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CIT Oversight Commi ee Members Richard Rick Bauzenberger Chair Member North Shore Congrega onal Church Fox Point WI Nichols College BBA degree His early professional career was with the trust departments of Fidelity Bank Wells Fargo Mellon Bank BNY Mellon Marine Trust Bank One Chase Bank and Marshall Ilsley Bank BMO Harris Bank From 1997 2007 Rick was the principal of his own investment firm LakeShore Investment Management where he served as a Cer fied Financial Planner CFP and Registered Investment Advisor The Congrega onal Investment Trust Richard Dick Peterson Member Faith Community Church Franklin WI University of Illinois BS Electrical Engineering New York University MS Electrical Engineering Dick began his professional career as a member of the tech sta at Bell Labs He was a securi es broker from 1968 to 1981 and an independent investment advisor from 1981 to 2005 Steven Steve Russ Member First Congrega onal Church Wauwatosa WI Carroll University BA Keller Graduate School of Management MBA Steve has served as a financial advisor since 1989 and has been with Robert W Baird since 2005 James Jim H Walsh Member First Congrega onal Church Wauwatosa WI University of Wisconsin BBA degree in Accoun ng Jim was with Arthur Andersen Co for 37 years 25 as a partner He served for ten years as our Associa on s treasurer Ex O cio Members 8473 South Howell Avenue P O Box 288 Oak Creek WI 53154 800 262 1620 Fax 414 764 0319 Email naccc naccc org www naccc org Je Dillon NACCC Treasurer Vice Chair Member Faith Community Church Franklin WI Rev Dr Mar n Hall Board of Directors Liaison Senior Minister North Shore Congrega onal Church Fox Point WI How are your investments doing Varn Philbrook Congrega onal Founda on Board of Governors Liaison Member First Congrega onal Church Yarmouth MA We invite your church to participate in this valuable service Rev Dr Michael Chi um Execu ve Director Dan Drea Chief Financial O cer Non vo ng members 8 17
What is the Congrega onal Investment Trust CIT The CIT was created in 1991 as an endowment trust for donor gi s and contribu ons to the Na onal Associa on of Congrega onal Chris an Churches Several years later the Trust was recons tuted as a separate 501 c 3 organiza on and opened to member churches as a vehicle for their endowment gi s Endowment gi s are long term by defini on and are invested to preserve the purchasing power of gi s made The CIT pursues this investment objec ve through a diversified por olio of stocks and bonds using a moderately balanced alloca on of approximately 65 35 stocks fixed income What are the CIT s advantages One important advantage is the top er investment exper se with mul ple levels of oversight First the por olio is managed by Vanguard Ins tu onal Advisory Services an investment advisory service o ered by Vanguard Advisors Inc which is an indirect wholly owned subsidiary of The Vanguard Group Vanguard Vanguard is a client owned investment management company responsible for over 3 trillion of investment assets based in Valley Forge PA Applying Vanguard s investment methodology the investment advisor manages the por olio assets according to four key principles 1 2 3 4 Create clear appropriate investment goals Develop an asset alloca on using broadly diversified funds Minimize cost Maintain perspec ve and long term discipline Second Vanguard o ers access to best in class por olio managers including dozens of carefully screened independent global asset managers Vanguard s Por olio Review Department performs ongoing evalua ons and oversight of each fund and its managers The third level of oversight is provided by a group of individuals from member churches across the country These individuals most of whom have experience serving as corporate fiduciaries oversee the CIT program by reviewing reports and mee ng with the investment advisor quarterly These mul ple levels of management and supervision provide a disciplined investment process that avoids unnecessary risk to the assets entrusted to the CIT A further CIT advantage is the ins tu onal benefit of aggrega ng assets of individual churches The CIT achieves economies of scale su cient to partner with a qualified investment professional at a reasonable cost For example the Vanguard rela onship provides access to the lowest cost ins tu onal share class of Vanguard Total Stock Market Index Fund which requires a 5 million minimum investment In summary the CIT o ers the following benefits 1 Investments selected by a professional advisory service 2 A compe ve and o en lower cost fee structure 3 A disciplined broadly diversified investment strategy 4 Fiduciary oversight by the experienced CIT Oversight Commi ee The Trust should not be used as a short term or money market vehicle as principal values will fluctuate How is the CIT Administered How will we have access to our funds invested in the CIT The trustee Community Bank NA NY values all accounts on the last business day of each month Any requests for withdrawals either par al or complete must be received by the Trustee in wri ng USPS or email no later than the last business day of the month for the distribu on to occur as of that month end valua on In addi on a predetermined dollar amount can be distributed on a regular basis Generally all distribu ons will be made within seven business days following the month end valua on What is the minimum to invest and how is the account balance reported A minimum investment of 2500 will create a fund and an account balance of 1000 must be maintained At the end of each calendar quarter a statement for each of the church s funds will be emailed mailed to the church What are the costs and how are they paid There are two types of fees administra ve and investment management Each fee will be prorated and reported on the quarterly statement with the excep on of the embedded mutual fund expense ra os Currently the fees are Trustee Administra ve Investment Mgt Fund Expenses Total Fees 17 26 43 In keeping fees low we increase the investment return poten al How do we par cipate The church must adopt the Congrega onal Investment Trust Adop on Agreement and execute the Account Registra on Form These forms can be obtained from the NACCC o ce by calling the administra ve contact Dan Drea at 800 262 1620 ext 1616 or emailing him at ddrea naccc org Who can I call if I have any ques ons For all administra ve ques ons about forms or statements call Dan Drea CIT Administrator at the NACCC o ce 800 262 1620 ext 1616 For all investment ques ons please call Rick Bauzenberger CIT Oversight Commi ee Chair at 262 241 0852
