CIT Oversight Committee Members Richard Rick Bauzenberger Chair and Congregational Foundation Board of Governor s Rep Member North Shore Congregational 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 Certified Financial Planner CFP and Registered Investment Advisor The Congregational 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 staff at Bell Labs He was a securities broker from 1968 to 1981 and an independent investment advisor from 1981 to 2005 Michael Mike Roos Member North Shore Congregational Church Fox Point WI Cornell College BA degree Harvard Business School MBA degree Mike s early professional career was with Fidelity Investments Strong Capital Management Citibank and Metropolitan Life Currently he is Managing Director of Artisan Partners Limited Partnership a Milwaukee based investment firm managing 58 billion in equity assets Steven Steve Russ Member First Congregational 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 Congregational Church Wauwatosa WI University of Wisconsin BBA degree in Accounting Jim was with Arthur Andersen Co for 37 years 25 as a partner He served for ten years as our Association s treasurer 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 Ex Officio Members Doug Loux Board of Directors Representative How are your investments doing Member Florence Congregational Church Florence MA Jeff Dillon NACCC Treasurer Vice Chair Member Faith Community Church Franklin WI We invite your church to participate in this valuable service Rev Dr Michael Chittum Executive Director Dan Drea Chief Financial Officer Non voting members Print Brochure 1 17
CIT Oversight Committee Members Richard  Rick  Bauzenberger, Chair and Congregational Foundation Board of Governor   s Rep...
What is the Congregational Investment Trust CIT The CIT was created in 1991 as an endowment trust for donor gifts and contributions to the National Association of Congregational Christian Churches Several years later the Trust was reconstituted as a separate 501 c 3 organization and opened to member churches as a vehicle for their endowment gifts Endowment gifts are long term by definition and are invested to preserve the purchasing power of gifts made The CIT pursues this investment objective through a diversified portfolio of stocks and bonds using a moderately balanced allocation of approximately 60 40 stocks fixed income What are the CIT s advantages One important advantage is the top tier investment expertise with multiple levels of oversight First the portfolio is managed by Vanguard Institutional Advisory Services an investment advisory service offered by Vanguard Advisors Inc which is an indirect whollyowned 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 portfolio assets according to four key principles 1 2 3 4 Create clear appropriate investment goals Develop an asset allocation using broadly diversified funds Minimize cost Maintain perspective and long term discipline Second Vanguard offers access to best in class portfolio managers including dozens of carefully screened independent global asset managers Vanguard s Portfolio Review Department performs ongoing evaluations 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 meeting with the investment advisor quarterly These multiple 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 institutional benefit of aggregating assets of individual churches The CIT achieves economies of scale sufficient to partner with a qualified investment professional at a reasonable cost For example the Vanguard relationship provides access to the lowest cost institutional share class of Vanguard Total Stock Market Index Fund which requires a 5 million minimum investment In summary the CIT offers the following benefits 1 Investments selected by a professional advisory service 2 A competitive and often lower cost fee structure 3 A disciplined broadly diversified investment strategy 4 Fiduciary oversight by the experienced CIT Oversight Committee 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 partial or complete must be received by the Trustee in writing USPS or email no later than the last business day of the month for the distribution to occur as of that month end valuation In addition a predetermined dollar amount can be distributed on a regular basis Generally all distributions will be made within seven business days following the month end valuation 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 administrative and investment management Each fee will be prorated and reported on the quarterly statement with the exception of the embedded mutual fund expense ratios Currently the fees are Trustee Administrative Investment Mgt Fund Expenses Total Fees 17 26 43 In keeping fees low we increase the investment return potential How do we participate The church must adopt the Congregational Investment Trust Adoption Agreement and execute the Account Registration Form These forms can be obtained from the NACCC office by calling the administrative contact Dan Drea at 800 262 1620 ext 1616 or emailing him at ddrea naccc org Who can I call if I have any questions For all administrative questions about forms or statements call Dan Drea CIT Administrator at the NACCC office 800 262 1620 ext 1616 For all investment questions please call Rick Bauzenberger CIT Oversight Committee Chair at 262 241 0852
What is the Congregational Investment Trust  CIT   The CIT was created in 1991 as an endowment trust for donor gifts and c...
