The Diocesan Development Fund (DDF) was established by the Armidale Diocese in 1992. In September 2014, the Synod passed an Ordinance with a view to re-invigorating the DDF and providing for it to be managed by a Board which reports to Diocesan Council and, in turn, Synod.
The Diocesan Development Fund Ordinance specifies the arrangements under which the DDF is to operate, including details of the guarantee which is provided to the Fund by the Diocese of Armidale.
The primary objective of the DDF is to support the mission of the Diocese by encouraging investors to lodge funds with the DDF and for the Fund to then use those funds to provide loans for projects within the Diocese and to clergy and other Diocesan employees. The DDF makes grants to the Diocese out of the income it earns.
A copy of the Fund’s Identification Statement lodged with the Australian Securities and Investments Commission on 28 February 2017 can be viewed here.