The Church Corporation

The Church Corporation

Year Established: 1889
President:  Sam Dodson – St. James, Houston (home congregation)

The Church Corporation board consists of six members. Five are elected by Diocesan Council (held annually in February) and these five positions have five-year terms with staggering termination dates. The Bishop of the Diocese serves as the sixth member.

The Church Corporation has multiple functions. First, the Church Corporation holds title to all real property in the Diocese of Texas for the use of congregations, schools, and institutions. The only exception is that title to property can be held by the other foundations of the Diocese of Texas.  The Church Corporation board must approve all plans for property to be bought, sold, encumbered, or leased.

Secondly, the Church Corporation serves as the trustee for assets that are given or bequeathed to the Episcopal Diocese of Texas. Some of these funds are restricted and others have unrestricted use. The Church Corporation trustees will regularly make grants from these funds. These funds are comingled into an investment pool called the Participating Funds.  Congregations, schools, and institutions affiliated with the Episcopal Diocese of Texas are permitted to invest in the investment pool that has a market value of $96.5 million. The Participating Fund is co-invested with all of the foundations of the Episcopal Diocese of Texas.  The value of that collective investment pool is $1.9 billion.

Lastly, the Church Corporation oversees housing trusts. The Clergy Housing Trust offers second lien loans to clergy looking to acquire a home, especially in cases when they have secured a position with a congregation in a different city or town. The Episcopal Housing Trust assist with the housing needs of current bishops of the Episcopal Diocese of Texas.

For more information about the Participating Fund or Clergy Housing Trust loans please contact David Fisher at dfisher@epicenter.org