This newsletter is sent to clergy, lay leaders, and diocesan staff.

"We screen out tobacco, alcohol, armament; and we positively select for things like the Genesis Fund, which is affordable housing here in Maine."

- Nat Henshaw, secretary, Trustees of Diocesan Funds

Reflections on Balance

I serve both as a member of the Trustees of Diocesan Funds and the Special Commission to Study Diocesan Investments. What has impressed me in these roles, as well as in my professional, personal, and spiritual life is the importance of balance. A wise colleague of mine once told me, “Our strengths over utilized are our weaknesses” and therefore balance in everything we do is crucial.

The diocese, its parishes and resources, both human and financial, have the opportunity to profoundly impact the broader community, the state, and society through our Episcopal mission, reflecting the teachings of Jesus Christ. At the same time, the diocese and its parishes are encountering aging congregations, diminishing ongoing support, and church infrastructure suffering from natural decay and deferred maintenance. Through the grace, wisdom, and efforts of those who came before us, the trustees are blessed to manage $40 million in investments on behalf of the diocese and its parishes. This blessing reflects the aspirations our predecessors held dear for our Episcopal Church.

Therefore, we are faced with competing objectives: advancing our mission; assuring the diocese has the resources to meet its current and future obligations; and respectfully fulling the aspirations of those who have been so generous in the past. All are crucial to our viability and success as a diocese.

The Special Commission will be presenting its report to the Annual Convention next month. Its work is not complete. However, I believe we as a diocese will discern that an appropriate balance of all three objectives will be required.

—Carlos Mello, Trustees of Diocesan Funds

The Trustees manage financial assets with a market value of approximately $40 million. Approximately 58 percent of these assets are for the benefit of specific congregations or diocesan organizations, either because the congregation or diocesan organization received a bequest under a will in care of the Trustees, received a lifetime gift in care of the Trustees or chose to place the congregation’s or diocesan organization’s assets with the Trustees. The balance of the assets was received either by bequest or lifetime gift for the benefit of the Trustees, Bishop, or Diocese and are administered pursuant to the discretion of the Trustees, Bishop, or Diocesan Council. All of the assets are held in either restricted or unrestricted funds pursuant to the donor’s wishes. Learn more at episcopalmaine.org.

Year-To-Date Investment Performance Gains/Losses, 2024 and 2023

The Equity Fund currently represents approximately 75% of the total investment portfolio and the Fixed Income Fund represents approximately 25% of the investment portfolio. The Trustees recently approved directing its money managers to align to a 60% equity, 40% fixed income asset allocation. This shift will occur over the next six months. 

* ESG uses Environmental, Social and Corporate Governance factors in measuring the sustainability and ethical impact of investments in companies. AllianceBernstein also utilizes ESG principles in managing its portion of the Trustees’ equity portfolio.

** Annualized 60% MSCI ACWI / 40% Barclays Global Aggregate Index (Hedged)

For the YTD Investment Report and the Trustees 2024 Report to the 205th Diocesan Convention, click here and scroll down to Reports to Diocesan Convention.

What's your favorite thing about autumn in Maine?

• I love the conscious shift to a new season, new chores, new perspectives. - Rev. Timothy Boggs
• Fall is absolutely my favorite season, and always has been. In Maine, besides the obvious beauty, I love fall because our congregations turn from the summer and its ministry rhythm to digging down into the local community and serving God’s people. Even the beauty of foliage on Route 27 from Eustis to Kingfield can’t beat the energy coming from our people! - Rt. Rev. Thomas Brown
• Borrowing from John Steinbeck: Autumn never fails to amaze. It is a glory and can’t be remembered so that it always comes as a surprise. - Frank Governali
• Apple picking, wood smoke, beautiful leaves. - Nat Henshaw
• Cool crisp days for work in the garden. - Elizabeth McMullen
• I love the fall colors, particularly on very warm days that remind us of summer, and, at the same time, warn us that winter is coming. - Sandra McPhee
• The clean crisp air and the brilliant colors—it is often the best season of the year. - Carlos Mello
• It's apple season (I have a lot of apple trees on my property). - Nick Penfield

Trustees are elected by Diocesan Convention to four-year terms. Beginning with the 2023 election, Trustees are limited to two consecutive four-year terms. None of the trustees' terms will be up in 2024. Your chance to run will happen again in 2025!

Read trustee bios and learn more here.

Have a question for the trustees?