P cific L Itherau College Bulletin Pu�tlsh.ed Ituarterly by- Pacific Luthen.n CoIlI!!8t: at Tacoma find Pukland, Washington. 1econd-d3.5s m atter pril 26, 1927, at me poIto£fice at Tacoma, Wa:,;hington, under the- Act of August 24, 1912.
TWELVE
YEARS
IN
u
No.4, Part I
F BRUARY,1941
OLXX
Entered
RETROSP ECT
Pacific Lutheran CoI!ege, as a cooperative intersynodical enterprise and as an institution facing immediate decision in the question of becoming a full four-year colle ge of Ii
ra l arts in addition to its present organization, in this issue of t he
BULLETIN offers its supporters detailed information in r eg ard to enrollment, growth. and financial operation and status during the twelve years endin g July 31, 1940.
Most of this information has been made publ ic previously. especially in t he
August is ue
of the BULLETIN, but the information is here presen ted in tabular
form in order to make trends ev ide nt and th.e picture as complete as possible w ithin reasonable compass. Table I shows the scope of the educational program of Pacific Luther:<ll Co llege through these twelve years, also the distribution and the growth of the student enrollment ye ar by year, from 187 in 1928-29 to 445 in 1930-40.
Table II is th
basic statement of financi�l condition, showing assets and liabilities and the surpl us
o( the former over the latter, al s o endowment and other funds and the capital investment.
Tables III and IV break the current assets up into several descriptive
�tegories, and Table V docs the same for the. fixed assets.
Table VI shows the
relation between assets and liabilities and indicates how the laner were incurred, with resultant ope ratin g gain or loss year by )'ear.
the
natUre
fmancial
Tables VII and VIII analyze
of the indebtedness in terms of types and indicate the nature of certain
e f forts.
Table IX shows the nature a nd growth of capital investment, now
totaling more th an half a million dollars. endowment fund, which is
al mos t
\'V'ith Table X the attention turns to the
wholly the result of the effort made in 1927.
Table X gives the record of collections, which shows the effect of the depression,
and also the a mount set up as a permanent fund in harmon y with the. terms of the. pled ges.
Table XI reveals the basic investment policy, and Table XII shows the
relation of the endowment fund to the C oll ege ' s total investment in bonds. Table
XIII show s the resultant endowment fund in co me in det a il , and Table XIV the annual interest return. Table XV shows the use to which the endowment income wa·
put, and Table XV! the extent to which certain trust funds, o wned by friends
of the College, contributed to the e arn ings of
the
endowment investments by
p�rticip Clon therein, a factor of vital significance in the deepest depress ion years.
\:'1ith Table XVII the attention [Urns to the data on operation, Table XVII being .he basic table of opera t ing income.
Table XVIII breaks up the income from
s[Udents, and Table XIX reveals the so urces of minor items are shown in Table XX. detailed
a
cJ interest, a nd general
ex
e
support.
Miscellaneous
Tables XXI, XXII, and XXIII offer a
naly si s of c ur rent operating expenses by year s.
cl;ttates between net total operating
The
church
Table XXIII also differ
xpens es, expenses for debt service in the form
penses for field se rvice .
fundamental principles
Pacific Lutheran
underlying the operation of
.o[[ege, as agreed upon by the trustees and the administration In 1928, endorsed by the corporation in 1929, republished in 1934, and reaffirmed by the corporation :/1
1935, are the following: A.
First thi ngs first (Mart. 28,19.20; Matt. 6,31.33).
B.
Accredited work
C.
Pitiless publicity (John 18,20).
D.
Rumor-destroying field service (Prov. 18,21; James 3,8; Provo 15,4).
F..
Luth era n cooperation (Rom. 12,11i; Hebr. 13,I).
F.
No backw:trd mp (Mri.tt. 28,19; Luke 9,62; Jer. 7,23.24).
o
nly (Rom. 14,18).
The record revealed in this issue of the BULLETIN represents a consisten t effort to carry on at Pacific Luthe ran Coll ege under the guidance
of
these
p r inciple s in ha rmony with the \Y/ord of God and in this spirit to meet the d·.�l11ands made upon a gro wi n g insti[Ution from within and from without.
Table I
ENROLLMENT BY YEARS AT P. L. C. Colil'ge Divisioll Coliege ear
ll�ndiug
�r,ilJentl Arts___ Soph. :I<'/,.
li/ 5/2!)
!l
Iii 4/30 iii 3/:11 li/ l/:l� 5/2!l/:n (i! �;:H Ii/ 3/:3" Ii! tj:1fi Ii/ 7/ 7 li/ [i/:! 6/ 5/3!) Ij/ 1/40
14
TI,,'
10
Sp. S.S.
22 18
• G
21
8
_..
:Hl
:10 3:1 42 37
4
-\
:�()
4
7
41
7
5
14 7 .\J
� (i �
52 55
6:1 71)
5(; 7!
71 87
::1 :�
7
22
55
:11 18 2!1 20
-l:, 40 5� 59 (i4
Soph. I' r.
24 :i2
()
.l
.
28 28
(i
fiG
.
2
4".)
4
2
r-Higll School lliviHioll"
Education
9 20
20 21
28 30
Sen . J lI n
2 ..,,
0[
�(Ol' �orll1al Dept.)-.
10
!J9
47
Sp. 8.S.
2 ()
Ex l.
1 (i In 1i;
Sen.
12 21 22 11
17 19 15 20
13 16
10 15
0
62
48
0
n
10
l:l
4.
0
40
29
48
0
43
13 7
4(;
43
fi�
3R
,,9
2 -I
1:1 13 17
0 5 :l
45 49 49
GG
G�
12 11
55
total en r ..llmenl fflr 1910·41 " ill be in till'
39
Coul'se�-., SC & :\ct .JUIl. Soph. Fr. Sp. Total
�Heg.
14 11
7
Ul 2H 25 18
22 15 32
5
18
"
1\ 1'1 - .) 12 14
11 8 1) 10
7 4 S
9
D
7
G
:i
16 HI � 13
Ilt'i�111)()rllt)()(1 of
] oJ
12
R
18
n "
G
Ill. 21'1 2')''7 . .) , 2(12 2G-l 2�1 291) ;,02 348 :)oR 414 445
SOO.
Aldnf'viat itlllS: �·'�n .. St-'ni()r: Jun .. .J un ior � !"oph .. �ophnmon'; I�r.. F'n,:..dllllan; Sp .. Sp,'rial; S.S., �lIIl1mer Sf'��illn ; [XI., Exl(�n�jon : Sc. S h o rt rflllr�(·.
Table II
FINANCIAL STATEMENTS Y
ar
F:ndln
'I/31/�,�
FROM YEAR TO YEAR.
