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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.

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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.

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

Fund Performance for the Third Quarter, 2021:

The Fund’s market value for the third quarter, 2021, was $43,134, up 31% from two years earlier, the third quarter 2019. The Fund is still allocated within investment policy guidelines:  72% equities, 19% fixed income, and 9% private equity and cash. The estimated annualized income is $528,963.

The Fund had a break even quarter, a net return of 0.11 %. For the quarter, equities were down 0.84%, but still better than the relevant index, and fixed income was up 0.03 %, in line with the relevant index. On the positive side, for the twelve month period ending September 30, 2021, the total portfolio was up 22.83%; equities outperformed the index by 1.73%; fixed income outperformed the index by 0.16%; private equity was up 54.5%. The long term view, 3, 5, and 10 year returns, all continued to be positive compared to relative indices. Significantly, the 10 year average return 9.15%. In addition, The Fund through August 30, 2021, outperformed its indices for the 3 month, 12, month and 3, 5, and 10 year periods.

Bank of America/U.S. Trust continues to be positive on the economy: money supply is up; earnings are up; consumer net worth is high; capital expenses are increasing, as is productivity; expected earnings growth in the 4th quarter and into 2022. On the other hand, concerns still exist: supply chain disruption, inflation overheating, continued existence of COVID, labor and energy shortages, and possible tax changes.

The Trustees have directed BOA/US Trust to adjust the equity allocation closer to the targets in the ISP and place money in short term, high quality fixed income as a hedge against rising interest rates and inflation.