Church Pension Group Releases Report on the Origins and Sources of Its Assets
08 Mayo 2024 - 10:30AM
Business Wire
Developed in Response to Resolution 2022-A129
from the 80th General Convention of The Episcopal Church
The Church Pension Group (CPG), a financial services
organization that serves The Episcopal Church, released a report on
the origins and sources of its assets (cpg.org/A129). The
report was developed in response to Resolution 2022-A129:
Resolution for a Forensic Audit of the Funds of the Domestic and
Foreign Missionary Society from the 80th General Convention of The
Episcopal Church.
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The Church Pension Group has released a
report on the origins and sources of its assets (cpg.org/A129). The
report was developed in response to Resolution 2022-A129:
Resolution for a Forensic Audit of the Funds of the Domestic and
Foreign Missionary Society from the 80th General Convention of The
Episcopal Church. (Graphic: Business Wire)
In an effort to understand historical financial connections to
the enslavement of humans, the slave trade, and racial injustice,
Resolution 2022-A129 urged CPG to research the sources of wealth of
the donors to The Church Pension Fund (CPF), which was founded in
1917, and share the results of our historical research.
Patricia Favreau, Executive Vice President and Chief
Communications Officer of CPG, who led efforts around the research
and development of the report, commented, “While our research did
not reveal direct ties between The Church Pension Fund’s top donors
and the institution of slavery, we acknowledge that wealth
accumulation for much of the 19th century cannot be separated from
the economics of enslavement. We decided to take a deeper look and
share any indirect legacy connections that we uncovered, and we
found a few.”
Mary Kate Wold, CEO and President of CPG, said, “We were glad to
undertake this research. We want to be transparent about the
history of The Church Pension Fund, which is worthy of study. It is
my hope that readers also will focus on what CPG is doing in the
present to address the long tails of racial discrimination.”
CPG’s Approach to This Study
To respond to Resolution 2022-A129, CPG reviewed historical
records in its possession, consulted publicly available resources,
solicited input from its Research & Data team, read biographies
of its most famous original funders, read other books of history
from relevant time periods, and engaged an outside researcher who
specializes in late 19th and early 20th century US history.
The full report can be found at cpg.org/A129.
About the Church Pension
Group
The Church Pension Group (CPG) is a financial services
organization that serves The Episcopal Church. It maintains three
lines of business—benefits, property and casualty insurance, and
publishing. CPG provides retirement, health, life insurance, and
related benefits for clergy and lay employees of The Episcopal
Church, as well as property and casualty insurance and book and
music publishing, including the official worship materials of the
Church. Follow CPG on Facebook, X (formerly Twitter), YouTube,
Instagram, and LinkedIn. cpg.org
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version on businesswire.com: https://www.businesswire.com/news/home/20240508351800/en/
Media: C. Curtis Ritter Senior Vice President Head of
Content & Creative Services 212-592-1816 critter@cpg.org