A Message from Mary Kate Wold

Chief Executive Officer and President

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Stability in Action
How is CPG continuing to serve the Church during uncertain times? Listen as Mary Kate Wold, Chief Executive Officer and President, explains how preparation, planning, and a set of core values are helping us stay focused.
A Commitment to Equality
The sin of systemic racism affects us all, and we at CPG stand united with The Episcopal Church and with others who are actively pursuing change. We understand the critical role diversity, inclusion, and equality play in the health of our organization and in our service to the Church. We take care to recruit, develop, and promote talented employees of color into positions of authority because we believe diversity at every level at CPG contributes to our success.

Whether we are tackling business issues from a variety of perspectives, working with vendors from different backgrounds, collecting and sharing insights regarding racial, ethnic, and other demographic data to help the Church more fully understand trends in deployment and compensation, or publishing books and other materials that aid in pursuing racial reconciliation, we remain committed to Becoming Beloved Community, to being—and doing—better.

We have reiterated that there is zero tolerance for racism at CPG, and our commitment to equality informs everything we do as an employer, a corporate citizen, and an organization that supports and serves the Church.

Dear Friends:

To say these past several months have been challenging would be an understatement—from the COVID-19 pandemic, which has brought illness, death, and market volatility, to the senseless killings of George Floyd, Breonna Taylor, Ahmaud Arbery, and Rayshard Brooks, which have brought urgent attention to the ongoing issue of racial injustice in the United States. During these times of pain and uncertainty, we have remained steadfast in our values, ensuring that we remain a stable and supportive presence, not only for the Church but also for our employees.

Our longstanding commitment to inclusion has resulted in a diverse workforce that continues to thrive, learn, and engage in constructive conversations about difference. Thought leaders such as Catherine Meeks, PhD, Executive Director of the Absalom Jones Center for Racial Healing and Church Publishing author; Shawn Rochester, author of The Black Tax: The Cost of Being Black in America; and The Most Reverend Michael B. Curry have visited with us and have spoken about the experience of racism, the promise of equality, and the difficult work we all are called to do, to love our neighbors as ourselves.

Employee-led affinity groups provide opportunities for people of color and other demographics to support each other, and ongoing training for employees and The Church Pension Fund Board of Trustees (CPF Board) continues to keep issues of equality front and center in our work. Racial tension can undermine the collaborative culture of any organization, and we are doing everything in our power to advance our own understanding so we can create even more space for healing and reconciliation at the Church Pension Group (CPG).

Over the past year, I have travelled extensively around The Episcopal Church to engage in conversations with those we serve. Responding to resolutions passed by the 79th General Convention, we initiated a study of parity and equity in benefits. My conversations with different groups of clergy and lay employees made it clear that these social justice issues extend beyond benefits. Gender, race, geography, and type of ministry are perceived to play a role in professional development, career trajectory, compensation philosophy, and benefits. We will be summarizing our findings in various reports to General Convention and Executive Council, and we look forward to supporting the Church as it tackles these important social issues.

The COVID-19 pandemic has called us to adjust operations to reflect a temporary new reality, and we have strived to maintain a steely focus through so much change. Instead of visiting with you face-to-face, we are responding to client needs from our homes and reaching out to our stakeholders via phone, email, social media, GoToMeeting, and Zoom. Where would we be without technology?

The pandemic has not stymied our usual collaboration across our organization and with the CPF Board. Even in this challenging environment, our commitment to those we serve remains unwavering. CPG exists to support the clergy and lay employees in their calling to spread the gospel, and we do this by providing, among other things, the highest possible income in retirement that is consistent with exemplary fiscal stewardship on our part and with the evolving needs of the Church.

This Annual Report tells the story of our ongoing commitment to stability—to professional, compassionate, and trustworthy support of the people and institutions that depend on us to be here in certain and uncertain times. I hope you enjoy it.


Mary Kate Wold
Chief Executive Officer and President

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