What is the Congrega onal Investment Trust CIT The CIT was created in 1991 as an endowment trust for donor gi s and contribu ons to the Na onal Associa on of Congrega onal Chris an Churches Several years later the Trust was recons tuted as a separate 501 c 3 organiza on and opened to member churches as a vehicle for their endowment gi s Endowment gi s are long term by defini on and are invested to preserve the purchasing power of gi s made The CIT pursues this investment objec ve through a diversified por olio of stocks and bonds using a moderately balanced alloca on of approximately 65 35 stocks fixed income What are the CIT s advantages One important advantage is the top er investment exper se with mul ple levels of oversight First the por olio is managed by Vanguard Ins tu onal Advisory Services an investment advisory service o ered by Vanguard Advisors Inc which is an indirect wholly owned subsidiary of The Vanguard Group Vanguard Vanguard is a client owned investment management company responsible for over 3 trillion of investment assets based in Valley Forge PA Applying Vanguard s investment methodology the investment advisor manages the por olio assets according to four key principles 1 2 3 4 Create clear appropriate investment goals Develop an asset alloca on using broadly diversified funds Minimize cost Maintain perspec ve and long term discipline Second Vanguard o ers access to best in class por olio managers including dozens of carefully screened independent global asset managers Vanguard s Por olio Review Department performs ongoing evalua ons and oversight of each fund and its managers The third level of oversight is provided by a group of individuals from member churches across the country These individuals most of whom have experience serving as corporate fiduciaries oversee the CIT program by reviewing reports and mee ng with the investment advisor quarterly These mul ple levels of management and supervision provide a disciplined investment process that avoids unnecessary risk to the assets entrusted to the CIT A further CIT advantage is the ins tu onal benefit of aggrega ng assets of individual churches The CIT achieves economies of scale su cient to partner with a qualified investment professional at a reasonable cost For example the Vanguard rela onship provides access to the lowest cost ins tu onal share class of Vanguard Total Stock Market Index Fund which requires a 5 million minimum investment In summary the CIT o ers the following benefits 1 Investments selected by a professional advisory service 2 A compe ve and o en lower cost fee structure 3 A disciplined broadly diversified investment strategy 4 Fiduciary oversight by the experienced CIT Oversight Commi ee The Trust should not be used as a short term or money market vehicle as principal values will fluctuate How is the CIT Administered How will we have access to our funds invested in the CIT The trustee Community Bank NA NY values all accounts on the last business day of each month Any requests for withdrawals either par al or complete must be received by the Trustee in wri ng USPS or email no later than the last business day of the month for the distribu on to occur as of that month end valua on In addi on a predetermined dollar amount can be distributed on a regular basis Generally all distribu ons will be made within seven business days following the month end valua on What is the minimum to invest and how is the account balance reported A minimum investment of 2500 will create a fund and an account balance of 1000 must be maintained At the end of each calendar quarter a statement for each of the church s funds will be emailed mailed to the church What are the costs and how are they paid There are two types of fees administra ve and investment management Each fee will be prorated and reported on the quarterly statement with the excep on of the embedded mutual fund expense ra os Currently the fees are Trustee Administra ve Investment Mgt Fund Expenses Total Fees 17 26 43 In keeping fees low we increase the investment return poten al How do we par cipate The church must adopt the Congrega onal Investment Trust Adop on Agreement and execute the Account Registra on Form These forms can be obtained from the NACCC o ce by calling the administra ve contact Dan Drea at 800 262 1620 ext 1616 or emailing him at ddrea naccc org Who can I call if I have any ques ons For all administra ve ques ons about forms or statements call Dan Drea CIT Administrator at the NACCC o ce 800 262 1620 ext 1616 For all investment ques ons please call Rick Bauzenberger CIT Oversight Commi ee Chair at 262 241 0852
CIT Oversight Commi ee Members Richard Rick Bauzenberger Chair Member North Shore Congrega onal Church Fox Point WI Nichols College BBA degree His early professional career was with the trust departments of Fidelity Bank Wells Fargo Mellon Bank BNY Mellon Marine Trust Bank One Chase Bank and Marshall Ilsley Bank BMO Harris Bank From 1997 2007 Rick was the principal of his own investment firm LakeShore Investment Management where he served as a Cer fied Financial Planner CFP and Registered Investment Advisor The Congrega onal Investment Trust Richard Dick Peterson Member Faith Community Church Franklin WI University of Illinois BS Electrical Engineering New York University MS Electrical Engineering Dick began his professional career as a member of the tech sta at Bell Labs He was a securi es broker from 1968 to 1981 and an independent investment advisor from 1981 to 2005 Steven Steve Russ Member First Congrega onal Church Wauwatosa WI Carroll University BA Keller Graduate School of Management MBA Steve has served as a financial advisor since 1989 and has been with Robert W Baird since 2005 James Jim H Walsh Member First Congrega onal Church Wauwatosa WI University of Wisconsin BBA degree in Accoun ng Jim was with Arthur Andersen Co for 37 years 25 as a partner He served for ten years as our Associa on s treasurer Ex O cio Members 8473 South Howell Avenue P O Box 288 Oak Creek WI 53154 800 262 1620 Fax 414 764 0319 Email naccc naccc org www naccc org Je Dillon NACCC Treasurer Vice Chair Member Faith Community Church Franklin WI Rev Dr Mar n Hall Board of Directors Liaison Senior Minister North Shore Congrega onal Church Fox Point WI How are your investments doing Varn Philbrook Congrega onal Founda on Board of Governors Liaison Member First Congrega onal Church Yarmouth MA We invite your church to participate in this valuable service Rev Dr Michael Chi um Execu ve Director Dan Drea Chief Financial O cer Non vo ng members 8 17
