2024-03-08T14:58:02-06:00 2023-10-31 042689883 WOLF & COMPANY PC 255 STATE STREET BOSTON MA 02109 990 2022-11-01 237103106 DIOCESAN INVESTMENT TRUST OF THE DIOCESE OF LOS ANGELES DIOC 2134822040 840 ECHO PARK AVENUE LOS ANGELES CA 90026 LYNNE BRICKNER TREASURER 2134822040 2024-03-08 1 LYNNE BRICKNER 000005584 0 HARRY A KALAJIAN JR CPA P00464296 6174399700 2024-03-08 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z RT REV JOHN H TAYLOR 840 ECHO PARK AVENUE LOS ANGELES CA 90026 5650928 0 X WWW.DIOCESELA.ORG X 1949 CA THE PURPOSE OF THE TRUST IS TO PROVIDE AN INVESTMENT FUND FOR VARIOUS PROTESTANT EPISCOPAL CHURCHES AND ORGANIZATIONS IN THE DIOCESE OF LOS ANGELES AND THE DIOCESE OF SAN DIEGO. 8 7 0 8 1629 0 0 0 0 0 -359196 177213 1113 0 -358083 177213 0 0 0 0 0 0 0 0 0 189703 178406 189703 178406 -547786 -1193 44696567 46372361 138399 3137912 44558168 43234449 THE PURPOSE OF THE TRUST IS TO PROVIDE AN INVESTMENT FUND FOR VARIOUS PROTESTANT EPISCOPAL CHURCHES AND ORGANIZATIONS IN THE DIOCESE OF LOS ANGELES AND THE DIOCESE OF SAN DIEGO. 0 0 92640 THE TRUST PROVIDES A WELL DIVERSIFIED INVESTMENT VEHICLE FOR THE PROTESTANT EPISCOPAL CHURCHES AND ORGANIZATIONS OF THE DIOCESE OF LOS ANGELES AND THE DIOCESE OF SAN DIEGO TO INVEST THEIR FUNDS. THE INVESTMENT FUNDS IN WHICH THE TRUST INVESTS RETAINS THE INCOME AND AS SUCH THE TRUST EARNS APPRECIATION AS WELL AS CURRENT INVESTMENT INCOME. 92640 1 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X LYNNE BRICKNER 3107136161 840 ECHO PARK AVE LOS ANGELES CA 90026 X X THE RT REV JOHN HARVEY TAYLOR PRESIDENT/TRUSTEE 1.00 X X 0 0 0 ROBERT E WYCOFF TRUSTEE 1.00 X 0 0 0 DONALD HALL TRUSTEE 1.00 X 0 0 0 JOHN BRUNSON TRUSTEE 1.00 X 0 0 0 CANON ANDREW TOMAT VP/SECRETARY/TRUSTEE 1.00 X X 0 0 0 LYNNE M O BRICKNER TREASURER/TRUSTEE 1.00 X X 0 0 0 CANON JAMES H ALEXANDER TRUSTEE 1.00 X 0 0 0 RYAN NAKANO-HARLOW TRUSTEE 1.00 X 0 0 0 SHERMAN TELLEEN TRUSTEE (RESIGNED 12/2022) 1.00 X 0 0 0 0 0 0 0 0 0 0 0 321936 1629 320307 5328992 5473715 -144723 -144723 -144723 177213 0 1629 175584 50700 50700 54240 54240 ADMIN FEE - NRS 38400 38400 ADMIN FEE - DIOCESE 34950 34950 OTHER EXPENSES 116 116 178406 92640 85766 0 261266 219381 14385 29818 44419017 46123162 1899 0 44696567 46372361 81743 86058 56656 3051854 138399 3137912 X 44558168 43234449 0 0 0 0 44558168 43234449 44696567 46372361 X -1193 2243338 -3565864 X X 0 1 X 1 0 X X 1 THE PROTESTANT EPISCOPAL CHURCH IN THE DIOCESE OF LOS ANGELES 951684078 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 LONG TERM INVESTMENT FUND 44191677 F DIT ENDOWMENT FUND 1931485 F 46123162 PAYABLE FOR TRUST SHS SURRENDE 3051854 3051854 X 2420551 2243338 2243338 177213 0 177213 178406 0 178406 0 178406 PART X, LINE 2: THE TRUST IS EXEMPT FROM FEDERAL INCOME AND CALIFORNIA FRANCHISE TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND CALIFORNIA REVENUE AND TAXATION CODE SECTION 23701D. THE TRUST HAD NET UNRELATED BUSINESS INCOME DURING THE YEARS ENDED OCTOBER 31, 2023 AND 2022. ACCORDINGLY, NO PROVISION FOR FEDERAL AND CALIFORNIA INCOME TAXES IS NECESSARY. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE TRUST MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE TRUST AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE TRUST HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE OR THE CALIFORNIA FRANCHISE TAX BOARD. THE TRUST HAS ANALYZED THE TAX POSITIONS TAKEN BY THE TRUST, AND HAS CONCLUDED THAT AS OF OCTOBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE TRUST'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES. THE TRUST IS CURRENTLY OPEN TO AUDIT UNDER THE APPLICABLE STATUTES OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE FOR THE YEARS ENDED OCTOBER 31, 2020 THROUGH 2023 AND BY STATE TAXING AUTHORITIES FOR THE YEARS ENDED OCTOBER 31, 2019 THROUGH 2023. FORM 990, PART