faqs

Our primary purpose is to oversee the Consolidated Fund, a balanced portfolio of stocks, bonds, and alternatives.

The investment philosophy and objectives of The Church Foundation are to provide the best rate of return for our investors through prudent investments and a distribution payout vehicle to fund mission and ministry. The Church Foundation’s Investment Committee and Board of Directors work closely with our Investment Manager, T. Rowe Price, to ensure the preservation and growth of the investments so that our participants have those assets available when needed.

Consolidated Fund

The management fees are reviewed and set annually by the board of directors. For 2025, TCF charges a fee of .32% to cover administrative and operational costs for the Consolidated Fund. The fee is combined with the investment management fees charged by T. Rowe Price, making the total fees approximately .88%.

Short Term Investment Fund (STF)

The STF management fee is currently .10% and is assessed quarterly. Please note that combined with the investment management fees charged by T. Rowe Price, total fees are approximately 0.32%.

Consolidated Fund

The Church Foundation strives to obtain for investors a cash distribution that supports current operating needs for mission and ministry and honor its fiduciary duty to preserve the future earning power of the investments in all sorts of market conditions.

A distribution spending rate is reviewed and set annually by the board of directors based upon the investment committee’s recommendation. Once the spending rate is set, cash distributions are calculated by applying the approved spending rate to the trailing twelve-quarter average of the Consolidated Fund’s fair market value as of the end of the previous calendar year. We further determine a cash distribution amount per unit (share) price by dividing the total units in the Consolidated Fund held at the end of the previous calendar year by the total estimated cash distribution amount calculated for the current year.

Short Term Investment Fund

There is no distribution for the STF.

Board of Directors

TCF operates under the guidance of a Board of Directors, which plays a critical role in ensuring the Foundation upholds its fiduciary responsibilities and long-term mission. The Board provides strategic direction and governance to support the Foundation’s work in managing endowments and investments on behalf of parishes and institutions within the Diocese of Pennsylvania.

Executive Director

Lori Daniels has been with The Church Foundation since 2014, and was named the Executive Director in 2019. Her leadership, strategic vision, and ability to build strong professional relationships have been instrumental in TCF’s growth. She holds an M.S. in Management with a Nonprofit Specialization and a B.S. in Finance, and continues to expand her expertise in nonprofit management, endowments, and investments.

T. Rowe Price

Since 2007, T. Rowe Price has served as The Church Foundation’s investment manager, bringing expertise in managing assets to align with the Foundation’s financial objectives. TCF’s Investment Committee, a key component of the Board’s governance, maintains rigorous oversight of investment activity and performance.

Truist Bank

Since 2017, Truist Bank’s Foundation and Endowments Specialty Practice has served The Church Foundation as custodian and fund accountant, ensuring secure asset management and accurate financial reporting. Their expertise supports TCF’s commitment to fiduciary oversight and long-term financial sustainability.

TCF offers the Consolidated Fund, a high-quality co-mingled investment portfolio, with quarterly distributions. The quarterly review, available on the website, lists the funds that make up the Consolidated Fund.

TCF also offers the Short Term Investment Fund, a diversified portfolio of low-risk assets to preserve capital and minimize exposure to market and interest rate fluctuations. The Short Term Investment Fund is a 50/50 split of T. Rowe Price’s Ultra Short Term Fund and U.S. Treasury Money Fund and the fact sheets are available on our website.

The quarterly review shows the asset allocation of the funds within the Consolidated Fund.

Short Term Investment Fund

This fund is made up of T. Rowe Price’s Ultra Short-Term Bond Fund and U.S. Treasury Money Fund.

While all investors receive quarterly statements, we are available on-demand. We pride ourselves on being customer service driven and typically provide the same day response to a question or request.