|
 |
|
Donors to the Fargo-Moorhead Area Foundation have access to an array of personalized philanthropic planning and advisory services. From help in designing a family’s plan for distribution of funds to evaluating grants, the Foundation works to connect donors with their passion for supporting the charitable needs of the community.
The Foundation provides record keeping services to its donors that include:
• Confirmation of all gifts received and grants made.
• Mailing of all approved grants directly to nonprofit organizations along with a letter listing
donors recommending the gift (unless the donor wishes to remain anonymous).
• Providing an annual investment statement listing gifts, grants, fees, and interest and gains
on investments.
• Providing a written annual report listing all grants made by donors in a calendar year.
• Providing donors with IRS Form 8283 for gifts of non-publicly traded securities and real estate
necessary for filing of individual tax returns.
In exchange for the services it provides, the Foundation charges an annual administrative fee against the balance of a donor’s fund as follows:
• Scholarship Funds and Pass-Through (non-endowed) Funds that are administered by the
Foundation are charged a fee of 200 basis points (two percent) per year.
• Donor Advised Funds, Field-Of-Interest Funds, Designated Funds and funds for Supporting
Organizations are charged a tiered fee with funds up to $1 million charged 100 basis points
(i.e., one percent) per year, and funds of $1 million or greater charged 25 basis points
(one-quarter of one percent) per year.
• Agency Funds created by non-profit organizations receive a 20 percent discount on the
normal fee structure.
Investment management fees are separate from the administrative fee of the Foundation and vary depending on the investment option requested by the donor. The Foundation does not receive any fee revenue from the investment management of funds that it maintains.
An endowed Donor Advised Fund, Designated Fund, Unrestricted Fund, Field-of-Interest Fund or Scholarship Fund may be established in the Foundation with as little as $25,000.
A Giving Growth Group (3G) Fund may be established with a gift of any amount with the intent to grow the fund to $25,000 over a six year period or less. If, after six years, a 3G fund’s balance does not exceed $25,000 it will be rolled over into the unrestricted grants fund of the Foundation.
|
|
|
|
|
|