1928-1940
ClllTPnt
Fixed
Indebted-
Assets
Assets
ness
Surplus
$1fi7.776.S3 211.34
$51,654. 0 4
$268.987.27
24,919.86
31,044. 04 ----
76,573.9 0 1� , 048.42
3119,03Ul
111-
Endowment
Capital
and Funds
\'es tments
$14.92�1.14
202,404.09
*49,556.40
6,573.02
8,551.1(;
14,912.84
21 ,502.16
210,955.25 11,219.86
64,469.24 10,626.45
167 ,988 .17
-:,50. (;1 20,951.5-
222,175.11
95,622.,]2
338,748.9J
12,455. 2 1
75,095.67 31,811.8G
168,030 . 99
18.923.65
-43:1 .00
14,652.37
46,031.2�
39.875.20 7,090.3Ii
:!34.63 0 .32
106,907.5:1
167,597.99
1 10,27 4.69
384,780.21
4.GO;1Sl
11 ,593.39 -- --
0.00
9,306.45
20,900.34
7/:Ui29 'i'j:U ' 31) 7/3 1/ 3 1
42.8�
29 , 717.6 7 -..---
46,%5.56
239.133.85
118,501.42
167,597.99
119,581.14
405,680 .55
-4.002.67
234.1�
11,619.26
-15,387.80
8,085.54
4 ,317. 00
42,962.89
239,367 . 98 843)H
130.120.68
152,210.19
-19.43�.ij5
12,127.32
-30,723.43
127,666.(i8 2 . 044.9 4
-16,551.17
23,522.94
240,211.82
142,248.00
121,486.7(i
129,71] .62
393,446.38
-2,959.07
941.97
-18,005.57
15,988.4 7
:3,989.(;7
1,972.57
20,563.87
241.153.79
124,242.43
137,475.23
1:33,701.29
395, 4 1 8. fl 5
719 . 82
3.957.66
3,573.70
1,103.7�
5,7G8.15
10, 445.63
21.283.69
245,111.45
127 ,8IR.I;�
138,579.0 t
139,469.44-
7 , 97 2.4 9
2,534-.24
10,047.51
459.22
34,821.40
405,864.58 45.:328.13
29,256.18
247,645.69
137,86:3.64
139,038.23
174.290.84
451,192.71
1.257.35
,558.64
8,098.15
1,717.84
32,459.38
42.275.37
30,513.53
256,204.33 3 .015.27
145.961.79
140,75G.07 1,296.87
206,7GO.22
3,611.51 34,125.04
2ii9.219.60
151,291.70
3,4G5.47
5 ,2 98.77
142,052.94 0.00
219,085.34
1,S33.:W 35.95 8.34
262,6 5.07
156,590.47
142,0,,2.94
225,91L 2
7 /31/3�
7/31/3:�
----
7/:n/34 7/31/3"5 7/31/;l!; ,/31/3,
7/,'1/3 7/31/ 3
7/31/40
5,:329.91
109,997.55
-'-- -
12,335.12
6,826.48
524.:'55:;.2:1
IiASlr.· Fl:VAIVClAL lJOLlCY 1. Capital investment jor the impwv<!!1lCnl and develo['!Il('lIt uj the s ·f/Oo[ "lemt be made by jriend oj tl! school. lilmll[.(il the Paciiie !,lltheran Colfege Development Association (Slogan: "At I('(/-,t. a dol/ar at [('(/sl OnCe a year") or otlterwise. shall
2. One half oj the endo/unent income shall be used for Cllrrent operatillg e:t /Ien.e'. (111d one halj f or amortization oj elldou:ml!nc campaign expenses and Ihere· a/ll'r for debt serllice. :I. T h e 1/1;"
D
currenC operating
church
dejicit shall be II/<'t by lIfJllf'OIlfiations jrorn the cooper-
bodies .
.Host depart""" from this policy Iwve been caused i>)' Iii I' thirlies and by the p.lychologica[ conseqllellces oj the depressioll.
depressioll
0/ the
Table III
DISTRIBUTION OF CURRENT ASSETS YEAR BY YEAR AlJVl'opriXot.eR
Date
ash
'i'/�1/2�
.1i1G.2G :1,l5S0�
7/U/29
'iIn/:]o 7/:111:;[ 7/:11/:32
7/,11;:1:;
7/�If:14
7/31/:V;
7/:n/ ,;fi
7 ;:11 ;:l7
3.7,3.:34 27.24 3" OO.GS ] 5.215.2.3 19,015.81 -16,454.1,6
ations
Aet:ounts
,Iliseel-
Reeoivable Iteeeivable Reeeivable Inven torie>l ;2.721.70 $ .OOa.27 " 1,iiOO.On � 1,18R.l7 1.9(;2.0(; -2,720.87 -1,500.00 :3 8 8.7 3
1,5 7G.9U 20f).70
IUneous
.900.74 5.285.0� h,1,,5.7!;
21.502.l!1
-UG AfJ
-5h11.1iJ
4,GR:3.76
5.282.4li
0.00
47S.8�
505.12
0.00
5,162.!iR
5,7�7.52
(1.00 0.00
1,78:UiO J fiO.27
4,417.27
0.00
I ,943.�7
4.971.2!·j 1,071.82
2,18U7
7,349. 5 5.802.H9
14,789.G8
L29.SfJ
Total �H,()2!1.l4 (;,573U2
554.02
:1!J,S75.2IJ 7,0\10.3(;
2.56l.J5
13,lf>2.54
S,:145.41
14,789.(j,
2,(l73.G'
G,043.11
4(;,%5.5(i
-9:l.9!l
1,1 5 1 .9 4
-·a,599.7!)
3,017.:31
9.32
--4,487 .4 6
--4,002.1i7
14,;104A�
.) ,74 5.6 2 I. i:lO.4 0
17,806.!HJ
2,0 2.\19 -:3(;4.ii7
1,556.65
·[2,9(i2.<!l
545.69
-19,43!U15
2.4G 7. 1 6 -L,3r,j.7!l
-1 . 8 7!1 . :l 5
-
17 5 20 :l3 .
.
28f;.G[j -2iHi.lHi
2;1522.fJ4 -2,9S�.07
3,805.0:1
0.00
20,5(;3.87
8tiUS
0.00
7 19. R 2
1,115.37 508.21
12.125.13
5,876.02
-711�.29
-l.0xO.\J�J
1,62:l.58
11.719.84
9!)!1.5H
-li7!i.SO
2,623.17
11.044.04
4,762.41
0.00
1.188.45
708.67
-(i90.4G
1,1:;8.70
:l
6.5!)
-60.6\1
:U:l1. 4 l,!J(iU
10,;153.58
5,801.11
386.59
-920.20
:386.5!)
5.293.22
10,290.75
4,90.91
1,280.14
1,liifJ.75
1,947.45
0.00 0.00
1 1,4 4 (;.50 -2,299.92
6,n .31l 1,7G7.�(j
0.00
9 .1 � 6.5R
R,69fi.22
0.00
6,573.36
2.128.14 S,701.50
-62.S:1
0.00
1.665.62 6,48!J.6S
�1,2S:l.G9 7,972.4n
1. 127.76
8,15ii.:lll
29,2fi(i.U:
261.4 7
404.12
U!57.3fi
1,38!l.23
8,559.42
aU,513.53
4:1.87
--S15.70 .--- .
-1,4:nl(l
7,743.72
:13:1.14
-95.92
J ,766.24
7,647.RO
a,611.5]
- --34,12ii.O
l.8:l:1.30
35,!l5S.:14
Table IV
DISTRIBUTION OF
MISCELLANEOUS CURRENT ASSETS YEAR BY YEAR
Date 7;:3 1/ 28 7/al/2!l 7/31/311 7/31/31 7 /3 1/3_ 7/�1;:13 '7/3 1 / 34 7 /:1 1/ 3[; 7/31/,16 7/31 '37 7/ 3 1 /�1 8
7/:11(:l9 7;:31/40
Student
Unexpired
Organiz. $ 75 7. 3 6
Insural1l,e Items $143.38 $ 4,253.17 G37. 0
1,294.7�)
G�4.97 450.66
DefeITed
...
528.:!:1
282.4fi
.__ .
.
3,1!)7.3:3
1,260.00
1,020.00
532.75
1,000.00
214.09
1,885.00 1,487.5(;
l S 0.01
4 S5. 6 1 246.44
1,00 0 .0 0
G53.21
2,108.47
fi84.n
1.570.%
-117.4�
1,714.�):l
741.74 721.BO 759.44
:1,052.84
Sccul'i tie;; $ ........ .
$
.. . .. . . . . 831.54
22.90 2.2ii
IlllJ.02
Herald
:1.264.07 3,141.64
565.78
fi04.93
.Pac. Lutl!.
