Investment Philosophy, adopted 11/3/96

As Endowment Trustees, we recognize our fiduciary responsibility
and consider safety a key factor in managing our investments.

We shall avoid investment instruments such as:

                    Commodities
                    Real Estate
                    Limited Partnerships
                    Options
                    Derivatives

We look for a return equaling 5% of our total assets in dividends
and interest.  We plan to give this money away.

In addition, we look for capital appreciation that will keep the
fund value ahead of inflation and provide for some growth.

We shall seek out investments that are either "neutral" or mesh
with our own interpretation of "Social Responsibility."

We may avoid investments with more than a 10% interest in:

                    Tobacco
                    Gambling
                    Nuclear Power
                    Weapons of War

We may avoid investments that have a documented negative impact
upon:
                    Our Environment
                    Personnel Policy
                    Women
                    Gay, Lesbian, Transgender or Bisexuals
                    Emerging Nations
                    Community Relations

We may invest in organizations that do good works, like our past CD
with the South Shore Bank of Chicago that grants loans in "red-
lined' neighborhoods.

For guidance in such "socially responsible investing," we look for
reference to:

     "Investing for Justice, Socially Responsible Investments for
     Unitarian Universalist Congregations," by David E. Provost &
     William J. Gardiner of the Unitarian Universalist Association.
     
     Another reference is Ethical Investing by Amy L. Domini and
     Peter D. Kinder, Addison-Wesley Publishing Company, 1986.
     
We welcome the suggestion of investments that we might find to be
"socially responsible."