LCMS Convention Workbook St. Louis, Missouri — 1975, Page 181

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ADMINISTRATION 181

Equity Account "B”
Jan. 31, 1973 Jan. 31, 1974 Jan. 31, 1975

Common Stocks $ 931,143 $ 934,575 $ 938,224
Cash and Temp. Invest. 12,926 22,678 27,226
$ 944,069 $ 957,253 $ 965,450

Mixed Account "C”
Jan. 31,1973 Jan. 31, 1974 Jan. 31, 1975

U.S. Federal Agencies Bonds ___ § 120,900 $ 120.900 $ 120,000
Utility Bonds —_ 862,217 862,217 862.217
Industrial Bonds __- 135,225 135,225 135,225

Common and Convertible
Preferred Stocks 494,328 494,328 494,328
Cash and Temp. Invest. 30,341 27,913 9,999
$1,643,011 $1,640,583 $1,621,769

General

Banks and trust companies in St. Louis and Chicago are
employed to render custodial services for the securities held
by each of the respective trust funds managed by the Board
of Trustees, and a trust company in Toronto is employed as
trustee for the Canadian portion of the Pension Plan for Pastors
and Teachers. The board meets at least six times a year to re-
view investments, to plan and authorize further investments
or changes in investment, and to consider and act upon policies
of the board or any other matter coming within the purview
of the board.

In addition, the board has had an intense interest in the
matters under study and recommendation by the Pension
Work Committee, whose report is appended as the last portion
of this report, and has kept itself continuously informed on the
progress of that committee.

The membership of the Board of Trustees is: Dr. J. A. O.
Preus, President of the Synod, ex officio: Dr. Milton Carpenter,
Treasurer of the Synod, ex officio: Dr. Martin E. Strieter (chair-
man), retired, former Chairman of the Board, The Rock Island
Bank, Rock Island, Ill.: Mr. Ralph E. Petering, retired, former
Senior Vice-President, Emerson Electric Co., St. Louis, Mo.:
Mr. Robert W. Selle, Investment Counsel Associates of Massa-
chusetts, 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

4-11

Report of Lutheran Church — Missouri
Synod Foundation

The Lutheran Church—Missouri Synod Foundation has
completed its 15th year, having been established at the San
Francisco convention in 1959 by synodical resolution. Those
who advocated the establishment of a Foundation were pro-
gressive laymen who also took an active part in getting activities
of the Foundation under way during the first vears. As informa-
tion concerning the plans was sent out, many members of the
church who had funds to invest came to the support of the
Foundation. The various programs offered provided ideal op-
portunities for members to set aside funds for the ultimate
support of the church’s work while receiving an income for
life from those funds.

The Foundation is separately incorporated and operates
under the laws of the state of Missouri in agreement with the
principles of The Lutheran Church-— Missouri Synod. Its Board
of Trustees is appointed by the members of the corporation.
who also serve as the members of the Board of Directors of the
Synod. The President and Treasurer of the Synod are ex-officio
members of the Board of Trustees. who meet at least’ once
a year.

The Synod’s Board of Directors subsidized the work of the
Foundation for about 10 years. Growth and development. how-
ever, made it possible for the Foundation to operate on a self-
supporting basis since 1969 so that an annual subsidy was no
longer necessary.

During the first few years of its existence the Foundation
operated with limited personnel. Even then the church and its

related organizations derived great benefit from Foundation
activities. It was during the past few years with increased staff
that extra activity and marked progress was possible. The total
of the various funds of the Foundation is now rapidly approach-
ing $10 million.

The various life income plans offered by the Foundation
provide a double advantage. First of all. the donor will have a
lifetime income from funds contributed. and second. he will
have the satisfaction of knowing that the church will eventually
have the use of these funds for educational and missionary
purposes.

Through the expansion and promotional plans of the Foun-
dation many more members of the church have become ac-
quainted with the programs, such as Life Income Agreements.
Annuities and Trusts. and have taken advantage of them. Yet
we feel that many more with modest means. as well as those
whom the Lord has blessed abundantly. will want to put a
portion of their funds to work for the church to assure expansion
of its mission work, once they are acquainted with the excellent
services the Foundation offers.

The members of the Board of Trustees of the Foundation
have been deeply concerned with its work and have contrib-
uted generously. not only of their time but also financially. The
following have been serving during the past few years and will

continue to the end of this calendar year, when the members

on the board will be reduced to 11 according to a previous
decision of the Board of Directors of the Synod: Rev. Martin
Brauer, Mr. Vernon Bryant. Dr. Oliver R. Harms. Mrs. Ewald
H. Mueller, Rev. Erwin L. Paul, Mr. Arvid Jouppi. Mrs. Harold
Rammler, Mr. W. P. Rucklos (honorary). Mrs. E. H. Ruprecht,
Mr. Ernest Balke. Rev. Stewart A. Burk. Dr. Ernest J. Gall-
meyer (honorary), Rev. Louis Grother, Mr. Richard F. Huegli,
Mr. Walter W. Kayser. Mr. Edwin O. Schiewe. Rev. G. C.
Schramm. Mr. Donald Snyder. Mr. Werner Stranghoener.

During the biennium the former Executive Director. Victor
O. Mennicke. resigned to continue his studies. Rev. David
Heino. who had been appointed Acting Executive Director.
was granted a year’s leave of absence to take a special course
offered him by the Chaplain's School in New York. The under-
signed was appointed Acting Executive Director until Pastor
Heino’s return, July 1, 1975, as Executive Director.

On Jan. 31. 1975. the Foundation had total assets of approxi-
mately $8.000,000. These assets are held in trust for the donor
and for the eventual benefit of the Synod and its affiliated agen-
cies. During the previous biennium the Foundation's assets
increased by $1.800.000. During the current biennium the in-
crease totaled $1,200,000. Gifts made to the Foundation are
frequently designated for certain purposes or agencies by the
donors. Gifts undesignated are distributed by the Board of
Trustees in consultation with the Board of Directors of the
Synod.

During the biennium two Dererred Giving Seminars we held
in St. Louis. with development officers of our various colleges
and seminaries in attendance. These seminars are on extension
of Foundation services and have been helpful in establishing
a cooperative program of providing assistance through the
Foundation for the various synodical institutions.

We are deeply grateful to the Aid Association for Lutherans
for having made available to the Foundation sufficient funds so
we could produce a new 10-minute film on deferred giving. The
film is being used at various meetings and conferences to ex-
plain Foundation programs.

Respectfully submitted,
Otto A. Dorn, Acting Executive Director

Report of Ad Hoc Committee to
Revise Bylaws for Budget Preparation

Resolution 12-13 of the 1973 New Orleans convention au-
thorized an ad hoc committee ‘to study the Synod’s long-range
planning, programming, and budget preparation” and to submit
their recommendations to the 1975 convention of the Synod.
According to the specifications of the New Orleans resolution,
the members of the committee were: The Chairman of the
Finance Committee of the Board of Directors, the Admin-