. . ... . ... 2(;5.00
Total
$900.74
Fund ssetH 'I'-
(i,185.7G 4,417.27 4.n1.2!) 6,043. 1 1 1,555.65
2,1()J.;34 2,092.49
4,756.00 4,756.00 4,756.00 4,756.00
1,665.62
:193.52
S,155.30
485.55
R,559.42
590.34
7,743.72 7.64 7. 8 0
593,8 fi96.!lf>
Table V
DISTRIBUTION OF I NCREASES IN FIXED ASSETS FROM Y EA R TO YEAR
Year
I':nriing
Real Estate
7/:J1/:H
[�quiplllent $17,3.52.00
�11.1�
G,:)(i3.27
L 0,000.00
;'.1G8. 0
4,4Ci5.19
47G.S4
2,!J80.77
1 4,465.1� 4,799,16
1,341.9t\
189,264.35 202.33
14.854.82
1RD,466.G8
13,512.34 71:11/32
Buildings
�180,OO().OU n.ou
�;;,052.09
7/31/3U
Library Additions
$
0.00 1,252.77
Inclehtetine::l::l Due Library lu Investmenl in A set· Bldg I<'lInd O.OU $ 0.00
�41,712.6S
1,25:3.77
0.00
(J.na
11.1l0
1,10:1.03
24,815/)5
�,362.cO
0.00
3,714.48
9(iO.80
O.on
28,5 29.53
:3 , :3 23.6U
0.00
6,9S6.21
24,:138.21
1 . 1 3 8 . 27 1 , 8 20.9 5 ---- ----
0.00
o.ou
�(),a50.48
4,461.87
7/31/33
20,47
O.OU
47.50
166.1G
14,S75.29 533.• 8
189,466.68
30.397.98
4,628.0:;
7j:11/:H
0.00
264.55
15.409.07
189,46().6R
:lO,662.53
4,(;73.54
605.46
0.00
40.00
236.51
0.00 n.Oo
J.(;,07C3 l,983.0U
1 �8 ,4G6.6S I) .OU
:10,702.53
4,910.05
0.00
1,442.38
532.28
0.00
18,057.53
1 '9,466.68 0.00
:�2.144.91
5.442.3:�
0.00
90050
804.2S
22,G75.31
18H,466.G8 (),464.2;;
33,045.41
0,24l1.61
22,675.31
'j/ 2 1/:1 (; 7/�1j:17
829.46
1, ,886.99 T/31/as
244.00
-
7/31/40
0.00 lLOO
--- -----
316.23 _. _---
7/31/3 !!
45.�1
0.00
1.534.16 ----
GS.;'3�.il
72.116.25
3 7 , 9 74. 33
H),130}]9
195,930.93
33,361'(;4
7,780.77
GO,649 .64
371.(11
:350.(;8
1,427.61
865.97
12 . 172.7 3
19,502.00
196,281.61 25.85
:l4,789.25 1,04:3.23
R.64G.74 SOO.7:;
72,822.37
1.695.G4 21,097.64
196,307.4(;
3 5, 8 32 .48
9,447.4n
79,06 Ji7
,4.044.'!J 90,G4G.5i
G,24G.:3U 94,620.6�
Of th .79.06R.67 paid into tht: Library Buildin:!; Fund by July :ll. 194U. Ih .. '11111 of ,61.391.:36 had been usP.d fur actual building C("l�trlJCli()n. The Library Buildin;,; hu, lwell (n partinl u"p �in('e �Iay t, 1939. and "ill e<"t all,,"t .�lOO.OOO.O() wben "omplded.
Table VI
A NAL YSIS OF A SSETS AND L IABILITIES Duo Yt'Hl"
Enning
$217,33:�.23
Surplus $167.776. 3
Liabilities
7/31/28 7 /:�1/29
2:l2,457.41
167 ,98S . 1 7
64.4li9.24
7/3 1 /30
2 43.1 26 . 66
16S,n30.9fl
75,095.f)7
As
els
to Inv. to Du Operation in Asset R
$49,556.40 22,756.5G
<:3,5/3.74
7/31/31
27<1,505.52
167,5f)7.99
106,907.53
24,378.80
7/31/32
28fi,099.41
16i , 5 9 '.!! 9
118,501.42
2 5 ,5 8 0.90
7/31/33
282,330.87
152,210.19
1:30,120.68
40,%8.70
7/31 / :l 4
263,734.76
121,486.71l
142,248.00
71,6!J2.13
Y ar'� Operation Factors Gainor Loss "'hier
�l.D21.n S2,526.7:l
Chem. Lab.
BioI. Lab. 9 2,9 2 0.52 Unpaid A pp rop r . S9.151.98 Herald & : . 49 1 .1 5 D Op. Dericit 70,555.87 Canc ·i1ed
1:37 ,475.2:�
124 ,2 42.43
55,703.66
6S,5�8,77 APPI'OPl'. Reinst81ed
7/31/3()
26G,:l!l5.14
138,57!1.01
127,816.13
55,699.34
.2,116.25 Real Est.
7;:31/38
2Sfi,717.86
139,0:18.2:3 140,756.07
137,8G3.64 14 5 , 9 G 1 . 79
61,�17 .00
7,5,946.64
7 / 31 /40
2 9 3 , 34 4 . 64
142,052,94
288,64�.41
142,052.!J4
151,291.70
Accred.
:�.7g r..n'.12D
Op, Deficit 61,917.00
84.044,79
Girls'
GO , 6 45. U
90.646.57 Equipment
Library 156,590.47
1,407.63
Equipment
Dormitory 7/31/39
11,951.350
Pl'·
APPI'
261,717.66
276.901.87
es�
Rmt.! Est.
Pl'es. Re'. Pres. Res.
7;:n/35
7 ;:� l/:l{
fi�l] .3-1
4 1 . 7 12.6 8 ACCl'od.
61,969.79
1,27 l.�'
94,620.68 Equipment Real
Est.
AeeREDITATIO.1\' OF PACIFIC LUTHERAN CO Lf.tXL· The Academy. or High S chool Diri,sion, is accredited in· the State Un(url 0/ Edu· Clition (II"I has ailra ys enjoYed S!lch accredited status.
The janior CvlLege Dhision (Liberal Arls COl/UfS) gained its accreditation at the University oj Washington in October, 1929, and jrol/l Ihe North,"est Associntion uf Secondary rwd Highpr S,.hools temporarily on April 8. 1936. alld permant'nt h 011 A pr;i ?, 1Y.�7. Th· College oj Education Icas approved as {/ jour,year teacha·l{rlining institu· tion by th,� 'tate Board oj EdllcatiJJn o n JUlie l/:i, 1940, slIbject to inspeclion in 1941 and 1942, By the Norl!",.""t Associatiun oj Secondary (Ind Higher Schools Pacific JAllheran College was accredited liS (l Ihree'year normal school on the rlnti'S gilJen ill
the preceding prrragraph.
Present go"l: Senior Collt'ge oj Liberal Art.' with jill!
a(,creditation in l'ln.
Table VII
NATURE OF INDEBTEDNESS Whereof
Year Ending 7/31/28 7/ 31/29
7/:n/30 7 /31/ 1 7/:1 1/32 7/31/33 7/31/34 7/31/35 7 / 31/36 7/31/37 7/31/38 1/31/39 7/31/'10
Accounts
Notes P.
Salaries
Banks $....... ...... $ ....---------. &
Payable $1,004.68 1,267.51
..
3,355.74
18,144.80 �6,160.09
2,000.00
5,335.69
11),000.00
24, 664.38
11,627.11 13,493. 9 15,463.42 9,36 6.50 10,358.02 10,167.89 14,360.68 15,185.84 10,703.82
15 ,000.00
22,277.05
28, 344 , 20 1 9 ,576.32
20,287.21
33,932.64 29,101.94
31,428.86
3,3100.43
7, 1!)1.73
25,000,00
_.--0 .......•..•
.
