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2015

GRAND LODGE OF MISSOURI

61

Level 3 classifications include split-interest agreements, comprised of contributions receivable from trusts and estates and beneficial interests in perpetual trusts that are held by outside trustees. The fair value of these assets is based on the values of the underlying investments in the trusts which are established by the trustees using, for a substantial portion of the investments, market values for identical assets in an active market andsimilar assets. These are revalued annually by the Home based on investment statements provided by the third party trustees. Even though securities held in trust might otherwise meet the requirements for Level 1 or Level 2 classification, the assets are classified as Level 3 because of the Home’s restricted access to these securities. The Home has beneficial interests in four perpetual trusts at June 30, 2015 and three at June 30, 2014. The terms of the trusts and the practice of the trusts pertaining to distributions are similar for all four perpetual trusts. Income earned on the individual perpetual trusts to be allocated to the Home is to be distributed to the Home on at least an annual basis. For all of the perpetual trusts, the corpus is to remain intact and shall not be encroached upon.

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

Profile for momason
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