EGSC Foundation Reinvestment/Administrative Fee Policy
Adopted June 20, 2016
Administrative fees on gifts to the Foundation will be structured in the following way:
- There is a 1% reinvestment fee on endowments (permanently restricted funds) assessed annually on the FMV of the endowment at the fiscal year end. The principal of the endowment will never be in jeopardy due to a fee. If the income from the endowment is not sufficient, the fee will not be charged.
- There will be a one-time 2% reinvestment fee assessed on all non-endowed restricted gifts in the amount of $2,500 or more. Any restricted gifts made below $2,500 will not be assessed a fee. The fill will be assessed at the time of the gift and included in the gift agreement if there is one. The donor can choose to pay the fee separately or take it from the total gift.
- Collected fees will be added to the unrestricted funds balance.
- This will only be effective for gifts going forward beginning 7/1/16.