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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 First Quarter, 2021:

The Foundation showed positive performance for the first quarter, 2021. The fund’s assets totaled $38,815,429 at the end of the quarter, up $9.4. Million from March 20 of the preceding year, the onset of the COVID pandemic. The Fund was allocated 74.1 % equities, 18.2 % fixed income, 5.2 % private equity, and 2.4 % cash. The estimated annualized income is $498,678. 

The Fund had a total net return for the first quarter of 4.13 %. Equities had a solid first quarter, up 5.89 %, compared to the relevant index of 4.57%. In contrast, fixed income continued to be difficult, -1.84 %, compared to the index of -1.61 %.  Private equity showed a 5.92% gain. For the preceding 12 months, equities were up 56.73 % (index 54.58 %); fixed income was up 2.35 % (index 1.37%); private equity was up 13.95%. Overall, the total portfolio, net of fees, was up 35.83 %.  Longer term performance, 3, 5 and 10 year numbers, were also positive across all investment categories- 10 year annualized net performance was 7.46 %.

Four equity funds outperformed their relevant benchmarks; 5 funds underperformed; 8 funds were in line with the relevant benchmarks. In the first quarter, value funds outperformed growth funds; small cap funds outperformed large cap.

Fixed income investments continue to be high quality, 69.7 grade AAA, and 12.5 % grade A. Fixed income is currently a tough low rate environment.

The investment manager was very positive about equities, which is why the Fund was currently near the upper limit of its Investment Policy Statement allocation for equities. Equities will remain strong in 2021 and into 2022, based upon the influx of stimulus dollars, strong GDP, strong consumer spending and confidence, and booming housing. Several concerns include possible high taxes in some sectors, major earnings mixed, and the ever-present geopolitical climate. The biggest risk is the threat of increased inflation.

Over the long term, the Fund has performed better than inflation; the Fund’s returns have consistently been higher than the Consumer Price Index. For the 3, 5 and 10 year periods, the Fund has beaten all of the benchmarks.