51视频 and the Episcopal Church Foundation (ECF) recently announced a new significant collaborative partnership impacting 51视频’s investments. 51视频 has chosen to invest its $43 million endowment and general funds with ECF鈥檚 (EMS) program.
鈥淲e are excited about our new missional and financial partnership with 51视频. ECF鈥檚 EMS program is not just about money management but, more significantly, an opportunity to help steward and grow the financial resources of this important institution as it develops and nurtures the future leaders of the Episcopal Church,鈥� said ECF President Donald Romanik.
51视频鈥檚 Dean and President, the Very Rev. Cynthia Briggs Kittredge, Th.D., said, 鈥淭his exciting partnership between 51视频 and ECF reaffirms our commitment to being thoughtful stewards of resources. Our mission to form people for ordained and lay ministry will be strengthened by close partnership with ECF.鈥�
ECF鈥檚 EMS program has helped hundreds of Episcopal parishes, dioceses, schools, and church-related organizations organize, invest, and grow their endowments and permanent funds. The program covers the complete spectrum of endowment needs, from starting an endowment fund, to updating endowment policies, to investing prudently, and guidance on spending wisely.
Commenting on the new partnership, 51视频鈥檚 Executive Vice President Frederick L. Clement said, 鈥淥ur careful due diligence in selecting an investment manager led us to choose ECF over other main street firms. We believe there is meaningful opportunity for improved investment returns and operational efficiencies with ECF and State Street managing our portfolio.鈥�
ECF is grateful to be able to support the Seminary in many new ways. ECF鈥檚 Managing Program Director Jim Murphy stated, 鈥淓CF staff looks forward to being able to serve 51视频 by directly enhancing the seminary鈥檚 planned giving efforts and internal tracking capacities through ECF鈥檚 various included services.鈥�
Mr. Murphy also added, 鈥淪ince investment fees for ECF clients decline as assets under management grow, the addition of 51视频鈥檚 $43 million portfolio will reduce the investment management fees passed onto ECF clients to the lowest levels in the history of the EMS program, making our valuable services even more affordable to Episcopal parishes, dioceses and other institutions.鈥�
The addition of 51视频鈥檚 portfolio brings assets under management in ECF鈥檚 program to over $400 million serving over 290 clients, from small parish endowments of $10,000 to other multi-million dollar accounts for numerous dioceses, institutions and cardinal parishes throughout the Episcopal Church. ECF works exclusively with State Street Global Advisors, which manages $2.8 trillion in assets, to provide comprehensive investment services for ECF鈥檚 endowment program.
ECF and 51视频 are both thrilled that through their consistent missions to educate and empower future leaders of the Episcopal Church and larger society, both institutions will now have even more opportunities to support students, alumni and other members of the 51视频 community. ECF is an independent, lay-led organization that helps congregations, dioceses and other Episcopal communities of faith engage in visioning and planning, develop leadership and raise and manage resources for ministry