We respect that you are the steward of your parish’s or organization’s treasure. The ToTF mission is to assist you with your endeavor. As with the parable of the talents (“But he who had received the one talent went and dug in the ground and hid his master’s money”), hiding the talent is not an option. The ToTF Trustees are a group of investment and business professionals who direct the management of the funds by carefully overseeing the investment managers’ activities.
The ToTF provides numerous benefits to churches and Diocesan-related organizations in managing their investments beyond what is typically available from banks, brokerage houses, and other investment managers. All levels of investment are encouraged—from a small flower fund to a multi-million-dollar endowment.
Mission Aligned Investing
Trustees of the Funds affirms “the social responsibility of the church and the social implications of the Christian faith.” (Diocese of Virginia Canon 13; Section 2). Our Mission-Aligned Investing Policy commits to Socially Responsible Investing by applying regular screens to our investments based on the Episcopal Church’s No-Buy List. We actively engage in Environmental, Social, and Governance investing by seeking out opportunities to align our values with our portfolio.
The ToTF affords our participants (investors) with access to high quality investment managers. The ToTF Funds are managed by professionals who are experts in specific sectors of the financial markets and overseen by the ToTF Trustees, as advised by our investment consultant, Prime Buchholz.
Our participants benefit from reduced investment costs due to economies of scale. The per share fees are less on the combined ToTF investments than any one participant organization would receive for our level of expertise and oversight.
Our participants benefit from the continuity of management that the ToTF provides. Unlike commercial entities that are bought, sold, and merged, the ToTF has remained in place as an organization of the Episcopal Diocese of Virginia since 1754. The ToTF creates and maintains relationships with our participants over many years through which we often aid in multiple areas such as endowments, building funds, mission funds, staff salary augmentation, and more. As an organization of Episcopalians, we work with our participants in helping them meet their financial objectives in a way few commercial organizations can.
Investing with the ToTF eliminates potential conflict of interest issues that sometimes arise in churches. Rather than favoring the investment advice of parishioner A who is a banker, or parishioner B who is a stockbroker, investing the church’s funds with ToTF ensures the money is invested without any conflicts of interest.
The ToTF provides audited financial reports to our participants. Monthly standard performance statements are sent out, and participants can access an online portal at any time to research the performance of their ToTF investments.
The Trustees of the Funds delivers results. Some examples:
Emmanuel Episcopal Church of Greenwood, Virginia’s Endowment “is one of the ways that Emmanuel Church reaches out to the local community and beyond. Early each year the Endowment Board meets with mission partners, to help decide how to spend the income from our Endowment investments. In 2020 the Endowment gave $142,300 in grants to thirty-one mission partners engaged in good works. The church’s various Endowments are managed as one consolidated fund, currently invested with The Trustees of the Funds.”
Saint Thomas Episcopal Church of McLean, Virginia’s Endowment Fund “was established in 2009 to provide a permanently invested growth and development fund for St. Thomas. Income from the Fund provides both for the long-term needs of the church and for programs not related to ongoing monthly expenses. The principal is invested with The Trustees of the Funds.”
St. George’s Episcopal Church of Fredericksburg, Virginia’s General Endowment Fund (GEF) “was established to ensure a firm financial foundation for the church and to provide additional funds for outreach ministries, programs of the Church, capital additions and/or improvements, and loans for residential purposes to St. George’s clergy and full-time program staff. The GEF is not intended to supplement the Church’s annual operating budget for current expenses that are administrative or operational in nature. GEF funds are primarily invested in the Diocese of Virginia Trustees of the Fund (ToTF) a professionally managed investment portfolio benefiting the churches and organizations of all three Episcopal Dioceses of Virginia.”
Saint Stephens Episcopal Church of Richmond Virginia’s Endowment Fund “was established in 1949 by five parishioners to help ensure the church’s long-term financial well-being. At the end of 2018, the endowment had grown to over $4.68 million thanks to the many parishioners who have made gifts and bequests over the years to continue their support of St. Stephen’s in perpetuity.
The endowment income contributed over $210,000 in 2018 to support the mission and ministries of St. Stephen’s Church. In addition, there are two Community Foundation funds supporting St Stephen’s Church which provided approximately $25,000 in income in 2018. We have chosen to invest the funds with the Diocese of Virginia’s Trustees of the Funds. The endowment plays an important role in the life of St. Stephen’s, offering the opportunity to support the mission of the church and the work of Christ beyond the annual giving campaign.”
St. Anne’s Episcopal Church of Reston, Virginia’s Endowment Fund “launched in mid-2015 with the goal of preparing for and investing in the future to ensure that St. Anne’s mission and ministries would continue to thrive for generations to come. St. Anne’s uses these grants to support the ministries that transform lives, not only within our church and our local community, but also across Virginia and beyond. The endowment fund’s investments are managed by the Trustees of The Funds of The Diocese (TOTF), who serve the Diocese of Virginia and its parishes, with a portfolio valued at $100+ million.”