Type of Fund |
Minimum Fund Balance* | Administrative Fees |
|---|---|---|
| Unrestricted & Preference | $10,000 | 1% annually of a fund's market value, withdrawn quarterly |
| Designated | $10,000 | 1% annually of a fund's market value, withdrawn quarterly |
| Donor Advised | $10,000 | 1% annually of a fund's market value, withdrawn quarterly; for funds under $10,000 a min. fee of $75 per quarter will apply unless the fund fits criteria of a Build-A-Fund |
| Scholarship | $10,000 | If the scholarship requires application and review process, 1.5% annually of a fund's market value, withdrawn quarterly; if a scholarship is designated to a single organization, then the designated fund minimum of $10,000 and fees (1%) apply. |
*Funds can be built to fund-minimum in recommended period of 3-5 years or other time period per written fund agreement.
The fund that receives a credit card gift will incur the transaction fee assessed by the credit card processing company; this fee does not reduce the deductibility of the contribution.
Donors may choose between two investment and spending options:
Managed within the Endowment Pool
If the requested grant amount is larger than the amount available from the spending policy, or larger than the grant amount determined at the establishment of a fund, at least sixty (60) days notice is required for an amount up to 50% of the fund’s then market value, and at least ninety (90) days is required for a distribution amount more than 50% of the fund’s then market value.
Available for Current-use Grantmaking
The amount available for grantmaking will be immediately available on a current basis and will not be managed within the endowment pool and therefore will not have investment performance attributed to the fund.
