A. Any parish or organization in the Diocese of Easton under the supervision of the Bishop of the Diocese of Easton is eligible to purchase shares of the Easton Episcopal Fund.

A. No, but there are costs that are deducted from the Fund’s returns. The direct and indirect cost of the Balanced Fund for the year ended December 31, 2024 was 0.23% of average assets invested in the Fund. For an investor having on average $100,000 investment in 2023, the fee was $228.

A. First, you have to open an account. Under the ACCESS AND FORMS tab on this website, there are downloadable forms for New Account Application, as well as forms for additional Purchase and for Withdrawal and Redemption. In addition, your Vestry must determine who is authorized to make purchases of sell shares in the account and complete a Form to CHANGE AUTHORIZED INDIVIDUALS, which specifies those named as authorized to purchase or sell shares. Once those forms are completed those authorized individuals may access the Fund to purchase or sell shares via telephone.

A. When authorized individuals leave their position, your Vestry should identify newly authorized individuals to the servicing agent, Mutual Shareholder Services, by updating your account via the Form to CHANGE AUTHORIZED INDIVIDUALS. If you do not notify us that an individual is no longer authorized to enter orders, that person will continue to have the ability to send instructions to the Fund. However, money will only be sent to the address of record, either at the bank account specified on the account application form, or to the specific mailing address in the account application form.

A. When you open the account you will specify how you want to receive cash that is withdrawn from the Fund. In most cases, you will give us banking information and money will be sent to your Parish bank account electronically. You may also request that money be sent to you by check. All distributions are made to the Parish address of record. We will not accept instructions to send money to a third party

A. Each year, after carefully considering the Fund’s past performance while also considering current market conditions and indicators and the overall economy, the Board of Managers makes a recommendation of a prudent annual percentage – called the Constant Rate of Return (CRR) – that a parish can withdraw from its accounts in the coming year.  It is a recommendation made annually by the Board of Managers, who rely on reasonable and prudent expectations about investment return, inflation and a general understanding of the needs of parishes. The Board then makes a recommendation to parishes. You are not required to use the Constant Rate of Return for your Parish’s distribution. Some parishes use 4% or less. For 2026, the Board’s maximum recommended Constant Rate of Return is 5%.

The distribution is a decision that is entirely in the hands of the investor vestry or board of directors. No one is required to follow the recommendation of the Board of Managers. However, in determining distribution rate, Parishes should be mindful of the Maryland State law that is applicable to the prudent management of institutional funds.

To calculate your parish’s annual Constant Rate of Return, first calculate the average investment balance you have had in the Fund for the 13 quarters ending September 30 of the year prior to the distribution. Then multiply the average of those 13 quarters by the Constant Rate of Return, and divide that total by 12 to determine the appropriate monthly distribution. (See the tab, Withdrawals and Gifts on the Home page or the FAQ How do I calculate periodic withdrawals below). If your Parish wishes to initiate a Constant Rate of Return, alter your current Constant Rate of Return or use a different calculation to determine either the percentage to withdraw or the dollar amount to withdraw, the authorized person or persons must send instructions to Mutual Shareholder Services specifying the amount and frequency of the desired distribution. The Board no longer notifies Mutual Shareholder Services, the Fund’s servicing agent, as to each parish’s Constant Rate of Return or distribution amount. It is up to each Parish to determine the proper amount of its needs and to notify Mutual Shareholder Services as to its individual distribution percentage and its frequency.

A. No. The Fund can only accept cash investments. If you receive stock that you wish to invest in the Fund, you should sell the stock and invest the cash proceeds in the Fund. If you do not have a brokerage account through which to sell the stock, please call Debra Dragone at 443-480-0037 for assistance in accepting the gift.

A. Every month, you will receive a statement showing all transactions for the current year. If you would like to get information between statements, you need to set up your online account access by calling Mutual Shareholders Services (440-922-0066). Once established, you can get information at any time via the ACCESS AND FORMS tab on this website, which will lead you to Mutual Shareholders Services secure website with a drop-down list in which you will find Easton Episcopal Balanced Fund. You can access your Parish’s accounts there.

A. Mutual Shareholder Services, our shareholder servicing agent, has an independent website that will
provide you with Fund holding information. You can access this information by going to
to http://www.mutualss.com. Click on the “Fund Info” tab, select “Account Info” and then select “Easton Episcopal Balanced Fund” (this website is for all Mutual Shareholder Services Fund clients so the list of Funds is long). Enter your account number and password and the history of your account will appear. Your account number and password are the same if you are accessing your account through the Mutual Shareholders Services website or via the access link on this website.

Each year, after carefully considering the Fund’s past performance while also considering current market conditions and indicators, the Board of Managers makes a recommendation of a prudent annual percentage – called the Constant Rate of Return (CRR) – that a parish can withdraw from its accounts annually. For 2026, the Board’s maximum recommended Constant Rate of Return currently is 5%.

To calculate the Constant Rate of Return for your parish for 2026, find the actual investment balance for each of the 13 quarters prior to and including September 2025, i.e. the investment balance of the quarters ending:

September 30, 2022; December 31, 2022; March 31, 2023; June 30, 2023; September 30, 2023; December 31, 2023; March 31, 2024; June 30, 2024; September 30, 2024; December 31, 2024; March 31, 2025; June 30, 2025; September 30, 2025.

Add all 13 of these quarter-end balances and divide by 13. This will give you the average balance over the prior 13 quarters (a three-year period). Multiply that average by the Constant Rate of Return you seek. (As of the July 29, 2025 meeting, the Board’s recommendation for 2026 is 5%, though some parishes may choose to take less).

This gives you the specific annual distribution you can take from the portfolio. To determine a monthly withdrawal, divide that total by 12. For a quarterly withdrawal, divide that total by 4. Using a September cut-off for your last calculation in determining your withdrawals allows you to input the expected cash flow into your organization’s next annual calendar year budget.