nineteen hundred and forty-six - Amazon Web Services

454 SOUTHERN BAPTIST CONVENTION
EXPENDITURES
Annuitants' Benefits
Old Annuity Fund $ 276,933.20 $ 270,223.96 $ 6,709.24
Special Annuity Contracts (Lump Sums) 10,721.10 9,784.07 937.22
Service Annuity 1,856.10 1,749.54 106.56
Age Security 1,082.28 447.04 635.24
Orphanages 15,378.72 13,082.16 2,296.56
Foreign Mission Board 42,955.17 43,082.34 127.17*
Baptist Boards 26,490.16 22,133.32 4,356.84
Educational Insti. Pension Plan 1,604.58 121.74 1,482.84
Ministers Retirement Plan 297,490.62 264,401.90 83,088.72
Savings Annuities 8,666.09 6.901.56 1,764.53
Relief Benefits 179,094.20 142,215.36 36,878.84
Total Annuitants' Benefits $ 862,272.41 $ 774,142.99 $ 88,129.42
Cash Withdrawals
Old Age Annuity Fund $ 53.55 Cr. $ 336.01 $ 389.56*
Service Annuity 180.00 180.00
Age Security 2,586.97 1,257.75 1,329.22
Orphanages 4,614.15 4,339.64 274.51
Foreign Mission Board 1,640 00 2,045.00 405.00*
Baptist Boards 12,130.59 9,583.17 2,547.42
Educational Institutions 5,076.61 7,781.86 2,705.25*
Ministers Retirement Plan 14,406.22 11,607.19 2,799.03
Savings Annuities 14,423.00 13,649.90 773.10
Special Deferred Annuity 2,268.37 119.86 2,148.51
Special Deferred—Educational Insti 44.00 44.00
Total Cash Withdrawals $ 57,316.36 $ 60,900.38 $ 6,415.98
Gift Annuities—Funded
Relief and Annuity Board $ 15,937.36 $ 13,555.34 $ 2,382.02
Foreign Mission Board 15,815.41 16,580.14 764.73*
Home Mission Board 2,166.05 1,979.99 186.16
Southwestern Bapt. Theo. Semi 60.00 60.00
Total Gift Annuities $ 33,978.82 $ 32,175.37 $ 1,803.45
General, Promotional and Adm. Exp $ 107,758.59 $ 102,193.31 $ 5,565.28
Refund to States M.R.P. (60% of % of 1%
of Salary Bases) 16,968.39 15,003.95 1,964.44
Loss on Sale of Real Estate 5 457 73 5 457 73*
Operating Expense—Home Office Bldg 16,103!96 15[893!35 '21o!61
Real Estate Exp.—Foreclosed Properties 231.93 602.23 370.30*
Total $ 141,062.87 $ 139,160.57 $ 1,902.30
Total Expenditures $1,094,630.46 $ 996,379.31 $ 98,251.15
Excess of Income Over Expenditures $1,581,820.71 $1,140,488.67 $ 441,332.04
CERTIFICATE
We have examined the accounts of the Relief and Annuity Board of The Southern Baptist
Convention Dallas, Texas for the years that ended December 31. 1945, and December 31,
1944 and the statement of Income and Expenditures for said years. We examined the documents
on file with reference to mortgage loans; stocks and bonds were examined by us and/or
confirmed by direct certification by the banks which are custodians. Stocks, bonds and real
11 «rw T?7?M7°n ^ CS - Th /*S U ? fa £ mapk f* value of stock8 an d °°nds at December
31, 1945 was $575,437.11 in excess of their book value at that date. Cash funds were verified
by count or certification by the bank depositories. Investment earnings were credited to reserve
accounts on a three and one-ha f per cent (3%%) basis for each of said years. The
General Contingent Reserve was credited with the excess of investment earnings over the
amounts creditd to all other reserves, except for the year 1945, it was also credited with the
entire earnings on the Relief Reserves.
In our opinion, based upon the examination as stated above, the accompanying Balance
Sheets and statements of Income and Expenditures fairly present, in accordance with accepted
principles of accounting consistently maintained by the Board during the vears undfr review
the financial position at December 31. 1945. and December 31, 1944, and thf"^"* of operl'
tions for the years then ended. -^umo ^ «y