Diocesan Community Investment Fund


The Trustees amended the amount set aside for “Socially Responsible Investments” from 1% of the unrestricted endowment to a tithe, being 10% of unrestricted endowment, and that resolved that this amount be made available through a new fund to be called the Diocesan Community Investment Fund. This Fund will be a portion of the Fixed Income Asset Allocation of Diocesan Endowment Funds. On average, it is expected that the fund will return 5% interest to the Diocese.


PURPOSE - The Fund will be available to support working capital and other requirements of congregational, Diocesan, or other development projects in the Diocese and to support the goals and objectives of the Diocese. The fund may be used together with other loan fund or grant programs in the diocese or as independent projects. The fund may help to support multi-year programs. The interest rate is to be based upon the financial need of the project and may change throughout the life of the project.


ELIGIBLE APPLICANTS - Eligible applicants shall be all congregations and missions of the Episcopal Diocese of Rochester that are in good standing in the diocese and any 501c-3 or other tax-exempt organizations with whom the Diocese seeks to undertake outreach mission.


PROCEDURE - Applications will be made to the Office of the Bishop and may be for projects lasting one year or for multiple years. It is expected that the purpose of the request will be to enhance the mission and ministry of the congregation through increased vitality while meeting goals and objectives of the Diocese. The Committee on Social Responsible Investments of the Trustees of the Diocese will be the Committee to review and recommend any projects to the Trustees for funding.

To Apply, a congregations or organization will:

  1. Call the Bishop’s Office, Office of the Canon for Finance, Resources and Community Development and schedule a meeting to discuss the possible project. A meeting will be set-up with the Canons who should meet with the applicant.
  2. Prepare a schedule of the required materials and steps needed to undertake and secure funding for the project. (with the assistance of the Bishop’s Office)
  3. Fill out an application for a project on a form provided by the Diocese.
  4. Provide any documentation requested by the SRI committee of the Trustees.
  5. At the request of the Bishop’s Office and/or Trustee’s Committee, attend and present the proposed budget and project to the SRI committee of the Trustees and/or to the Trustees.
  6. If needed, attend a meeting with the Standing Committee of the Diocese and any other bodies that are required for approval of this loan and/or other funds for the project.

To Secure Funding, a congregation will:

  1. Complete the Diocesan Investment Fund Application and all attachments and submit to the SRI Committee: Attention: Canon for Finance, Resources and Community Development
  2. If a 501c-3 organization, provide the most recent audited statement and current financial report and annual budget.
  3. Present a project to the SRI Committee of the Trustees who will review the application and, if they concur, will recommend approval to the Trustees of the Diocese
  4. Seek and obtain any required Canonical approvals
  5. Provide all documentation required for funding.
  6. Agree to make periodic reports as requested to the Trustee Committees and other organizations of the Diocese.
  7. Sign a note between the congregation and the Diocese agreeing to the payments and the purposes of the project.
  8. If other than a congregation, provide requested security for the loan. (mortgage, etc.)



Prepayment of the Loan - The Loan shall be pre-payable, without penalty, at any time at the option of the Congregation or organization receiving the funds.

Loan Repayment

  1. The loan shall be repaid monthly according to the amortization schedule approved.
  2. The applicant may request a restructuring of the Loan if this is needed during its term. Restructuring may be approved by the Bishop. Such restructuring will be reported to the SRI committee and the Trustees at the next regularly scheduled meeting.
  3. If a loan is 30 days in arrears, it shall be considered in default. Default procedures will be a part of the note and documents signed at closing.
  4. The Bishop, with the advice of the SRI committee will determine if a loan in default is to be collected.
  5. At the direction of the Bishop with notice to the Trustees, the Diocese may seek all remedies to collect a loan.
  6. In certain circumstances, the Bishop may decide to have the Diocese write-off the loan if, in his/her judgment repayment is unlikely.

Contact: Canon Karen Noble Hanson
knhanson@rochesterepiscopaldiocese.com