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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.

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

Fourth Quarter 2019 and Year End:

CAVEAT: THIS REPORT IS PROVIDED FROM TRUSTEE MEETING ON FEBRUARY 19, 2020, BEFORE THE SEVERE IMPACT OF COVID 19.

The fund’s assets totaled $34,111,814 at the end of the quarter, allocated 67.1% equities, 18.6% fixed income, 8.0% hedge funds, 4.4% private equity and 1.9% cash.  The estimated annualized income is $607,445.  The Fund is up $3.0 million from the end of 2018.

The Fund had a total net return for the fourth quarter of 6.07%, ahead of the index return of 5.65%, due mostly to a continued overweight in equities.  Asset allocations remained within the guidelines set forth in the Investment Policy Statement.  Year-to-date, equities are up 29.81%, fixed income is up 7.08; both exceeding their respective indices.  The entire portfolio year-to-date is up 20.85%, 2% above the cumulative index.  Ten year figures show the same positive trend.

Equities showed a strong performance:  for the quarter, 6 holdings out-performed the relevant indices; 5 underperformed; 5 were in line with the relevant indices.  Large cap and small cap performed about equally; international stocks outperformed domestic.

The Fund performed even better for 2019.  Nine equities outperformed the relevant indices; 2 underperformed; 5 were in line with the relevant indices.  Small cap outperformed large cap; growth stocks outperformed value stocks.

The Fund’s asset manager, Bank of America/U.S. Trust believes that the good economy will continue.  Earnings are up and consumer confidence, labor projections and housing are all strong.  Concern about previously identified market issues – China trade, Brexit, other trade – is subsiding.

NB.  THIS REPORT PRECEDED THE SEVERE IMPACT OF COVID 19.  THE DIOCESAN FOUNDATION EXPECTS AN UPDATED REPORT IN LATE APRIL 2020.