The Church Foundation (TCF), chartered in 1926 and merged with The Trustees of the Protestant Episcopal Church of the Diocese of Pennsylvania (1882) has as its purpose:
To receive, hold, manage and dispose of real and personal property, which the corporation may in any lawful manner acquire for use of the Diocese of Pennsylvania or any congregation thereof;
To support any benevolent, charitable, educational, or missionary undertaking of said Church; and in furtherance thereof;
To receive and hold property real and personal of and for religious, beneficial, charitable, educational and missionary societies and associations of said Church and to execute trusts thereof.
The Church Foundation is a Pennsylvania nonprofit corporation and is run by a Board of sixteen (16) Directors made up of three (3) clergy and twelve (12) laity and chaired by the Bishop of the Diocese. As such The Church Foundation:
Serves as trustee, custodian and investment adviser for assets owned by churches, chapels, missions and institutions in the Diocese.
Administers Diocesan real estate matters as required. The Foundation holds title to more than 100 church and Diocesan properties.
The Foundation’s primary activity is overseeing the Consolidated Fund (CF), a balanced fund of stocks and bonds providing a diversified investment medium for the Diocese of Pennsylvania, its parishes and other church-related institutions.