-------. __ ._ ...
.
.
- - --- --- -- - .- -
.-- ----
l�. Kates 1'. :\uL s P. c\u:r. Int. lndivid. !\. L. Ch. A. End. Fund Otiler �23,664.00 �10,OOU.OU $ 13 ,469.2 4 $1. .J1�.48 10,000.00 2G,07S.36 9,072.7ft 6. 50.-S 10,000.00 5,712.7(i 27,854.00 3,;.1 '4.11 38,624.UO ;3 ,0 0 U ,00 :1,124.43 ,999.01 38,439 ,53 lL1,89�I.f� 5,OOO.UO 24,4 97 , , 3 3 3, 203 .47 57 , 062 2 1 15,117, ,95 2,500,UO 37,757.2 1 2,60U,UO 5S ,!;I 95.55 14,6�1.04 31,373.84 61,455.78 1 l,�36.49 Notes.
Wages
- ----- ..
.
:l3,375.11
62,4.58.53
3 9,6 8 2.58 40,890.40 3,500.00
1l,695.�:3
63,013 .9 • 62,5;;3,82
29,760.72
.
--- -... .- - ---_ .
41,94(;.%
11,156.31 14,623.45
15,3 0.1:3
63,622.31 li4,(j2tJ.40
13.42:).2G
Table VIII
NATURE OF INDEBTEDNESS SHOWN IN LAST COLUMN OF TABLE VII Year
Ending
Accrued Interest
Mortgage
Prepaid
Payable
Appropr.
$ ......- ..
.. .
7 / 31/28
$540.90
7/31/29
2,009.17
2 500.00
1,218.60
._--------------
( /31/30
7/31/31 7/31/32 7/31/33 7/ 31/34
843.19
883 82 ,
1 1 59.77 ,
1,190.16
$................
-
.. ....... �- . . ...
-
llres
3,679.82
1,266.01
3,20D.!l9
3,3 4.11
.
2,871.81
3,846.71
...
2,517.66
3,327.14
.. . . .
:::,745.34 3,286.92
1,4 86 79
3, 014.81
2,68 .2U
98 1 .39
.. ... . _--.
1,100.00
!!
2,170.0 0
1,930.55 873.09
2,5 20.0 0 2,520.00
7
476.52
2,5 20 00
299.73
2,467,00
1,327.90
029.57 5,2�Ul
.
.
... . . .. . . . . .
6,3U5.22
2,�48.n
-------------_ . -
hove
1,541.41
._---
4,5QO.OO
810.30
.
2,165.51
,
4,500.00
,
Total aH Shown
-----_ . .. . .- . . _ -
. . __ .....
.
3,340.46
.
Other Current �S7, .5�
---- .. _.-_._ .. . .
.
..
..... . .....
....
1 0 61.38 856.01
Debent-
�1,41S.4k 6.050.08
-----_
,
355.94
7/31/35
7/31/36 7 / 31/3 7 7/3 1/38 '1/31 /39 7/31/40
.. .
Funding Plan $....... . . . Ins.
,
.
S,99[!.Ol
3 ,0 60. 69
IIJ,899.78
3,116.08
14,ti.�1.04
2,099.66 3,445.92 :1 ,24 6. 48 3,649.3 8 3,9�9.13 3,837.25
4,�lH4.n3
15, 77.95
] 1, '36.4!) 11,G95.:J::l
11.156.31
14 623 45 lS,30U.13 ,
,
1::l.i23.2G
Table IX
ANALYSIS OF CAPITAL INVESTMENT Year Enuing
7/:31/28 7;:31/29
Valuation
of
Assets
Library
Other
Bldg. Fds.
Funds $ .........._.
$217,333.23 $ ....
...
. . . .....
232,457.41
. . . .. .. . ... . . ..
7/31/36
243,126.66
..............
7/31/31
274,505.52
............... .
7/31/32
llS6,099.41
7/31/33
282,330.87
7 13 1/34 7/31/35
263,734.76
..............
261,7 17 .66
. .. _
,/31/36 7/31/37 7 / 31/38 7;:31/39 7/31/40
.
.... .
. .
..
.. . ..
.
.
.
22,675.31
485.55
60,649.64
590.34
293,344.64
72,822.37
593.89
79,068.80
596.95
�98,643.41
Wilereof
393.52
Capital
Illves tnHo'll t
in Trus t
for
ear
�51,654.04 $ ... ..... . .... . $268,987.27 $............ . .
95,622.32
266,:195.14 276,901. 1 28 6,717 86 .
Funds
.
76,573.90
..
...... ... _
Endowment
311,U44.04
338,748.98
29,71H,
110,274.69
384,780.21
46, 31.23
119,58U4 127,666.68 129,711.62 133,701.29 139,075,92 151,129.98 145 5 10 24 145,669.08 146,24fL07
405,680.55
20,900,34
,
.
..... "....
.
309,031.31
6,853.95
403,14:1.60
2,491.45D
8,213.58
385,2:�2.80
l',fl5 .3llD
10,953.75
384,465,20
15,66l.!;1 S
390,202.61J
26 ,728.34
424,4(H.37
20,89 •.69
4Ul,332.2U
20,360.97
504.HI4.26
20,901.20
472,566.8S
'S'.60D
5,,' 7.40 34,261.71
48,lU2.51 1 ,76 Al 12,861.97
Table X
RECORD OF ENDOWMENT F UND COLL ECTIONS Pr
Year Eneling
7/31/28 'i'( 3 1 /29 7/�1 1 /30 7/3 1 1:)1 7/31/32 7/31133 7/31/34 7/31 /35 7/3 1 /:16 7/31/37 7/3 1/38 7/3 1 /39 7 / :l 1 ! 4()
Paid In
viollsly
Paid In
l)lIring
ToUt! Amollnt
Year
90.085 .77 1 1 2 ,494.22 129.734 .92
$29.3 1 6 . :1 1 22,408.45 1 7 , 2 40 ,70 10.928.76
1 40 ,6 8 3 . 6 8
1 .448.94
14 2 ,132.6 2
S06.25 1 , 470.00 78 4.00 1 . 1 62.00 244.00 191 .00 1 , 3 1 0.25
6 0 . 7 (i!l.16
142.938.S7 1 44 ,40 7 1 4 5,192.87 14G,3;;4.87 1 4 6 ,598.87 146 .789.87
Trans ferred
To Oper a tion
Paid In
� �).115.42 13.51 1.87 1 6 ,87UJO 1 9 .460.2:{ 21 .102.54 21.319.89 2 1 ,440.8 3 2 1 , G 6 1.33 21,778.9:3 2 1 .953.2a 2 1 ,989 . 83 22,018 .4); 22,215.02
$ 60.769.46 90.085.77 1 1 2,4a4.22 1 29 .734.92 140.683.(i8 142.1;'12.62 1 4 2 .9;�8.87 1 4 4.408 .87
1 4 5 , 1 92.87 1 46 .3 5 4 . 87 146,59K87 1 4 6 .7Sn.S7 1 48,100.12
P�'rl1lant'n t ( i)% J '.
