The move, which brings the Synod’s indebtedness to external entities to zero, will save $1.4 million a year in principal and interest payments.
In October, Lutheran Church Extension Fund rolled out a 40-month note with a goal of reaching $100 million in new investments. The goal was met in less than four months.
At its November meeting, the Board heard from its chairman about efforts to increase the efficiencies of corporate Synod so the church can use the savings on its “core competencies.”
This year’s Lutheran Church Extension Fund (LCEF) Fall Leadership Conference, Nov. 16–18 in San Diego, continued its decades-long tradition of presenting the Gospel-inspired results and benefits of LCEF’s work.
It’s the third consecutive first-place finish for Texas in Lutheran Church Extension Fund’s seventh annual National Student Marketing Competition.
Among the gift recipients are five congregations, four districts, one school and the LCMS Office of National Mission.
Lutheran Church Extension Fund is providing $350,000, and Thrivent Financial will match donations up to a total of $3 million.
The Rev. Bart Day, executive director of The Lutheran Church-Missouri Synod’s Office of National Mission, has accepted a call to become President and CEO of the Lutheran Church Extension Fund.
The Rev. Bart Day begins work Sept. 1 in the Lutheran Church Extension Fund post, succeeding Rich Robertson, who retires Oct. 1.
High-school students in Northrop, Minn., assemble Christian care kits with blankets and other items for local agencies.
Actions at the Board’s May 19-20 meeting in St. Louis include adoption of a prudent, lean Synod budget, contingent on further expense reductions.