How to Get Started

If your organization is ready to invest, download and print the Investment & Custody Agreement. The completed Agreement should be mailed to the Friends Fiduciary office along with a minute of approval and authorization from your governing body. Appropriate governing bodies include Monthly, Quarterly or Yearly Meetings for Business, Boards of Directors, or Governing Committees. Please send any additional information you may have on your funds, including the purposes, restrictions or the historical origins. We will maintain these in our permanent records for your organization. We accept originals or photocopies.

Individual Sub-Accounts

Organizations are encouraged to create individual sub-accounts for assets with trust restrictions or those designated or restricted for different purposes, so that the income and principal value of each can always be individually determined.

Semi-Annual Distribution

The semi-annual distribution is processed as of June 20 and December 20. For each sub-account constituents may choose whether to receive the full payout or to reinvest all or part of the distribution. Please complete the section of the Investment & Custody Agreement that requests this information. We encourage all constituents receiving distributions to sign up for direct deposit. Please complete the form that is also part of the Investment & Custody Agreement. For those not on direct deposit, checks will be mailed with distribution statements.

Additions and Withdrawals

Once invested, constituents can add or withdraw funds on any business day. When depositing additional funds, please indicate your organization or meeting and the name of the specific sub-account(s) to be credited. For wire transfers, always call our office in advance for instructions.

Requests for withdrawals must be made in writing by an authorized individual(s). Please note the amount, the specific sub-account from which the withdrawal should be made, and include either bank routing and account information for wire transfer or mailing information for a check. Withdrawals are processed as soon as received and wire transfers are generally complete within 1-2 days. Please allow 5-7 business days to receive a check.

Total Withdrawals

When a request is received for the complete withdrawal of any sub-account, 80% of the value of the sub-account, based on the previous month-end value, will be processed and paid out to your organization as for any other withdrawal.  The balance will be paid out after the final month-end valuation is determined.  The final payment will be processed as soon as this month-end reconciliation is completed.

Transfers

Transfers among sub-accounts are processed as withdrawals.

Statements and Reports

Income distribution statements are mailed each June 20 and December 20. We encourage all constituents to authorize direct deposit for the income distribution by completing the form in the Investment & Custody Agreement. Quarterly statements are mailed within three weeks of the end of each quarter. Constituent organizations also receive a quarterly newsletter and a copy of the Consolidated Fund Annual Report.