nineteen hundred and forty-six - Amazon Web Services

348 SOUTHERN BAPTIST CONVENTION
SECTION XII
THE CHURCH BUILDING LOAN FUND
J. B. LAWRENCE. Superintendent
The Church Building Loan Fund is a trust fund consisting of gifts made
by many individuals and churches years ago, most of which were memorials
to individuals. The Home Mission Board was made trustee of the fund, which
was to be lent to churches to aid in construction of new buildings, or in refinancing
debts on church property. The loans were to be adequately secured
and to bear moderate interest. After expenses of administration were paid
the net income was to be added to the corpus. None of the funds were to be
given away, nor to be used as a mission promotion fund.
The restrictions on construction are being removed, and as new buildings
are being erected by churches in the next few years, it is expected that all
of the funds may soon be back in use as aid in financing the church properties
as originally intended.
The debts of the churches have generally been paid off, and since new loans
were not available the funds have been temporarily invested in U. S. Government
bonds, of which the trust now has $1,116,023.50. It holds $115,716.78 in
other securities and property, and cash amounting to $127,870.96. There are
$186,926.18 in loans to churches. Many loans have been approved and as
construction proceeds will be closed. The total corpus of the fund is $1,546,
537.42. \
The fund is available for churches under the rules and regulations set up
by the Home Mission Board as trustee in keeping with the purposes of the
trust.
There will be great demand SECTION for church XIII loans upon removal of building
TREASURER'S restrictions and availability REPORT of materials. It is fervently hoped that churches
FOR will THE use CALENDAR good judgment YEAR 1945 in building programs, and not become embarrassed by
debt, as so many did after the first World War.
HOME MISSION BOARD OF THE SOUTHERN BAPTIST CONVENT
!• B - LAWRENCE. Executive Secretary-Treasurer
STATEMENT OF CASH INCOME RECEIPTS
January 1. to December 31. 1945
Co-operative General March Week
ct_. Program Designated of Prayer
. ReceIpts Receipts
ArLonT
Receipts Total
$ 4 H2HJ $ 9 ' 602 -26 $ 27,313.84 $ 78.197.37
^.-=r.:.:v:..:v:=:= i : MJKJ ,«}«• JSfcg
S^"OS-K••:::::::::::::::::::::: ,. ;f| J>a: '": 9 « iBKS
G S ? l 8 ilHnols
til*A*
H'
5.244.98 19.447.25 63.645.93
8 ,¥A°. 10.517.79 84.070.18 96.455.87
KentTckv ll'HV 9 A M96.U 6.616.74 23.142.81
LorisfaM ll'UMl 15.836.26 17.490.64 106.892.31
S"? 32,604.86 3,796.16 23.979.36 60,280.38
Mississippi JiltH 704 " 36 315010 12 789140
Srfc^ 8 ? 41,927.61 10.540.06 30,644.99 83.012 66
New Mexico *°A^H 8 ' 612 - 40 20.250.55 64,848 08
XT *u n i- 4,212.29 1,534.52 2,394.20 8 14101
North Carolina 82,451.43 13.860.33 41.418.33 13773009
c kl ! h T a ,. 34,066.81 10.963.39 17,096.86 62 12706
South Carolina 66.168.86 3,759.02 28.422.35 98 35023
Tennessee 92,374.48 12,201.95 26.903.34 181 47977
T^as 94,811.32 14,128.90 83,617.89 192558 11
Virginia 91,166.03 3,392.60
Miscellaneous Total $828,767.80 $125,511.90 $468,984.90 317.28 $1,408,214.60
130.15
52.983.68
1.074.45
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