801 Organizations Established For Investment Management
801 ORGANIZATIONS ESTABLISHED FOR INVESTMENT MANAGEMENT
801.1 The Inter Parish Loan Fund, Inc.:
The “IPLF” was incorporated in the State of Maryland specifically for the purpose of providing depository, investment, and financing services to parishes, schools and other institutions affiliated with the Roman Catholic Archbishop of Baltimore. The Inter Parish Loan Fund, Inc. currently offers two financial services products:
•Deposit and Loan Program – accepts demand deposits, on which it pays interest at short-term rates, and provides loans for approved capital projects.
•Investment Program – makes available, under an investment management agreement with a financial institution acting as custodian, a range of investments for longer term goals.
The Board of the IPLF has adopted Operating Guidelines for the administration of each Program offered by the IPLF which are provided to, and, by its participation in such program are agreed to by, each parish, school and other institution utilizing such Program.
801.2 The Catholic Community Foundation of the Archdiocese of Baltimore, Inc.:
The “CCF” has been established to manage endowment for parishes, schools and other Archdiocesan organizations. Endowments are created for the purpose of providing a permanent source of funding for particular operating needs of such organizations. Within CCF there are four major types of endowments: Field of Interests, Organizational, Individuals, and Donor Advised.
801.3 Goals of the IPLF and CCF:
The Boards of Inter Parish Loan Fund, Inc. and The Catholic Community Foundation of the Archdiocese of Baltimore, Inc., as well as the Archdiocese, are all committed to educating pastors and parish/school leadership about the Archdiocesan Investment policy and procedure and to encouraging parishes and schools to establish and maintain an appropriate level of savings and operating fund and to develop endowments and utilize investment opportunities to meet their investment objectives