Bethlen Naptár, 1956 (Ligonier)
The Assets of Our Celebrating Federation
148 BETHLEN NAPTÁR recommended the dispersal of the orphanage and the placement of the orphans into foster homes. After a lengthy discussion the following resolution was made: The Federation will continue to maintain the orphanage and also gradually build and furnish an old people’s home so that our old folks, left without work and care, might be cared for. These two resolutions meant that not only must the orphanage become self-supporting but that the Federation must be self-suppotring also, if these two institutions are to be maintained properly and all obligations to the members discharged adequately. The Supreme Council was given the responsibility of finding ways and means of making this plan work. However, the New Supreme Council was hindred in carrying out this program because of retarded economic conditions and financial collapse by the end of 1931. Our Federation’s investments were affected by this financial and economic crisis so that 20.6% of its invested assets became insolvent, which meant an impressive loss in our 855,609.03 assests. Beginning in the year 1932 the Supreme Council found ways and means for our Federation’s operations to flow smoothly. The orphanage and old folks’ home became a model institution in the State of Pennsylvania and a pride of the American-Hungarian Reformed people. The Council also found ways to supplement abundantly the assets that had become insolvent in the critical years. A financial adviser was installed for the purpose of administering investments. From this point on the assets were no longer placed in safety deposite boxes and vaults, but invested, put to work, for greater returns. Our tabel of Capital and its Growth, above, attests to the success of good, planned investments. To raise the membership of our Federation, three full-time district managers were installed until the Convention of 1935. A recommendation was prepared by the Supreme Council for presentation to the 1935 Convention that a central office be opened in Washington, D. C„ the capital of our nation, and that four officers be elected to head the organization. The Convention approved the Council’s every proposal: relocating the home of the Federation to Washington, D. C., and electing the four executive officers who were to fill their respective positions on January 1, 1936. The Supreme Council, wisely, courageously, and faithfully, directed the affairs of our organization at the 1931 and 1935 Conventions as well as in interim. This fine directing body made the Federation self-supporting and gave it the impetus to start on a new road toward the future, increasing thereby our membership and assets as well. THE ASSETS OF THE FUNDS. All the property and income of the Federation shall constitute and shall be handled in eight funds. These funds are: a. , The General Expense Fund. b. , Adult Mortuary Fund. c. , The Surplus Fund. d. , The Sick Benefit Fund. e. , Hospitalization Fund. f„ The Juvenile Fund. g„ The Bethlen Home Fund. h., The Cultural Fund. The assets of these eight funds, according to the report, on September 1, 1955 was $7,089,328.00.
