The following Policies & Procedures apply to all funds except when noted.

Types of Funds

• Unrestricted
• Field-of-Interest
• Donor-Advised
• Designated
• Pass-Through
• Scholarship
• Agency (Special) (Non-permanent)

Establish a Fund

In order to establish a fund, a properly executed Fund Agreement must be submitted to the Executive Director. An initial gift or pledge of $5,000.00 should accompany the Agreement.

In addition, the Agreement should include an addendum delineating any additional services provided by the Foundation and the associated fees. Policies & Procedures will likewise become and addendum to the Fund Agreement.

The Executive Committee of the Board of Directors must formally approve the establishment of all funds. All parties will receive a signed copy of the Fund Agreement upon approval.

Fees

The following administrative fee, assessed on an annual basis, is calculated on a daily basis and booked quarterly.

• 1% on balances up to $999,999
• 75 Basis Points on balances from $1,000,000 to $2,999,999
• 65 Basis Points on balances $3,000,000 and over

• 1% administrative fee (annually) on all monies OR a minimum of $75 per quarter, whichever is greater
PLUS
• 5% service fee on all contributions

A financial management fee up to ½ of 1% (50 basis points) of the total fund balance is assessed on an annual basis.

There are no administrative fee assessed for a Pass-Through Fund for donors who have a named fund within the foundation or who otherwise contribute to its operations. For others, we hope and expect you will "tip the house."

Included Services

• Preparation and mailing of gift acknowledgements.
• Preparation of copies of correspondence and/or other materials.
• Preparation of fund spreadsheet, if requested, on a quarterly basis (January, April, July and September).

Contributions

Contributions to funds will be accepted at any time during regular business hours. The Foundation will accept personal, corporate and cashier checks, money orders, securities and real estate.

Financial Reporting

All fund holders receive an annual report at the end of the fiscal year (September 30th). Quarterly reports are provided, if requested, at no fee.

Individual fund balances are maintained at all times and are available with 24-hour notice. Balances include credits and debits, but do not include earnings and fees for the current quarter.

Earnings and fees are calculated on a daily basis but posted quarterly. Quarterly balances are generally available four to six weeks following the end of the quarter and include all credits, debits, earnings and fees.

Financial Reporting for Agency (Non-permanent)

Quarterly spreadsheets showing credits, debits, earnings and fees will be provided generally four weeks following the end of the quarter.

Request for checks must be made in writing by the fund originator or designated representative. Instructions for handling checks, such as mail to vendor with invoice or phone for pickup, also should be made in writing.