Administrative Fees
Management Fees
The management of the Foundation’s more than 140 funds is the responsibility of the Foundation’s professional staff. The Foundation processes gifts including the receipt of marketable securities, acknowledges all gifts, records all gifts, investment gains or losses and grants distributions by fund, and makes grant distributions in the appropriate fund’s name, issues semi-annual fund statements, prepares and files all necessary IRS filings and verifies 501c3 status for donor advised recommendations to name a few of the many administrative functions performed.
For these services the Foundation charges 1.0-1.5% of the previous twenty quarters’ average market value as of December 31. The twenty-quarter average is used to minimize the impact of market value volatility on fees charge to the fund. This smoothing process benefits the fund as fees charged are comparable from year to year and provide a steady and predictable stream of revenue for the Foundation.
Investment Fees
The Finance Committee determines the asset allocation and oversees the implementation, activities and performance of the appointed investment professionals. These investment professionals manage the endowment based on the investment strategies provided to them. Investment managers assess an annual fee of about 50-70 basis points (.50-.70%) for their services based on a fund’s prior quarter’s average market value.
For more information about the Foundation’s fees , please contact Joe Baker at 860.229.6018 x314.
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