VI, SECTION A, LINE 6 THE BOARD OF TRUSTEES VOTE AND MAKE GOVERNING DECISIONS AT THEIR ANNUAL MEETING. THE CHURCHES IN THIS DIOCESE ASSEMBLE IN AN ANNUAL MEETING OF CONVENTION IN EACH CALENDAR YEAR COMMENCING ON A DATE ANNOUNCED OR PROVIDED FOR AT THE ANNUAL MEETING OF THE PREVIOUS YEAR. THE CONVENTION IS COMPOSED OF MEMBERS OF THE CLERGY AND MEMBERS OF THE LAITY AND IT VOTES FOR FOUR OF THE NINE MEMBERS OF THE GOVERNING BOARD. THE BISHOP OF THE DIOCESE OF LOS ANGELES IS THE FIFTH TRUSTEE, WHO HOLDS THE EX-OFFICIO POSITIONS OF TRUSTEE AND PRESIDENT OF THE ORGANIZATION. THE BISHOP IS ELECTED BY CONVENTION. THE FOUR OTHER TRUSTEES ARE ELECTED BY THE FIVE TRUSTEES ELECTED BY THE ANNUAL MEETING OF CONVENTION AND THE OTHER TRUSTEES THEN SERVING. EACH TRUSTEE, EXCEPT FOR THE BISHOP OF THE EPISCOPAL DIOCESE OF LOS ANGELES, SERVES FOR A STAGGERED FOUR-YEAR TERM. FORM 990, PART VI, SECTION A, LINE 7A SEE DISCLOSURE FOR LINE 6 FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER SIGNS THE FORM 990, AS AUTHORIZED BY THE AUDIT COMMITTEE FOLLOWING THE REVIEW OF THE FORM 990 BY THE BOARD OF TRUSTEES FOR AT LEAST FIVE BUSINESS DAYS AND APPROVAL BY THE BOARD OF TRUSTEES OR BY THE AUDIT COMMITTEE AS DELEGATED BY THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ANNUAL DISCLOSURE OF CONFLICTS OF INTEREST OR POTENTIAL CONFLICTS OF INTEREST IS REQUIRED. AFTER SUCH DISCLOSURE, TRUSTEE SHALL RECUSE HIM/HERSELF FROM THE GOVERNING BOARD WHILE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. IF THERE IS REASONABLE CAUSE TO BELIEVE THAT A TRUSTEE HAS FAILED TO DISCLOSE A CONFLICT OF INTEREST, THE BOARD SHALL INFORM THE TRUSTEE OF THE BASIS FOR SUCH BELIEF AND AFFORD THE TRUSTEE AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. FORM 990, PART VI, SECTION B, LINE 15 NO OFFICER OR TRUSTEES IS BEING COMPENSATED FOR THEIR TIME DEVOTED TO THE ORGANIZATION. FORM 990, PART VI, SECTION C, LINE 19 THE FOLLOWING ORGANIZATIONAL DOCUMENTS OF THE ORGANIZATION WILL BE AVAILABLE (FOR INSPECTION OR COPYING) AT THE ORGANIZATION'S MAIN OFFICE DURING NORMAL BUSINESS HOURS AT NO CHARGE: INTERNAL REVENUE SERVICE DETERMINATION LETTER ARTICLES OF INCORPORATION BY-LAWS CONFLICT OF INTEREST POLICY AUDITED FINANCIAL STATEMENTS(MOST RECENT) FORM 990 PART VII, SECTION A (F) - RELATED COMPENSATION THE TRUSTEES OF THE ORGANIZATION ARE VOLUNTEERS. ONE TRUSTEE IS AN EX-OFFICIO TRUSTEE AND PRESIDENT AND SERVES AS THE BISHOP OF THE EPISCOPAL DIOCESE OF LOS ANGELES AND HE IS COMPENSATED BY THE DIOCESE OF LOS ANGELES FOR HIS SERVICE AS CLERGY. THE EPISCOPAL DIOCESE OF LOS ANGELES IS AN INVESTOR IN THE FUNDS SPONSORED BY THE ORGANIZATION, AND ALSO PROVIDES DAY TO DAY ACCOUNTING AND ADMINISTRATIVE SERVICES TO THE ORGANIZATION. FORM 990, PART XI, LINE 9: PROCEEDS FROM SHARES ISSUED 1,428,356. DISTRIBUTIONS FOR SURRENDERING OF SHARES -4,994,220. FORM 990, PART XII, LINE 2C: THERE WAS NO CHANGE IN THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. THE PROTESTANT EPISCOPAL CHURCH IN THE DIOCESE OF LOS ANGELES 840 ECHO PARK AVENUE LOS ANGELES CA 90026 951684078 CHURCH CA 501(C)(1) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 THE PROTESTANT EPISCOPAL CHURCH IN THE DIOCESE OF LOS ANGELES M 34950 FMV WILSHIRE CORE FIXED INCOME FUND 4005 KENNETT PIKE GREENVILLE DE 19807 452906732 INVESTMENT DE 0 -300570 6620813 0 0 0 0.03380 WILSHIRE DIVERSIFIED CREDIT FUND 4005 KENNETT PIKE GREENVILLE DE 19807 452906821 INVESTMENT DE 0 -297223 6982124 0 0 0 0.02780 WILSHIRE NON US EQUITY FD 4005 KENNETT PIKE GREENVILLE DE 19807 452908129 INVESTMENT DE 0 164517 5861448 0 0 0 0.09170 WILSHIRE REAL ASSETS FUND 4005 KENNETT PIKE GREENVILLE DE 19807 452906859 INVESTMENT DE 0 926951 10770898 0 0 0 0.11260 WILSHIRE US EQUITY FUND 4005 KENNETT PIKE GREENVILLE DE 19807 452908090 INVESTMENT DE 0 3139209 10430462 0 0 0 0.12780