Balan<:
� l .il;;4 . 114
7 6 . 5 i a .90 f!5.G22 .:32 I J O.2-:-4.fi9 ·1 1 9.5�1.14 1 2 (j . � 1 � .i'3
1 2 1 AU8 .0·j 1 2 2.'i' � ; . � 4 1 2 :{. 4 1 :3.�14 1 2 ",401.64 1 2 4.6U9.04
1 2 4.'1l .3�J 1 25., S5.10
Table XI
RECORD OF ENDOWMENT F UND I NVESTMENTS
Da te ./3 1 / 2 8 7/31/2!J 7/:31/30 ?/31tH 7/:H/:12 7/31 / 33 7/:n/34 7/� 1 /35 7/31 / 3 6 i ;:n/:l7 7/31/:38 7/;] 1/39 7;:3 1 /40
Loans To
Invest.ed In
1'. L. C. $13,469.24 fl.072.79 ii.712.76 3 . 1 24.43 24.497.73 57.062.21 5S.995.5S 6 1.455.78 (i2,4 5 8 . 4 8 63,OL3.97 G2,553.82
Bonds
Real
$
0.00 29,341 .96 52,258.20 (;1.401 . 2 1
$
fi 8 ,997.55
32.427.37 32,828.36 32,683.:n :12 ,468.61 :�:�,260.80 35,8 6 1 .54 :{ 6 , 8 0U3 ;{7,253.05
63,622.31 6 4 , 6 20 .40
Es La teo
Saving s allel
Cash I t e m s $ 5,000.00 5.l39.G4 2.08 7 .2 1 1 1 .377.55 4,401.71 L ,34S.11J 1 ,010.22 1 , 7 1 4.34 1 ,592.80 732.82 5:34.91 430.08 :l�t7 .48
!Vlor tgages
0.00
a.oo 2.985.78 2.985.78 2 .!J85.78 2.985.78 2,9S5,78 2,985.78 2,985.78 3.485.78 1 .650.50 1.650.50 1,350.50
Expensb t o Be Amort ized $33,l1l4 .SU :l:l ,(11 �I .�' 32,57 .37 :n.3�;j.7:� 28.6f!
. 3i'
26.909.27 � 5 , G 7 � ' . l :-�
23,9IJ�.27 2:3,!)O8.27 23,90'), .27 2 3 . 9 1K27
�212G3.fi7 22 .26iU'
Table X I I
DETAILS O F TOTAL INVESTMENTS I N BONDS E)ndowment
P.L.C. Tl'u s L
Date
Money
Accoun t
7 ;:31 /3:1 7/:31/34 7/3 1j:35 7/31/36 7/31/37 ,/3 1 / 38 7/3 1 /39 7;:11/40
$ 32.427.37 32.828.36 32.683.37 :l 2.468.61 :33,:W O.SO :�5,9 61.54 36,804.8:� 37,253.05
$ 6,853.95 8 , 2 13.58 10.953.75 15.66UJ 8 24.8 1 5 .G4 20.210.25 1 :1 .729.50 ] 1 ,78 9 .32
Curr e n t
],oans From
P . L . C . FunclR
0.00
$
Brokers
$
0.00
(l.OO 0.00
0.00 0.00 1 ,9 1 3.30 690.95 1 , 623.3fJ l ,OG7 . 1 4
0.00 0.00 (1.00 0.00 �.544.80 7 .5 5-1 .5 1
T o t al Bond Inve, tme n t � $39,2 1.32 4 1 .041.U4
43.637.12
48.130.5�J S9,989.H
56.862 .• � 57.702.52 5 7 . G 1 4.0�
ASSILfIl{Jtions llIulerly-ing com putations il/. Table XIV (Set' n exl pagci
year
Compu t a t ions are based on the a�sumption that. the average inveR tmen t is represented by on e - hal f
( on July
t liP
3 1 ) plus
one-half
compo La I ion is made.
a t'
at'
t ile sum available
the sum available a t
t.he
at
for each
t he end of the previous year
en d o f July in the year [or which
Table X I II
P. L. C. EN DOWMENT F UND I NCOME BY YEARS Interest. :11'
.I n t e r e � t
Ou P L e
Enuin!(
On Bonds
Loans
"\
,;/ :n �� j -' >� 1 2fl
7/3 1," II 7/ j t · 3 1 7/3 l i:J�
�
$"
2 ,950. ! S 4 ,7 1 1 . ' �
�/3 1. 3�
-;-/:1 l , !-;7 7 (31/ :18 7;;31, .,� 7 / :)1 .. 4 0 1
GG3.;:ih 45:1.6fJ
$
� 1 Ul.2G
0 . 00 0.00
1 6 .5!l 8 1 .24
�85.(i4
1 7 5.00
7 1 (; . 2 0
59.31
9 0 1 .00
:1 , 2 7 3 . fiU :J ,42�L7:.�
8 7 .50 23 7 . 5 0 150.00
1 , 0 1 8 .H 2
3,574.59
1 50.0 0
.47 5.f;� 1 1. 44
1 ,060.57
7/ l: t/=]4 7 /:1 1/35 7/: J l/;llj
'ro t a L,
525.SH 2.277.�7
l n l . On
In t. On
4 52 .5 �
3,750.98
1 5 0. 0 0
] , 189 . 0 1
3 ,7SH.2 1 :J,7 L 0.84
130 .:1 5
858.44
Acne t ion
On Sale:;
, !or tgages Savings
.
40.00
Of
9,] 1 5.42
Total 9 , 1 1 5. 4 �
5;"
-1-,396.45
5 51 . 1 5
2,58� .3:l
5,605.14 6 . 1 6 8 . 24 fi . li:H . 84
1 73 . 8 1
1,M2 .:31
7,:1!J l .Ol
. 1 3 0 .0 U
21 7.35
7,926 . • •
1 :3 7.�4
120.94 2 2 0 .50
4 ,' 41 .3 �
:l ,3nO.O �;
1 ,2 8 4 .2 8 2 , 2 1 8.5(i
6.253 .!l7
1 1 7 , (iO
6 . 70 1 . 1 1)
�.66 4 .90
3,716.67
1 7 4.30
9,008.26
0 .0 0
3G .GO
4 . 72 0 .7 8
� 8 . 65
4 . 2 5 2.92
1 % .54
:3 , S 5 1 K
0 .0 0 8 2 .!)0
4.17
32R .75
3 , 804 . 2 G 3,23(j.fJ l
7J5
0 . 00 O.OU
· 1 6,fj9 1 .3:'
:ji30,(i5:3 . 1. li
$ 1 ,202.i:!i
. H 9 4 . fj 5
$ l l ,2 1 4 . 7 7
4 1 5 .84
�
!l.OIl n.on
$
7 .(i9
1 5 o/c
Collec t iolls
--.-
. 2 2 . � 1 �.O2
�60, I
fiG. Gli
Table X I V
ANNUAL RETURNS ON ENDOWMENT INVESTMENTS Less Expenses 1'0 Be
IlIve� ted
Inves t m e n t
Ba lan(;p
Amortized
Balance
Income
ver-age
Year
$
1 9�c - � 9 1929 - ' u 1 9:3 1 1 -:) 1
HJ: H - :32 19:_i � -1:1 : 1 9 :1 J - :H 1 H:14 -:{5
1 935-% 1 931j- 3, 1 . ;1', _ : ,\.l 1 93. -3� ]!'1�,�1 - 1 I l
(i4,1 1 3 . 9 7
. :�3,019.fil
8 6 ,09 8 . 1 1
s, 3 1 .094.4 6
;{2,578 .;'\7
53,519.74
1 02,948.50
:) 1 ,3 8 :; . 7 2
l l4.n7.!J1
2 � .(j!) . 3",
7 1 ,562: 7 8 8 G .2 2 !J . 54
1 20 , 1 %. 9:1
2G,989.27
9 3 , 20 7 . G G
] 2 1 , 1 5 5 .38 1 22 , 1. 2 2 . 7 0
25,678. [:3
% , 477.25
23,908.27
1 23 . 0 8 0 . 7 4
23.9U8.27
1 2 3 . 90 7 . 7 9 J 24,50!i. :34 1 2 4 , 690. 2 1 1 2 5 , 3 2 .24
23 ,908 . 2 7 2 3 .9 0 � . 2 7
99,999.52
An�l'agE� a n n ua l
Annual
Rate 3 .89 %
$1 , 2 0 8 .69 2,808.21
%
:{ .R9% 9 . 1 4 o/r 1 4 .7 9% 2 1 .4 6 %
5 . 2 5 0/,
5.65% (; . 6 7 %
4,046.51 5.748.70 7.70 9 . 4 2
29.7 3 %
8.27%
9 8 , 2 1 4.52
4 ,620.44 (;,0:33 .47
4 .8 4 % 6.14%
09,1 72.47
6 , 5 8 3 .50
6.64%
8 ,83 3 .9 (;
Re turn
To Da t e
34.57%
40.71 %
4 7.a5%
S.83%
5 (; . 1 8 %
100,597.07
4 ,fj84.1 8
4 . 6 6 o/r,
(iO.84%
1 0 2.42fi.fi4
4,224.27
4 . 12 %
::: .655.:n
o
64. 96 o/r. 68.5 1 %
22 .2G3.(j{ 2 � , 2 (i;).(i7
1 0il , O li 4 . 5 7
--
.),;);),0
---- -- . ......... . . .
