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accounts with mutual funds
and/ or one or more investment
accounts with The Trustees of
the Funds of the Diocese of
Virginia, as necessary and
appropriate for purposes of
receiving and investing
contributions to the
Endowment Fund and managing
and utilizing the proceeds of the
Endowment Fund's investments
in accordance with the terms of
this document. The Vestry shall
be notified by the Board of
Trustees when opening any
additional accounts. All
accounts shall be opened in the
name of the Endowment Fund
and all disbursements
authorized by the Board of
Trustees, and shall require the
signatures of two members of
the Board of Trustees. The
Board of Trustees shall be
authorized to incur and pay all
expenses that are necessary
and proper for the
establishment, maintenance,
and operation of the
Endowment Fund as
contemplated herein. The
Endowment Fund shall be
subject to an audit with the
scope and period of the audit to
be determined by a formal
action of the Vestry.
The Endowment Fund shall be
subject to an internal review
with the scope and period of
the internal review to be
determined by a formal action
of the Vestry.
Governance and Administration In managing the affairs of the
Endowment Fund, the members
of the Board of Trustees shall
conduct the business of the
Endowment Fund as fiduciaries
in accordance with the
applicable canons and laws of
the Diocese of Virginia of the
Episcopal Church and the
In managing the affairs of the
Endowment Fund, the members
of the Board of Trustees shall
conduct the business of the
Endowment Fund as fiduciaries
in accordance with the
applicable canons and laws of
the Diocese of Virginia of the
Episcopal Church and the