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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

Second Quarter 2020:

The Foundation’s investments for the second quarter, 2020, overall had recovered a lot of what they lost due to COVID 19 in March 2020.  The fund’s assets totaled $32,564,171 at the end of the quarter, up $3.15 million from the first quarter figure, but still below 2019 year end figure of $34,111,000.  The fund is still allocated within investment guidelines:  68.4% equities, 21.1% fixed income, 10.5 private equity and cash.  The estimated annualized income is $545,244. 

The Fund had a total net return, reflecting the rebound, for the second quarter of 11.83%, slightly behind the index return of 12.37%.  For the quarter, equities were up 20.17% and fixed income was up 3.12%, but year-to-date continued to be affected by the COVID 19 economic brake.  The long-term view, 3, 5, and 10-year returns, all continued positive. 

Equities showed good performance:  for the quarter, 4 holdings out-performed the relevant indices; 5 underperformed; 8 were in line with the relevant indices.  Large cap and small cap performed about equally; international stocks outperformed domestic.  Fixed income assets are still high quality, overweight in corporate bonds and underweight in Treasury securities.  The bond maturity dates are nicely laddered. 

Bank of America/U.S. Trust, the Fund’s manager, is positive on the economy:  money supply is up; consumer spending, especially in housing and automobile sales, is up; there is a positive bond yield curve.  On the other hand, BOA/US Trust recognizes that the economy is still at significant risk for COVID 19, especially any surges, US-China trade, and the November Presidential election.  Perhaps most significantly, and not surprisingly, the development or not of a COVID 19 vaccine will weigh on the markets.