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CIT Brochure 10252022

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The Congrega onal Investment Trust Administra on of the Congrega onal Investment Trust The Congrega onal Investment Trust 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 NACCC 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 Currently over 30 member churches u lize this NACCC service for their endowment and other long term funds Who oversees the management of the CIT The CIT is overseen by a commi ee of experienced members from NACCC member churches who take their duciary responsibility very seriously Investment advisor selec on development and review of Investment Policy and performance reviews with the investment advisor are some of the tasks performed by this Commi ee What is the investment objec ve for the CIT The Oversight Commi ee believes a broadly diversi ed por olio of U S and foreign stocks and bonds with an asset mix of approximately 65 equi es and 35 xed income provides a reasonable risk return expecta on for longer term endowment assets Who is the current investment advisor Vanguard Ins tu onal Advisory Services VIAS one of the largest stewards of non pro t assets in the U S is the current investment advisor VIAS employs a passive or indexed fund approach to por olio construc on Addi onal value is added by way of por olio adjustments based on research on asset classes and strategies and proprietary models and tools from other divisions of Vanguard What bene ts does the CIT o er Professional management by a leading investment advisor Aggrega on of member church assets to allow low cost Responsive servicing by NACCC sta and Community Bank Fiduciary oversight by a commi ee made up of experienced individuals from NACCC member churches What other informa on is available The current Investment Policy Statement and quarterly reviews including performance is available on the NACCC website h ps www naccc org congl investment trust html 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 2 500 will create a fund and an account balance of 1 000 must be maintained At the end of each calendar quarter a statement for your church s fund will be emailed mailed to your 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 In keeping fees low we increase the investment return poten al Currently the fees are Trustee Administra ve 15 Investment Mgt Fund Expenses 25 Total Fees 40 How can we par cipate The church must adopt the Congrega onal Investment Trust Adop on Agreement and execute the Account Authoriza on Form These forms can be obtained from the NACCC o ce Who can I call if I have any ques ons For all administra ve ques ons about forms or statements as well as investment ques ons contact Cheryl Milnes CFO at 414 856 1616 or email at cmilnes naccc org

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CIT Oversight Committee Members Varn Philbrook Chair Member First Congrega onal Church Yarmouth MA The Congregational Investment Trust Je Dillon Vice Chair Member Faith Community Church Franklin WI Patrick Stewart NACCC Treasurer Member First Congrega onal Church Marshalltown IA Richard Davis Congrega onal Founda on Board of Governors Liaison Member Plymouth Church Brooklyn NY Rev Tom Van Tassell NACCC Board of Directors Liaison Member First Congrega onal Church Saugatuck MI Steven Russ Member First Congrega onal Church Wauwatosa WI James H Walsh Member First Congrega onal Church Wauwatosa WI Rev Dr Ashley Cleere NACCC Execu ve Director Cheryl Milnes NACCC Chief Financial O cer An Endowment Investment Program for Member Churches Sta non vo ng Na onal Associa on of Congrega onal Chris an Churches 8473 South Howell Avenue P O Box 288 Oak Creek WI 53154 414 856 1616 Email cmilnes naccc org WWW NACCC ORG 10 22