6.5.6 Accounts and Transactions for the Investment Portfolio
6.5.6.1 Investment Poretfolio Account Classifications
The minimum Investment Pool balance for each account is $25,000. Investment Portfolio accounts are charged an asset-based management fee.
Investment Portfolio accounts are classified as follows:
Surplus funds – Unrestricted funds, not subject to donor-imposed restrictions
Designated funds – Funds designated by the location for a specific project
Restricted funds – Donor-restricted gifts/donations that are designated by the donor for a particular purpose or project
Building and capital improvements funds – Funds designated for
building construction, major
repairs, or
real estate
Endowment trust funds – Permanently restricted assets, gifts/donations that in accordance with donor restriction require that the corpus be invested in perpetuity and only the income be made available for program operations in accordance with donor restrictions; the
Finance Council and
College of Consultors approve the establishment of endowment funds, such as
autonomous pious foundations
Prepaid tuition fees for high school
– Funds designated for payment of tuition and fees for the next school year
6.5.6.2 Deposits and Withdrawals
All deposits and withdrawals must be accompanied by a properly completed and executed transmittal form and supporting documentation, such as invoices, if applicable. See the
Archdiocese of Los Angeles Investment Portfolio: Investment Pool Deposits, Withdrawals and Transfers.
Required signatures:
Elementary school withdrawals in excess of $3,000 require the signature of the pastor/administrator; if the withdrawal is made from an endowment or investment account, the pastor/administrator must approve, regardless of the amount.
Parish, elementary school, and parish high school withdrawals in excess of $20,000 require the signature of the regional auxiliary bishop.
Archdiocesan high school withdrawals in excess of $20,000 require the signature of the archdiocesan deputy superintendent of high schools.
Endowment withdrawals are governed by the endowment charter.
6.5.6.3 Loan Payments
Most current and all new
Investment Portfolio loan payments are processed and debited electronically from the location's designated
bank account. Prepayments may be made at any time.
6-22-21, 12-19-2023