Fee Schedule

Legacy Endowment…The Community Foundation (Legacy) charges an administrative fee on all funds, calculated on the net assets of the fund and taken on a quarterly basis. Permanent funds and CRT Funds are invested in balanced portfolios.

Permanent (Endowment) Funds

                   Minimum to open an account:                                       $5,000

                   FEES:    Up to $50,000                                                    1.5%   annually

                   Above $50,000                                                                 1%

 

ACORN Endowment Funds

                    Minimum to open an account                                         $1,000

                    FEES:                                                                                     2.5%   annually

                    Acorn fund must be added to (annually) to reach

                     $10,000, before a distribution can be made      

 

Non Permanent Funds

 

            Agency and Donor Advised Non Endowment Funds

                     Minimum to open an account:                                      $5,000

                      FEES:    Up to $10,000                                                   2.5%   annually

                                    $10,001 – $750,000                                           1.5%   annually

                                     Over $750,000                                                   1% annually

 

            Pass Through Funds

                        FEES:    $5,000 – $50,000                                               3% One Time

                                      $50,001 – $100,000                                            2% One Time

                                      Over $100,000                                                     1% One Time

 

            Disaster Relief Fund                                                                      1% annually

 

Charitable Remainder Trusts (CRT’s)

                       Minimum to open an account:                                        $250,000

                        FEES:      Up to $1M                                                           1%   annually

                                          Over $1M                                                            .75% annually

                                    Conditions:   

  1. a) Legacy Endowment…The Community Foundation is named as the irrevocable trustee of the Trust                                                
  2. b) Upon termination of the CRT Trust, a minimum of 50% of the remainder will be used to fund an Endowment Fund with Legacy

Any out-of-pocket expenditure by Legacy Endowment…The Community Foundation from a gift (e.g., legal fees, brokerage fees, scholarship expenses, maintenance or selling costs of real estate) will be charged against that gift, in addition to charges set forth above.