What is the Congregational Investment Trust CIT The CIT was created in 1991 as an endowment trust for donor gifts and contributions to the National Association of Congregational Christian Churches Several years later the Trust was reconstituted as a separate 501 c 3 organization and opened to member churches as a vehicle for their endowment gifts Endowment gifts are long term by definition and are invested to preserve the purchasing power of gifts made The CIT pursues this investment objective through a diversified portfolio of stocks and bonds using a moderately balanced allocation of approximately 60 40 stocks fixed income What are the CIT s advantages One important advantage is the top tier investment expertise with multiple levels of oversight First the portfolio is managed by Vanguard Institutional Advisory Services an investment advisory service offered by Vanguard Advisors Inc which is an indirect whollyowned 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 portfolio assets according to four key principles 1 2 3 4 Create clear appropriate investment goals Develop an asset allocation using broadly diversified funds Minimize cost Maintain perspective and long term discipline Second Vanguard offers access to best in class portfolio managers including dozens of carefully screened independent global asset managers Vanguard s Portfolio Review Department performs ongoing evaluations 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 meeting with the investment advisor quarterly These multiple 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 institutional benefit of aggregating assets of individual churches The CIT achieves economies of scale sufficient to partner with a qualified investment professional at a reasonable cost For example the Vanguard relationship provides access to the lowest cost institutional share class of Vanguard Total Stock Market Index Fund which requires a 5 million minimum investment In summary the CIT offers the following benefits 1 Investments selected by a professional advisory service 2 A competitive and often lower cost fee structure 3 A disciplined broadly diversified investment strategy 4 Fiduciary oversight by the experienced CIT Oversight Committee 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 partial or complete must be received by the Trustee in writing USPS or email no later than the last business day of the month for the distribution to occur as of that month end valuation In addition a predetermined dollar amount can be distributed on a regular basis Generally all distributions will be made within seven business days following the month end valuation 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 administrative and investment management Each fee will be prorated and reported on the quarterly statement with the exception of the embedded mutual fund expense ratios Currently the fees are Trustee Administrative Investment Mgt Fund Expenses Total Fees 17 26 43 In keeping fees low we increase the investment return potential How do we participate The church must adopt the Congregational Investment Trust Adoption Agreement and execute the Account Registration Form These forms can be obtained from the NACCC office by calling the administrative contact Dan Drea at 800 262 1620 ext 1616 or emailing him at ddrea naccc org Who can I call if I have any questions For all administrative questions about forms or statements call Dan Drea CIT Administrator at the NACCC office 800 262 1620 ext 1616 For all investment questions please call Rick Bauzenberger CIT Oversight Committee Chair at 262 241 0852
What is the Congregational Investment Trust  CIT   The CIT was created in 1991 as an endowment trust for donor gifts and c...
CIT Oversight Committee Members Richard Rick Bauzenberger Chair and Congregational Foundation Board of Governor s Rep Member North Shore Congregational 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 Certified Financial Planner CFP and Registered Investment Advisor The Congregational 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 staff at Bell Labs He was a securities broker from 1968 to 1981 and an independent investment advisor from 1981 to 2005 Michael Mike Roos Member North Shore Congregational Church Fox Point WI Cornell College BA degree Harvard Business School MBA degree Mike s early professional career was with Fidelity Investments Strong Capital Management Citibank and Metropolitan Life Currently he is Managing Director of Artisan Partners Limited Partnership a Milwaukee based investment firm managing 58 billion in equity assets Steven Steve Russ Member First Congregational 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 Congregational Church Wauwatosa WI University of Wisconsin BBA degree in Accounting Jim was with Arthur Andersen Co for 37 years 25 as a partner He served for ten years as our Association s treasurer 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 Ex Officio Members Doug Loux Board of Directors Representative How are your investments doing Member Florence Congregational Church Florence MA Jeff Dillon NACCC Treasurer Vice Chair Member Faith Community Church Franklin WI We invite your church to participate in this valuable service Rev Dr Michael Chittum Executive Director Dan Drea Chief Financial Officer Non voting members Print Brochure 1 17
CIT Oversight Committee Members Richard  Rick  Bauzenberger, Chair and Congregational Foundation Board of Governor   s Rep...