r e turn
S.71 �
Table XV
DISTRIBUTION OF ENDOWMENT INCOME BY YEARS Tnt. on An- Amor liza - ..-Opera l iOll Regu lar tion o f ( ' . nuitie:; &
Y�al' 1 92 - � 9 1929 -: 3
""
LoanH 8(i.86 374.00
Expenses � :;nO.9 1
1 ,2 1 7 .1 1
Income
$
560 . 92
1 ,217.10
EX[lense--..
Rehauili-
B'und
Coiled's
( P res . )
ta lion
\'�)s t O I'S
�
4 , 39 6 .4 5
:17 4 .00
1 , 8 3 (; . 2 G
1 , 8 3 6 .2 5
1 9 :3 1 - :� �
374 .00
1 9 :�2 - 3:J
374.00
2,687.35 1 , 709 . 1 0
2.G8 7.an
1
Trus t
Premium
� , ;1 60.03 2 , 5 8 8 .33
1 9:10 -
Li fe I n s .
15% o f
�
0.00
$
0.00
0.00
0.00
0.0 0
0.00
�
0. 0 0 0.00 0.00
U.OO
1 , 642.;11
0.00
0.00
2 1 7 . 35
503.04
1 ,968.59
1 ,445.59
1 93:{- 3·1
B74.00
1 ,3 1 1 . H
1 ,709.10 1 ,6 7 6.9 5
1 20.94
50:3 . 0 4
0.00
19:34-35 1fj:�o - :;1;
374.00 272.50
1 ,7 69 . B6
1 .76 �J .8 fi
220.50
3 8 8 .,12
o.on 0 .00 n.oo 1 , 644 .f il
1 ,684 .70
410.21
4 ,1 26 . 1 0
1 7 4 .30
:3 84 . 96
755.:n 8 3 5 . 47
:3 , 8 3 1 . 1 :1
1 1 7.60
89 5. 9 fi
3.555.�7 1 .644.60
� 6 . 60
0.00 0.00
4,054 . 56 624.35
0.00
0.00
2 ,31 5 . 6 R
28 .65 1 9 6.5 4
360.24 2 07 . 3 6 :H9 .92
1 84.32
0 .00
29 5 . 1 4 2 3 0. 3 1
.j1 2 .72(; . ;�4
$26.930.31
$ 1 3 .099.()0
$2,RS l .20
$4,549.25
S8 ,650.9·1
1 !13fi - :l7
] 9:3';- - :jS
H:1 � - 3 H I n :1 9 - .j\ l 1
:lS2.70
2!!7.20 290.00
3 25 .0 0 ---. Tot al,; 3 ,Sfl,'.:Hi
Table XVI
RECORD OF THE PAC I FI C LU THERAN COLLECE TRU ST ACCOU NT Distrib-
Quan" I'
F.ndiug 1 1)/3 1/ :1 2 1 /31/33 4/30/ :� 7/31/3:1 1 0/31/ :1 1 /3 1/34 ·1 / 30/;l � 7/31/ 34 1.0/31/34 1/31 /35 4/30/3fi 7 '311' :; 1 0/31/35 1/3 1/36 4/30/3G 7/3 1/36 10/31i36 1/31/37 4/30/3, 7/31/3 7 1 0/31/3, 1J31 /38 4/30/3 7/31/3 L O/31 /38 1/31/ 9 4/30/3 9 T/31/39 1 /31/39 1/3 1/40 4;30/40 �/31/4lt 1 1 J 131/-1il 1 /:] 1 H
..----- Equ i l y ltange-- -"
Amount
Market
u ted
Whe reof
College
Value
Earnings
In terest
In tereR l
High
Low
FinaL
Invested
$105.60 99.46 72.02
$95.2 1
$95.2 1
$8,236.74
6 3. 1 8
8,010.28
1 12 . 1 7
72.02
1 05 . 40 99.5 8
fi9.S7
65.fi6 72.02 105.40 69.87
1 0 .69
99.58
100.46 89.95 89.32
81.33 8 1. . 3 '
83.5il 92.07
68.71
53.72
1 20.23
5.259.89
6.3242%
8,002.50
5,763.06
3.3958%
4.6723% 5.5579o/c 6.3242% 10.8955% 3.395 8 % 5.82400/,
8,476.57 8,7:!9.05
8.934.61 G,Of,9.29
3.7466% 2.1099%
2.1099%
6 .549 2 % 3.8753 (
3.746(i %
10,09 5 . 5 5
10.053.41
2.6879%
2.6879%
5.3 0 8 7 %
1 2 ,407.18 1 1 ,209.00
1 2 ,464.48 9 , 1 1 6.16
2.741 1 % 3.199 1 %
2.7411 % 3.1991%
6.2899% [) .9677'70
85.37 8 0 . 53
12,469.09
10.644.53
1 .7948%
1.7948%
4.1675%
12,608.73
10,154.10
3.10930/,
9.27190/c·
8 1 .53
78.75 :) 8 .7 6
12,866.72 13,437.70
1 0 ,1 3 2 . 3 1 l l,927.19
2.1037% 2.0942%
3 .10fJ3% 2.1037%
79.03 76.92
80.56 126.95
1 2 , 92 4 . 5 1
10,412.27
1.3:386 %
2.0942% 1 . :338G%
13 , 5
5.:n
17,246.15
.3889%
.38 8 9 %
96.67
97.12
17,48G.73
1 6 ,98 1..81
1.0534%
.4582%
91.68
95.90
17,902 .42
105.7!' 107 .48 88.97
18,243.84
.7941 % 5.4986%
.3737%
90.98 100.84
17,168.33 1 9 .295.12
1.2848% 1 .7437% 1.0591 %
.9064%
3.4872%
24,340.06
2 6 . 1 5 9 . 99 1 6 .7461%
.001 0 %
.0024%
:lO.565,44 :l O.552.97
27,194.61 23 ,841.27
2.1841% 1 .0437 %
.0067%
.01 5 8 % 2.0!J97%
30,380.42
.3647% 1 .682 1 %
66.91
76.59
104.08 1 2 6 .!)5 136.DS 98.::l0 108.54
$7.83 3 . 1 2 54.9062%
108.91 89.00
88.97 76.04
54.98
44.9B :l8.71
78.91
99.58 100.46 S1.33
78.03 54.04
.8458%
28,040.67
1 6 , 4 1 6 .5 5 1 1 ,0 1 7. 4 1
24,700.09
6 , 1 8 1 . 66
.424::l%
24,3 1 0.65
1 .0499% .2111 %
1.049 9 %
.a647%
6 .4 8 8 6 % 5.8181% 3.76770/,
.8998% 4.0270%
42.98
23.B2
g9.29 25.03
27.81 27.21
2 1 .93
26.7 (i
20.59
2 5 .7 8
24,375.65
6,50 6.62 6,284.72
26.97
20.82
23.14
2 4 , 629.94
5.698.49
.5863%
.5863%
29.87 26.8(j
�3.10
24.45
24,826.89
G,0 6 8 . 9 �
.4378%
,4378%
.83 6 8 %
23.51
24.30
2 4 , 258.01
1. 1345%
2 1.66 20.96
2 6 . 9 (; 22.43
24,412.77
.5994% .:3623%
.5994%
29.25
5,895.61 6.581.28
.3G23%
.6142%
24,616.6fJ
5,520.90
.4624%
.4624%
�0.83
2(J . 8 5
24,686.70
.7903 %
lfi.72
24,766 . 4 5
.2996%
.6537 % .51 1 5 %
1 5 .75
1 7 ' ] :1
24,842.37
.3835% .2996% .1015%
.3835%
1 3 . 50
5.147.38 4,14 1 . 68
. 80 4 0 %
.S040%
:! 7.00 23.4:�
20. 4:] 1 8 . ;1 9 25.9:1
1fi.S1
25.1S
2 5 . 1 05.84
4,254.85 6 , 3 2 1 .83
1.68 2 1 % .42 43% .2111%
. 10 1 5 %
.9726% 2.2259% .41 2 4 % 1.1217%
.1764% L4 1 ! H %
Table XVI I
C U RRE N T OPERATINC I N COME BY YEARS AT P. L. C. Year 1 92 " ·29 1 . 2 - 30 la � 0 - 3 1 1 93 1 -3'?
