Page 51

50

PROCEEDINGS OF THE

2014

2015

Cost or Donated Fair Value

Carrying Amount

Investments by Fund Operating fund Reserve fund Building fund Morse fund Main Investment fund Knollman fund Simon fund Total investments

$

14,074,580 38,374,650 5,455,066

$ 16,063,749 44,239,318 6,289,545

42,483,980 1,034,078 6,784,794 $ 108,207,148

46,943,014 1,043,102 7,975,654 $ 122,554,382

Investment incomeincome on the Statement of Activities is reported offees of $267,372 and $256,612 the on the Statement of net Activities is reported netforoffees of Investment years ended June 30, 2015 and 2014, respectively. Endowment income reported on the Statement of Activities $267,372 and $256,612 for the years ended June 30, 2015 and 2014, respectively. consists of the p0tiion of total investment return from the Endowment Fund that is transferred incash to the Endowment Operating Fund. income reported on the Statement of Activities consists of the p0tiion of total investment return from the Endowment Fund that is transferred in cash to the Operating Fund. 3. SPLIT-INTEREST AGREEMENTS The term split-interest agreement describes a variety of arrangements under which funds have been donated to 3. SPLIT-INTEREST AGREEMENTS the Home, including charitable gift annuities, charitable remainder annuity trusts and unitrusts, and beneficial interests in perpetual trusts.

The term split-interest agreement describes a variety of arrangements under Charitable gift annuities: Funds held and managed by the Home pursuant to charitable gift annuity agreements which funds have been donated tothe Home, including charitable gift annuities, were made available to the Home with the stipulation that it periodically pay to donors and/or their charitable remainder annuity trusts and unitrusts, beneficial interests beneficiaries specific amounts in the form of annuities. Assets received under such and agreements are recorded at fair perpetual value as of the date of the agreement. Estimated liabilities are recorded for required annuity in trusts. payments to the beneficiaries based on the estimated return on the assets during the term of the agreement, the payment obligations, beneficiary life expectancy and discount rate comparable to the risks involved. The

gift annuities: Funds and managed bylifethe Home pursuant to Charitable Home uses Internal Revenue Service tables for theheld discount rate and beneficiaries' expectancies. The liabilities are adjusted annually foragreements financial statement purposes. Payments of annuity obligations terminate charitable gift annuity were made available to the Home with the at a time or under circumstances specified in the agreements, generally upon the death of the last named stipulation that it periodically pay to donors and/or their beneficiaries specific beneficiary. The net assets of these funds are classified as unrestricted, temporarily restricted, or permanently amounts in theupon form of annuities. Assets received under such agreements are restricted depending the provisions of the donor agreements. recorded at fair value as of the date of the agreement. Estimated liabilities Trustsrecorded held by others: Home is the beneficiary ofpayments various trusts for assets are held and based managedon the forTherequired annuity towhich the beneficiaries are by third paiiies. Under the terms of these trusts, the Home has the irrevocable right to receive all or a estimated return theonassets the term of thetrust) agreement, theterm payment percentage of the income on earned the trust during assets in perpetuity (perpetual or for a specified (tenn obligations, beneficiary life comparable to of the trust). For perpetual trusts, the Home hasexpectancy and discount recorded its beneficial interests based rate on its share of the fair value assets held in trust. For term trusts, theuses Home Internal has recordedRevenue a receivableService for its beneficial interests based on the risks involved. The Home tables for the discount present value of estimated future payments to be received. The Home's share of the fair value of assets held in rate and beneficiaries’ life expectancies. The liabilities are adjusted annually trust is generally used as a practical estimate of the future payments to be received. These receivables are for financial statement purposes. Payments of annuity obligations terminate included in the category, "contributions receivable from trusts and estates" on the Statement of Financial Position. at a time or under circumstances specified in the agreements, generally upon the death of the last named beneficiary. The net assets of these funds are classified as unrestricted, temporarily restricted, or permanently restricted depending upon the provisions of the donor agreements. 9 Trusts held by others: The Home is the beneficiary of various trusts for which assets are held and managed by third paiiies. Under the terms of these trusts, the Home has the irrevocable right to receive all or a percentage of the income earned on the trust assets in perpetuity (perpetual trust) or for a specified term (tenn trust). For perpetual trusts, the Home has recorded its beneficial interests based on its share of the fair value of assets held in trust. For term trusts, the Home has recorded a receivable for its beneficial interests based on the present value of estimated future payments to be received. The Home’s share of the fair value of assets held in trust is generally used as a practical estimate of the future payments to be received. These

Profile for Missouri Freemasons

Official Proceedings - Grand Lodge MO Communication 2015  

Official proceedings of the One Hundred Ninety-Fourth Annual Communication Columbia Sept 28-29 A.D. 2015 A.L. 6015

Official Proceedings - Grand Lodge MO Communication 2015  

Official proceedings of the One Hundred Ninety-Fourth Annual Communication Columbia Sept 28-29 A.D. 2015 A.L. 6015

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