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Episcopal Diocese of Southern Virginia
11827 Canon Blvd., Suite 101
Newport News, VA 23606-3071
757-423-8287 Main
800-582-8292 Toll Free
757-595-0783 Fax

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The diocesan offices are open Monday through Friday from 8 a.m. to 4 p.m.

Click here for directions to the diocesan office.

Diocesan Foundation


Financial and investment assistance is available to Southern Virginia’s parishes, congregations and agencies!

The mission of the Southern Virginia Diocesan Foundation is to provide financial and investment management assistance to parishes, congregations, missions and agencies within the diocese, to assist in promoting the financial stability of the diocese and its member organizations and to help provide such related services as may be considered necessary or desirable by the Southern Virginia Diocesan Foundation Board of Trustees to help support diocesan and parish activities.

The Episcopal Diocese of Southern Virginia organized a Virginia non-stock corporation known as the Southern Virginia Diocesan Foundation to provide its parishes, missions and agencies with investment assistance. This corporation established a pooled investment fund known as the Diocesan Composite Fund in 1950 and has since operated it as a professionally managed, long-term investment vehicle for parishes, congregations, missions and agencies within the diocese that desire or need investment assistance in managing their special purpose accounts.

The Foundation is a charitable religious organization that operates under the auspices of the diocese and is managed by a Board of Trustees. The Foundation’s day-to-day activities are managed by the treasurer of the diocese.

Click here to see a directory of Diocesan Foundation trustees

The Statement of Information

The Investment Policy Statement

Any congregation may invest in the Diocesan Foundation. If your parish would like to participate in the Foundation, please fill out the forms below and send the completed forms and your check to diocesan treasurer.

Forms

Foundation initial investment form

Foundation investment authorization form

Foundation additions, withdrawals and distribution form

Interested in planned giving?

Here is some information that may help you:
Planning Giving Resources from the Episcopal Church Foundation
Ministry of Planned Giving brochure on planned giving

Performance of the Composite Fund

Second Quarter 2019:

The Fund’s assets include 67% equities, 21% fixed income and cash, 12% alternative investments (hedge funds and private equity), following the allocations set forth in the Investment Policy Statement.

The Fund had a good second quarter.  The Fund’s market value totaled $32,430,000 at the end of the second quarter, 2019, up almost $1 million from the first quarter.  The portfolio experienced a 3.53% gain, outperforming its index; equities and fixed income both outperformed their respective indices.  2019 year to date equities, fixed income and alternative investments were very strong; equities up 18.5% for the first six months of the year; fixed income up 5.12% for this same period.  The portfolio was up 13.40% year to date.  In addition, the Fund’s ten year performance number was excellent.  Bonds continue to have high quality, A or better, with the duration slightly over four years and a current yield of slightly over 3%.  In contrast, ten year treasury bonds are performing at around 2%.

The second quarter and year-to-date equity performance mirrors the overall Fund.  For the second quarter, 9 of 16 equity holdings outperformed their respective indices, 6 were in line with the indices, and only 1 of 16 holdings underperformed.  Domestic equities outperformed international equities.  The Fund enjoyed good performance from a strategy standpoint.  Year-to-date figures are comparable, and the performance over ten years shows 12 of 15 equity holdings to be over or in line with their respective indices.

The Fund Manager continued to be optimistic about the 2019 performance, proved by the second quarter figures.  However, not only the Manager but members of the Board of Trustees observed that the Federal Reserve Board needs to become more aggressive in controlling interest rates.  Current economic risks include trade wars with China and possibly Europe, the 2020 election, and a slowdown in global growth.