Foundation fees contribute to costs associated with administering a fund at the Foundation. These costs include the bookkeeping and auditing of each fund as well as staff time devoted to investment oversight, grant-making and exercising the required due diligence over grants made from funds to nonprofits or scholarship recipients. Fees help pay for these professional services.
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.
Fee Schedule (effective December 19, 2007)
|
Fund or Gift Type |
Annual Foundation Fee as
% of Average Asset Value |
Minimum
Annual Fee |
|
Donor Advised |
1.1% up to $1 million
0.8% $1 to $5 million
0.6% $5 to $25 million
0.5% $25 to $75 million
0.2% in excess of $75 million |
$250 |
|
Non-advised (unrestricted or Field of Interest) |
1.3% |
$250 |
|
Scholarships |
1.5% (1.8% for loans) |
$250 |
|
Designated or Agency |
0.7% to $1 million
0.6% for next $4 million
0.5% on balance above $5 million |
$100 |
|
Short-term gifts |
2% one-time fee* |
N/A |
Funds invested for long-term growth are charged quarterly, based on a 20-quarter rolling average of the fair market value. (A 60-month moving average for American Funds investments.)
* 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.
If you have any questions about the Foundation’s fees or services, please call the Foundation Controller or Vice President of Finance at 603-225-6641 or 800-464-6641.
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