Donations and Bequests for Church Purposes, Inc (D&B) was established in 1863 by an act of Connecticut’s legislature, the General Assembly, to manage, invest, reinvest, sell or transfer gifts, devices, and bequests for support of the institutions, parishes, and missionary work of the Protestant Episcopal Church in the diocese of Connecticut. At first glance, this may seem strange. After all, “separation of Church and State,” is a founding principle of our nation and a value held by The Episcopal Church. However, prior to the 20th century, organizations such as D&B, which held funds in trust for its participants, could only be created by an act of the Connecticut General Assembly.
Today, D&B exists as a separate organization from ECCT, with its own Board of Trustees and Director of Operations. It serves as a fiduciary agent for ECCT and as a trustee for donors making bequests to support specific aspects of the mission of God in Connecticut and beyond. Its purpose continues to be to manage endowment, bequests, and assets of the parishes, institutions, and Missionary Society of ECCT by investing sustainably and providing prudent oversight of the funds in its care in order to more faithfully participate in God’s mission.
As of 2021, D&B has 126 participants consisting of 115 parishes and 11 diocesan related organizations. It holds over 450 separate accounts in the fund with a combined market value of approximately $148 million.