NEW DIT INVESTMENT OPTION NOW AVAILABLE - DIOCESAN FOSSIL FUEL FREE FUND
  

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CELEBRATING 200 YEARS OF PRUDENT INVESTING
 

MECHANICS OF INVESTING IN THE DIT

(A) Opening and Funding DIT Accounts

An Episcopal Diocese of Massachusetts affiliated parish or organization can open one or more accounts in the DIT by sending a letter of instruction to the Trustees of Donations specifying the following:

  • The number of accounts to be opened (An unlimited number of separate accounts can be opened at no cost.)

  • The dollar amount to be assigned to each account

  • The name to be assigned to each account (e.g., Smith Endowment Fund, Jones Building Fund, etc.)

  • The Stock Fund / Income Fund / Diocesan Fossil Fuel Free Fund allocation of the dollar amount assigned to each account (e.g., 65% stocks (Stock Fund or Diocesan Fossil Fuel Free Fund) / 35% Income Fund)

  • Whether the dividends earned in each account are to be distributed or reinvested (Dividends are distributed or reinvested at the end of each quarter; dividend distributions occur on or around the twelfth business day of the month following the end of each quarter.)

  • Any standing instructions for monthly or quarterly distributions of principal

The letter of instruction, signed by an officer of the organization (e.g., Warden, Treasurer, etc.), a signature authorization form (click here for this form), and a check made out to the “Diocesan Investment Trust” or “DIT” should be mailed to:

Trustees of Donations
Attention: Investment Coordinator
138 Tremont Street
Boston, MA 02111

(B) Contributions 

Participants can contribute to their DIT accounts (see below for a special Diocesan Fossil Fuel Free Fund restriction*) once a month on the last business day of the month. Checks made out to the “Diocesan Investment Trust” should be accompanied by a letter of instruction signed by an officer of the participant organization. The letter should specify:

  • The name of the participant organization

  • The name of the account to which the contribution should be assigned (e.g., Smith Endowment Fund)

  • The percentage of the contribution to be assigned to Stock Fund, Income Fund, and Diocesan Fossil Fuel Free Fund components of the account (e.g., 65% Stock Fund / 35% Income Fund or 65% Diocesan Fossil Fuel Free Fund / 35% Income Fund. You may elect to allocate funds dedicated to equity investing to either the Stock Fund or the Diocesan Fossil Fuel Free Fund or to both in whatever proportion you wish as long as the amount allocated to the latter is at least $25,000.)

Since contributions are invested in the DIT on the last business day of the month, they need to reach the DIT Investment Coordinator prior to the last business day of the month. Contributions received prior to the last business day of the month are held in an interest bearing money market account.

* The minimum for an initial contribution to the Diocesan Fossil Fuel Free Fund is $25,000 and the minimum for additional contributions will be $20,000.

(C) Withdrawals

Participants can make withdrawals from their DIT accounts (see below for a special Diocesan Fossil Fuel Free Fund restriction*) once a month on the last business day of the month. Withdrawal instructions signed by an officer of the participant organization need to reach the DIT Investment Coordinator at least two business days prior to the last business day of the month. These instructions should indicate:

  • The name of the participant organization

  • The name of the account from which the withdrawal is to be made (e.g., Smith Endowment Fund)

  • The percentage of the withdrawal to be made from the Stock Fund and Income Fund components of the account (e.g., 65% Stock Fund / 35% Income Fund or 65% Diocesan Fossil Fuel Free Fund / 35% Income Fund) 

Withdrawal instructions are processed on the last business day of the month in which they are received. Participant organizations can expect to receive instructed withdrawals on or around the third business day of the month following the one in which they are received.

DIT participants may elect to receive withdrawals and dividend distributions either by check or by electronic transfer. (Click here for an Electronic Transfer Application Form.)

*Withdrawals from the Diocesan Fossil Fuel Free Fund are permitted on a monthly basis with ten days advance notice.

(D) Maintaining Stock Fund / Income Fund Balances in DIT Accounts

Participants are encouraged to monitor the Stock Fund / Income Fund balances in their accounts. Rebalancing instructions are processed on the last business day of the month in which they are received. These instructions should indicate

  • The name of the participant organization

  • The name of the account to which the rebalancing instructions should be applied (e.g., Smith Endowment Fund)

  • The desired Stock Fund / Income Fund balance (e.g., 65% Stock Fund / 35% Income Fund or 65% Diocesan Fossil Fuel Free Fund / 35% Income Fund)

Participants can elect either to automate or to delegate the rebalancing of their accounts. Click here for a Rebalancing Application Form to select one of these options.)

(E) Account Statements

DIT participants receive quarterly statements of their accounts. Participants can access their statements by logging onto this website, clicking on the "DIT Account Statements" tab and then on the "Participant Login" link. Hard copies of participant statements are mailed to participants upon request. Statements are available for online access or by mail on or around the twelfth business day of the month following the end of each quarter.


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