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The Church Commissioners were formed in 1948 by joining together two bodies - Queen Anne's Bounty and the Ecclesiastical Commissioners. The Church Commissioners are based at Church House, Great Smith Street, London. They moved there in March 2007 to work under one roof with the Archbishops' Council and the Church of England Pensions Board.
The Commissioners' role is to manage the Church's historic assets, today invested in stock market shares and property, to produce money to support the Church's ministry. The Church Commissioners meet some 18% of the Church's total running costs.
The Church Commissioners' main responsibilities are: to obtain the best possible long term return from a diversified investment portfolio in order (1) to meet their pension commitments and (2) to provide the maximum sustainable funding for their other purposes such as support for the work of bishops, cathedrals and parish ministry; in doing so, to pay particular regard to making 'additional provision for the cure of souls in parishes where such assistance is most required'; to administer the legal framework for pastoral reorganisation and settle the future of redundant churches.
Source: http://www.cofe.anglican.org/about/churchcommissioners/ (accessed June 2009).