Welcome
Ministries
Formation
Youth
Congregations
Clergy
Administration
Contact Us

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

Click here to contact us.

Click here for staff.

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 and Year-end 2020:

The Foundation’s assets total $37,507,097, up $3.4 million from 2019, and up $8.4 million from 2018.  The Fund is still allocated within investment guidelines:  73% equities, 19% fixed income, and 8% private equity and cash.  The holdings are well-diversified and high quality.  The estimated annualized income is $509,087.  

The Fund had a total net return for the fourth quarter of 10.21%, net of fees.  For the quarter, equities were up 13.94%, in line with the index, and fixed income was up 0.69%, above the relevant index.  For the year, equities were up 17.07 % and bonds were up 6.51%, both above the relevant indices.  Significantly, notwithstanding the volatility occurring over the past 10 years, both equities and fixed income continued above the relevant 10 year indices.

Bonds are high quality and laddered through the yield curve.  They are the Foundation’s income generator and a hedge against equity performance.

Equities consist of 71% large cap, 17% small cap, and 12% international.  For the fourth quarter, value equities outperformed growth; small cap outperformed large cap; and international outperformed domestic equities.  Of the 17 holdings, 4 outperformed the relevant indices; 7 underperformed the relevant indices; 6 holdings we rei line with their indices.

Bank of America/U.S. Trust, the Foundation’s investment advisor, continues to be bullish on the economy:  money supply is up; strong earnings projected for 2021; consumer spending expected to be strong; progress on the vaccine; housing is booming as millennials purchase their first homes, which generates additional purchases; predict strongest year of economic growth since 1983.  Of concern, BOA/U.S. Trust recognizes that the economy is still at significant risk due to COVID 19, and any possible vaccination complications, as well as the geo-political risks inherent in a changing administration.