Community Foundation of St. Joseph County

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Fee Policy

Fee Policy

I.          STANDARD FEE POLICY

The Community Foundation’s standard administrative fee on all funds is one percent (1%) of market value per year, assessed 1/12% monthly.

II.        LEIGHTON ENDOWMENT FOR THE ADVANCEMENT OF PHILANTHROPY

The establishment of the Leighton Endowment for the Advancement of Philanthropy in December, 1997 will permit the Community Foundation to waive the administrative fee on most endowed funds, effective July 1, 1998.

Prior to establishment of the Leighton Endowment for the Advancement of Philanthropy, endowed funds contributed one percent of their market value annually to the Community Foundation to help defray expenses.  Now waived fees are left invested in each endowed fund, fueling additional growth in corpus, and expanding the grant resources available for charities throughout our community now and in the future.

III.       ADMINISTRATIVE FEE SCHEDULE (effective March 31, 2012):

Standard Fee:  The Community Foundation of St. Joseph County’s standard fee on all funds is 1% of Market Value annually, assessed 1/12% monthly.

Endowed Funds:  Standard fee is waived on most funds, courtesy of Leighton Endowment for the Advancement of Philanthropy.

Core Endowed Funds:  The Community Foundation assesses double the standard fee (2% of Market Value annually, assessed 2/12% monthly) on Core Endowed Funds that require a separate application process and substantial staff support to craft and implement pro-active initiatives.  The distribution rate is reduced accordingly to preserve each core fund’s real value over time.  Core Endowed Funds include Community Endowment, ArtsEverywhere, Seniorr Living.

Scholarship funds:  Standard fee applies (1% of Market Value annually, assessed 1/12% per month).

Philanthropic (Non-endowed) Funds:  Standard fee applies (1% of Market Value annually, assessed 1/12% monthly).

Other non-endowed funds (e.g. charitable gift annuities, special project funds, etc.):  Standard fee applies (1% of Market Value annually, assessed 1/12% monthly).

Supporting Organizations:  .4% of Market Value annually, assessed 1/12% monthly.

The Community Foundation reserves the right to assess a reasonable fee on endowed funds that require an unusual amount of administration or service due to their special nature.  All funds, endowed and other, will continue to cover direct expenses, if any, associated with their initial establishment (e.g. transfer costs, title work, environmental assessments, special legal work, etc.) or non-routine costs of operating the fund.

rev Jun 2017