Bethlen Naptár, 1956 (Ligonier)
The Assets of Our Celebrating Federation
BETHLEN NAPTÁR 153 prince of Transylvania. Our membership has supported this home since 1921, the year of its founding, by paying ten cents monthly toward its upkeep. These payments have amounted to $606,748.31 as of September 1, 1955. Our members acted according to Christ’s commandment when He said, “But when thou doest alms, let not thy left hand know what thy right hand doeth.” These large expenditures are indications to our members of just how truly the Federation has fulfilled its obligations toward its members. GOOD DEEDS. II. Among the organizations of like nature, in relation to its assets, our Federation has led all others in the manifestation of its loyalty and willingness to make sacrifices for the country of our adoption. II. At the beginning of the Second World War, our Federation suspended that part of its legal right which referred to members who joined the armed forces, namely: not to accept dues from them, and that until the signing of the peace, not to remit the full amount due on their certificates to the beneficiaries. Nevertheless, the Office of the Treasurer paid out all insurance claims to the beneficiaries of these heroic dead, who gave their lives for their country. III. The Supreme Council is under obligation to invest the assets of the funds of our Federation so that they bear at least 3’/2% interest because our life insurance rates are based upon this income. Our Federation’s assets in 1945 were $2,634,088.43. — $1,338,437.50 of these assets were exchanged from 3% 4% interest-bearing bonds to 2% and 2'/2% interest-bearing United States War Bonds. Because this the interest earned dropped from 3.7% to 2.79%. In 1937 the executives of our Reformed Federation called a meeting of of the officers of all the American Hungarian societies of the country, with the purpose of opening a central office where American Hungarians, as well as the dismembered Old Country, might be defended, in the name of all Hungarians, from criticisms and attacks. As a result of this meeting the office of the Secretary of the American Hungarian Federation was opened in 1938. With the approval of the 1939 Convention, our Federation has contributed one cent per member toward the maintenance of the American Hungarian Federation. These contributions amounted to $36,476.05 on September 1, 1955. We would like to mention here that the Bridgeport Society has also been making its one cent per member contributions. Other societies have contributed spasmodically to this purpose, and consequently much less. Annually our Federation contributes to the support of the American Red Cross, the Community Chest, the Tuberculosis Association, the Heart Association, the Cancer Fund, Flood Relief, and many other American charitable institutions. After the end of the Second World War, through September 1, 1955, we sent medicine, food, clothing, and money, without religious or social discrimination, to our Hungarian brethren behind the Iron Curtain and to those scattered the world over. These gifts amouted to $64,165.27. The following data is for the benefit of those descendants of American Hungarians who might wish, in the future, to study the history of the immigrant Magyars: Even when banks and loan corporations did not consider churches safe risks for investments and refused to give them loans, the Hungarian Reformed Federation of America granted loans from its assets in order to build churches to the glory of God and the preservation of the Refomed faith. The Federation believed that loans requested for the building of churches 'vere good investments, and granted them even when benefit societies, founded within the churches, were unwilling to grant loans from their funds.
