — 1938, Page 288

Scan: The Lutheran Church—Missouri Synod
Transcription machine transcription, uncorrected

288 Financial Matters

L. PERMANENT SUPPORT FUND

RecEerts

Addition to Fund: 1932 20 eeeeeeeeee $8,453.59
1933 _- 7,096.33
1934 ... 7,685.45
1935 .... 7,451.52
1936 ... 8,403.12
1937 8,673.27

Total additions 22.2.2. cece eects $47,763.28
Interest earned: 1932 ieee $5,980.62
1933 - 5,898.58
6,174.94
5,600.44
5,862.01
6,151.80

Total earmimgs oo. e eel cceeeeecee cece eeeeeeeeeee nee 35,668.39

Total credits 0... ccecccctes ceccecccececeeeeeeeceeeceneesereneeeeseee $83,431.67

Disbursed earnings to Board of Support account 35,668.39

Addition to Burd oo... cece cece eeeeec teeta $47,763.28

Balance, January 31, 1932 146,991.03

Bauance, January 31, 1938 20 $194,754.31

M. LEGACIES

During the last three years Synod, in its Legacy Department, was
the recipient of $152,177.52, the major portion of which amount came from
the estates of deceased members. The receipts fall in the following
classifications, which are here briefly defined.

A. First of all, there are LEGACIES, which according to our office
parlance are sums willed to Synod by its members, the testator specify-
ing that the amount willed to Synod should be profitably invested and
the earnings used for some general or specific purpose of Synod. Quite
frequently the testator designates the ultimate synodical purpose to
which these earnings should be put. Of late, however, Synod has been
receiving a gratifying number of legacies in which the testator merely
named the Synod as beneficiary, without further stipulation, leaving it
to Synod’s Board of Directors to designate annually the purpose of
such earnings.

B. By far the greatest number of items contained in our legacy
receipts are identified as BEQUESTS. In our office parlance, if a tes-
tator wills anything to Synod and says that the entire sum is to be paid
out for some general or specific purpose of Synod, such an item is
designated as a bequest.

C. In our listings there are a number of ENDOWMENTS. These
are gifts from the living, which are to be invested and the earnings of
which are to be used for the purposes designated by the donor.

D. FOUNDATIONS are similar to endowments, with the exception
that the donor has chosen thus to designate his gift.

E. MEMORIALS are essentially endowments, created from gifts or
bequests and dedicated to the memory of a person or persons.

F. Quite a number of items are listed as FUNDS. These items are
all in the same class with legacies and endowments, with the exception
that the testators, respectively the donors, have seen fit so to designate
their legacies or gifts.

ROE REN CRE RIE eID RET PT USM ELTA