These permanently restricted gifts are usually held in endowment funds. Undesignated gifts are placed into the Budgetary Fund. The Lord has moved an ever-increasing number of our members to remember the synod in their wills through bequests and other planned gifts. The costs to operate the planned giving ministry are recovered by an assessment on all funds that receive bequests or planned gifts, and on current gifts generated directly with the help of the planned giving ministry office. The assessment provides funding for most of the planned giving staff costs.
Transfers are movement of dollars between funds.
In certain cases gifts are received by one fund for the benefit of a program in another fund. Transfers are used so that revenue and expense is not counted twice due to the movement of dollars between funds. A complete financial report as of June 30, on all the synod's funds will be distributed to each delegate at the convention. Overall The scope of the synod's finances is demonstrated by a review of the important amounts shown on the audited financial statements dated June 30, 1998. The Budgetary Fund is the main operating fund of the synod and represents the main work program desired by the synod's membership.