J 9:3 � - 3;1 I f):-t3 - ' 4 1934 - :l� ] 9�5-:llj 1 n:)Il- l' i 1 937 -:3\ 1 93 8 - ilH 193 -4fJ
Development
Miscel
Endowment
Associa t ion
laneous
5,-00.00
$ 4,057.37
22,71 9 . l i
9 ,99 9.96
2 7 ,442.82
27,109.87
4.h77 .13 4,424.58
$ 1 6,740.43 16,747.73
2 8. 65 2.60 2 1 .852.88
27,08L3S
4,32f).(H)
1 5 .941.67
1 ,926.4�
2 1 . 7 74.24
15,12fl . O l
1 . 797.89
28.2 1 (i . 4 8
1 5 , 648.33
30.149.3� 33,1+5.24
17,614 .58 18.37 3 . 5 8
l,990.36 3,999.22
39,254.:38
1 9 ,904.47
3,632.64
49,683.(; 9
17,5 1 3.65 1 7 , 6 6 1 . " (i
1,673.26 3 , 1 45.40
�207.4 7 5 . � � 28 . 2 %
S t uden t .' 1 8 .377.04
55.10U 7
To t a l" �;1 7 G.:j(jfU7 51.2%
::: Synods
$
4 ,554.11
$
469.47
To tal � 46,04 4 . 3 1
835.00
54,878.93
5,954.55 9 , 2 9 1 .67
807.56
65,739.38
926.1 0
70,281.3,
10,885.84 6 , 4 22.-15
303.56 1,757.42
5,191.03
1 ,004.84
3 , 1 5 8 .4fJ :.1 ,783.59
1 ,763.45 3,32 0 . 3 1
5,452.28 2,085.74
1,977.72
50,910.10 46,878.01 52,051.04 56.685.06 63.176.83 70,221 .49
2,67U !f) 2,906.06
73,627.59
6.00L:l4
$41,008 .()7
$91 , 7 1 5 . 1 4
$18,742 .74
$735,:3 1 0 . 45
5.6%
1 2. :; %
2.5%
100.0%
84,816.03
Table XVI II
ANALYSI S OF
I NCOME F ROM STU DENTS BY YEARS Board
Y ar End ing
7/31/��) 7/�I/:�n 7/:': 1;:1 1 7/: n/3:2 .. ;;H/3�
Fees and
(net) and
Tuition
Room Rent
$ 1 2 ,149.5(;
$5,916.12 7 , 64 0 . 2!) 8 .4 6 1 . 64 8 . 00 9 . 4 3
1 3 ,8�3.06
1 7 ,941.09 19,732.90
7/3 1/37
1 6 ,332.21 1 G , 5 7 3 .0 1 21 .920.39 22.585.45 24,485.05
7 /:H/3S
:10.632.07
7/3 1 /3 4
7/31 /3;; .. ;;n 131;
7 j:H j:; !) 7 /3 1 ' 4 1 1
:16,33 0 . 6 1
40,20ii.37
Physical l<jduca tion $0 . 0 0 777.50 722.00 6 6 5. 4 1 837 .05 835 . 37 907.55 1 ,0 4 5 . 1 2 1 ,2 1 1 . 2 6 1 , 3 2 7. 7 3
4 . 5 6 9 . 8 f;
4.164.61 4 , 7 li2. 0 7
5,924.49 6 , 5 50 .4 G 0,214.62 \ O ,71!J.30 l U{ 3(i.�O
1 .597.:35
1 ,5 17.:U
Book
Placement
S t ore
Service
I tems
Total
$ 1 18.14 274 . 29
�138.50
�54.72
, 1 8 .:�77.04
193.97
22.7 1 9 . 1 1 2 7 , 4 42 . 8 2
0.00 0.00
133.03 1 9 . 4�
a.oo 0 .00
50.55
0.00
55.00
262.38
1 1 6 .37
1 22.42 512.79 62 0 . 0 11 595.71 9 1 1 .07
175 . 2 5 1 61 .2 8
245.90 93.01 272 .5:;
Sundry
18 5. 0 6 225.43
28,652.60
63 . 2 1
2 1 ,852.88
146 .2 5 217.72 296 .59 2nSO 2 1 4 .0 0 :347.71 :138 .2 $)
21 .774.24 2S,2 1 6 . 4 R
30,14�).a2
33,1 4h.24 89.254.38
4�1,{;R3.69 r, 5 , J O U7
Table XIX
ANALY S I S OF CHURCH SU P PORT eu r
);, L. Cli. A . $ 5 , 50 0.00
I-:ndinp; 7/3 1, :l!i 7/;1 l ' :?fI f /3 1/:.: 1 7/3 1/32 "(I:� 1/3:J f / 3 1;':i-I ,/:n , 3 "
5,000.00
Amer. L. C .
$ ......
4,999.9( ;
Aug. Synod $..
2 4 ,4 0 1 . 58 2 4 .581 .35 9 .250.00 9,000.00 9.418.G5
2 , 84 7 . 3 1
7/31/31;
10,49�.98
:U42 . 0 9
2 .0 8 2 . 3 7 2 . 0 22 . 5 1
';' j:l l /3 i 7j:l l ; :-lS 7/3 1 /:l!) ,or.:':! 1 4 1 1
1 0.000.00 1 �.OOO.OO
4.51 6.�()
2,:357.28
4 , 1 0 4 . 1\;
2 . 20 0 .3 1
1 0 ,000.00 1 ll .0 0 0 . 0 1 1
1,208.% 4 .427 .:�:l
1 ,705.30
':' fnduded und e r
� ,7 0 8 .2 9 2,500.00 :3 , 1 9 1 . 6 7
Pac. Dis l .
Col. Can!'.
$.
\V. M. Fed. $
274.:;6*
2 , 29 1 . 8:::
3,834 , 1 8
I ,So!! .53
1 ,300.00
700.0(1
1 ,3;;0 .00 1 ,500.00 1 , 6 0 0.00 1 ,600.00 I ,fi75.00
1 .:nO.Oo
2 , G Oh .4 G
1 0 3 .50 :17:1.45 H 2 .50
1 . 64 1 . 1 (;
988.07 1 .44 0.GG"
Developmen t Ansoeia t.ion income.
