Investment and Foundation Fees
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Donors who establish a fund with the New Hampshire Charitable Foundation pay two fees: the investment management fee and the Foundation fee.
Investment management fees are those charged by the foundation's various investment managers; Cambridge Associates, our investment consultant; and our custodian bank. The investment management fee changes as the mix of managers changes, but averages 1.1 percent. The foundation reports investment returns net of investment manager fees.
The foundation fee helps offset the costs associated with administering a fund including bookkeeping, auditing and grantmaking due diligence. The foundation fee varies according to the fund type (see fee schedule below).
With support from fees and direct donations for operations, the foundation responds to community needs, convenes organizations around important issues, tracks community trends and serves as a conduit for additional resources.
In this sense, fees are more than simple charges for the delivery of professional services associated with funds; they are an important contribution to the community itself.
Foundation Fee Schedule (effective January 1, 2012)
Fund or Gift Type
|
Annual Foundation Fee as % of Average Asset Value
|
Minimum Annual Fee
|
Donor Advised
|
1.1% on balance up to $1 million
0.8% on next $4 million
0.6% on next $20 million
0.5% on next $50 million
0.2% on balance above $75 million
|
$250
|
Non-advised (Unrestricted)
|
1.2% |
$250 |
| Non-advised (Field of Interest) |
1.3% |
$250 |
Scholarships
|
1.3% (1.8% for loans) |
$250 |
Designated or Agency
|
0.7% on balance up to $1 million
0.6% on next $4 million
0.5% on balance above $5 million |
$100 |
Short-term gifts
|
2% one-time fee* |
The minimum fee is the lesser of $100 or 25% of the gift and the maximum fee is $1,000 per gift.
|
Funds invested for long-term growth are charged fees quarterly, based on a 20-quarter average of the fair market value. Short-term interest earned on balances prior to investment is retained by the foundation to support operations.
* Instead of the annual foundation fee, this one-time charge applies to gifts that are not associated with long-term funds. A short-term gift is invested in liquid assets and granted out entirely in a relatively short time period after the gift is made.
Additional terms are set for some funds, such as those requiring additional or special services like individual requests for proposals and staffed grant committees.
Contact us
If you have any questions about the foundations fees or services, please contact Rebecca Carr, controller at email or Michael Wilson, chief financial officer at email.