OPERATING PRINCIPLES:

It fulfills those objectives by:

• Serving as the trustee of The Combined Fund of the Episcopal Diocese of Milwaukee and encouraging widespread involvement therein.
  

• Serving as a steward for donors who, over the years and in the future, have entrusted or will entrust, assets to its care.
  

• Developing initiatives that will lead to the efficient development of endowment and investment pools.

The Combined Fund is a central common investment fund. This Fund is a longer-term investment vehicle which offers the continuity of professional management. In addition to making predetermined quarterly distributions to its participating members, it provides an opportunity for capital appreciation. Unit holders of the Fund also have access to an institutional money-market fund which may be used for the investment of shorter term cash reserves.

All permanent Endowment funds are managed subject to permanent endowment policies. Central to the policies is the "total return" concept of investing. The long-term goals of these policies are to increase annual distributions; to return a sum equal to the original investment every fifteen years; and, to double the value of the original investment every eighteen to twenty years.

Trustees uses separate financial resources available to it to undertake endowment building efforts and to bring together groups of individuals representing diocesan entities to work together in accomplishing common objectives.