Table XX
ANALYSI S OF MI SCELLA NEOUS I TEMS OF OP ERATI NG I NCOME -ear
Ending
Unr e s t ricted Legacy Legacies I n t e r es t
7/:l J/ 2 9 $ ...
7/3 1 /311
.$ .
P r o f i t on Real Es t .
� ..
$:162.70 S�5.00
,/3 1 .' :1 1 7/:1 1 ., :12 7;:j 1 / :1 :3
2.00 740.70
,/3 1 . 3 4
7 4 ;; . 5 4 1 5 G . :H
252.56
7 /:H/ %
"I /:i l /:'� () ( /; J l/:J7 7 /�: 1 /:JS 7 /:11 I:-�!) 7/H - in
Special Donations
Pac. Din t .
& W. M. F. $
R07 f)(j !):'6.1 (I
:103.56
1:30.92
RO:3.50 1 .74HAS 1 .(i41 . 1 U
1 1 .6 1 :152 . 8 1
�(l . l :l
'IOG.fiLi
$4(;!l.47 ,,:35.00
�05.Gf;
2,74�.9G
G.l�
T o t al
1 8 5 .4 0 5 1 .0 0
79 . 6 2 1 .247.�(i 1 .R49 :l3
Sundry I tems $ l () (i.77
988.07
620.0U
" P acific Dis t l'iet eon t riuu t iuns. � 1 ,440.66, induded uncleI' t if)1l ( $ii . O O 1 .:14 in Taule X V I I ) .
880.91;
1 . 75 7 . 1 2
4h.OO
I .O O 4 .S4
20.00
1 ,763,4;'
491. 7:] :�24.95 7G.33
:l ,320.3 1
1 ,977.72 2 , 67 1 . 25 2.!10G.Ofi
P. L.
('. Devplopille n t .·\ssoeia
Ta ble XXI
CU RRENT O P ERAT I NG EX PEN SES B Y Y EARS AT P . L. C. Retire-
Y at' Ending
'j/3U�9 7/3 1'::JIJ
,/3I/H , /3 1 /j2 7/1 1 /3;�
7/31/34 ,/31/35 7/31 :-:! j
7/�� 1 / :1 -;7/3l/;l� 7/31/3 7/3 1 ,I"
me n t
O f L ice
( ieneral
Board o C
F'acul ty
Expense
Expense
T r u s t ees
Salaries
$ti9.35
$25,563.30
87.00
32,625.90
$ 4 . l 2 3 . 1 0 $2,664.80 2 ,9 7 2. 2 " 3, 7 00 . 58
Adver-
Library
Insurance Expenses
$
t isillg
$669.43
$455.76
239.00
1,9��8. 2i�
Taxes
�47.90 22:3,3,
4 , Hi l . 1 1
590.97
106.00
40 ,578.57
84.88
7,256.3:1 6,4 2 0 . 2 9
717.10
100 .99
40,425.76
93.46
2,ll59.27 2,908.77
22.8�
9 05 .8 '1
76.55
57.31
1,666.31
1a.·I.
838.03
5·1.45
2 5 6 .80
6 ,79UO
1 10.75
6.619.59
ti:18.20 464.62 627.44
1,183.04 939.11
200.00
4./73.16
6 .700.30
941.87
S .r ; i) � .!1�t
li3Ui�
:30 ,572.27 24.493.83 2 6 ,700. 6(; 32 ,528.90 42,408.15 4 3 ,828.16 41,725.58 4!l..S�2.80
5.354 .1 6 - .4�S.] 3
756.80
l(j8.40
224.11
41 8 . 65 261.32 "59.0S
970.66 1.498.84 l ,ti58 .:31 1 ,995.20
1 6 6J�7
l ,2 0 foi . ' 9
2,71 �.O7
J S. 1 4 9.14
4 6.0 ii
247.63
2�6.42 �18:UO
Table X X I I
CURRENT O P ERAT I N G EX P ENSES IBY Y EARS AT P. t . C. ( Cont. ) Year
Light
I<:ndillg
7 : ��
29
7/� 1 /· 1l
7 / 3 1 /3 1 7/3l/�2 7 / :1 1 /;l:� '7 /:1 1 · :j+ 7/' 1::1" 7/3 ] /36
7/3 1 137 , / 3 1/3 7/;n/39 ,i:'1 '·H I
Insurance
Wat
& ]'
Repairs, Hea t . Jani t o r , N t. Replace-
\Va tchmn.
meu t s
$ 1 9 1 . 83 �n:32
$ 1 .0 7 4 . 13 945.29
5,152.64
593.27
305.78
968. '5
5 , 7 3 6 .99
2,659.27
46 1 . 4 5 :1 82.�5 393 .66
] ,1 40 . � , 896.72
6,050.92 6,:172.97
735.64
6 .0 8 1 . 6 8
780.17
:122.55 2 9 4 . :12
SQ9.:� G 8 49 . 1 6 ,:19 . 1 2 6 G 1 .7fi
6 , 3 0 8 .45 5 ,236.2!ol
1 ,0 0 8 .1 4
2 , 1 14.7!1
5,89 3 . 1 0
738.39
28 6 . 4 2 2 7 1 .G5 li!1] .26 :1!l 1 .5G
<:3 1 . 5 l , 0 8 G . :' G
$5,533.12
llle n t Service
$944.38
Type -
Musil:
writer
Depa r l -
Repairs
ment
$ ........ .
$
9 8.2 :;
102.50
7B.62
364.97 29G.70
756.17
4 6 .99
] 9� .50
fi,fiO� .83
797.40
S,n g , 4 1
2 ,479.70
5.6·1 8 . 1 1
1'lnce-
l , l :1 O , 4 4
Hook
S tore
22.15
2 6 1.94 :1 46.29
Gfi2.G1 29tUl4
Table XXI I I
CU RREN T OPERATING EXPENSES BY YEARS AT P. L. C. ( Co n t. )
Y
Golf ar
Campus
OUl'se
Ending
Upkeep
Upke ep
7/31/2£1 7/3I/3r1
� . . . .......
$ ..........
Campus AuxilImprove- iar), m nt
$ ....
Hall $ ..........
To tal
Field
Opera tion
Service
(ne t )
$41 ,337.1 0 4 8 ,971.59
7/31131 7/3 1/:t.?
56,872.01 GO,lS7.5R
�/U/3 ::: , ;:n i34
40,666.22
48,388.79 41,769.05 4 9 . 0 5 1.55
7 /3 1 / 3;)
7/:1 1 /:) 6 7/31/37
'-;/3 1/!t' 7 ! 3 1 ; :1 !1 7/31/ 411
8 0 1 .21 6 7 3. 5 5
li59.33
'59.80
!l44.07
6 0 , 1 12.74
620.00 600.00 600.00
5 22. 2 5
62,435.99
609.05
394.8fi
64,618.92
628.00
5 0 1.:1 9
75,2()4 .72
Interest
$2,940.59 2 , 5 58.72 3 .7 1 0.64 4.993 .60 5,3:3 2 . 27 5.774.51 6,006.33 5,910.45 5 ,74 6 . 8 6 5.729.48 6,277.52 ",aS6.1 0
(Tr.
Ex.)
� 1 ,473.83
O ther Ex-
pensE'S $R1 .45
3,305.S0 5,156.73 5,100.20 4,680.49 12.394 . .,3 2,868.03 1,719.28 3 ,534.�r,
2,056 .02
1 ,:349 .10
2,96:3.:32
1 10 . ] � 20l .8!i