The Episcopal Diocese of Long Island is pleased to offer all churches in the diocese and other organizations affiliated with the diocese the option to invest in the Investment Fund of the Episcopal Diocese of Long Island, along with additional financial support and resources, as outlined below.  

These programs are overseen and directed by Joy Frazier, our Director of Finance. Please contact her with inquires. 

Key Financial Resources

Investment Fund of the Episcopal Diocese of Long Island 

The Investment Fund of the Episcopal Diocese of Long Island is open to all churches in the diocese and other organizations affiliated with the diocese.   

The Investment Fund seeks to maximize total return with reasonable risk. Investments in the fund are currently $130M and the fund is overseen by the Trustees of the Estate with support from the Investment Advisory Committee and J.P. Morgan Investment Management. The fund is audited annually by the diocesan independent auditors.   

The Investment Fund offers two important advantages to congregations who choose to participate; the opportunity to be part of a larger investment pool with economies of scale and the careful monitoring of investment managers, fees and performance with a well-defined procedure to make changes as necessary.   

Inquiries about the fund are always welcome.  Please contact Joy Frazier x113 or jfrazier@dioceseli.org. 

Facts About the Investment Fund

Subscriptions

Checks for investment should be made payable to the Investment Fund of the Diocese of Long Island and mailed to Diocese of Long Island, 36 Cathedral Avenue, Garden City, NY 11530.  Funds are typically invested within a week of receipt, and those funds receive the income, gains, losses and fees from the beginning of the month in which they are invested. 


Alternatively, funds can be sent via ACH or wire.  
Every account is assigned a unique “record number.” 

Monthly Statements

Monthly statements are mailed to all account holders around the 18th business day of the following month. 

Monthly Distribution

Monthly distributions can be paid at a rate authorized by the Trustees of the Estate. The annual distribution rate is 4.5. If an account does not wish to take a monthly distribution, those funds continue to stay invested in the portfolio.  

Monthly distributions are typically sent on the 15th day of every month via check or ACH. 

The monthly distribution at the portfolio level is determined by taking the average fund value of the past 36 months * annual distribution rate (generally 4.5%) / 12. This amount is then distributed to individual account holders based on their ownership percentage of the fund as of the latest month-end valuation. For example, distributions sent on March 15 are based on values as of January 31.   

Net Asset Value

The net asset value is calculated by the beginning market value, adjusted for contributions, distributions, transfers, fees, income received, accruals, and realized and unrealized gains and losses. 

Withdrawals

Requests for withdrawals may be made at any time and must be sent via written request to Joy Frazier at jfrazier@dioceseli.org.  

For partial withdrawals, the funds withdrawn do not participate in the income, gains and losses in the month that they are withdrawn. For a full redemption of an account, the account receives the latest known value of the account, adjusted for any distributions, contributions, and transfers since that value date. 

Requests are typically processed within a week of receipt. However, if over 5% of the total fund is in redemption, it may take longer to receive funds. 

Investment Performance Reports

2024

Previous Reports by Year