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Due to economies of scale, the Foundation is able to charge relatively inexpensive, competitive fees in return for providing fund administration, a variety of donor services, support, guidance and education in your grantmaking, grant processing and expert investment management.
In addition to philanthropic advisory services, fundholders receive quarterly statements of fund activity, bi-annual newsletters and an annual report. The statements summarize gifts to the fund, net investment return, grants made, administrative expenses and any other financial activity.
The establishment, administration and grantmaking expenses of a private foundation can be significant. The fees charged by the commercial gift funds offered by large financial institutions ultimately benefit their shareholders instead of local communities.
For Donor, Corporate and Family Advised funds and Designated funds under $5 million, the Foundation assesses an annual fee equal to 1% of the average annual fund balance with a minimum fee of $500. This fee includes administration and our unique philanthropic advisory services. For Donor, Corporate and Family Advised funds of $5-$10 million, the fee is 0.8% and for funds $10 million and up, 0.6%. Due to the additional staff time and resources needed to assure high quality and effective grantmaking from Field of Interest and Discretionary funds, the fee charged on those funds is 1.6%. The administrative fee for Scholarship funds is 1.5%.
We also encourage private foundations and individuals to contract with us for philanthropic advisory services. For more information, please contact Sharon Reiss, Director of Philanthropic Services, at 203.750.3200.
Fundholders may request a copy of Form 990 filed by the Foundation. The Foundation's 990 is also available from Guidestar.org. |
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