GREATER TOLEDO COMMUNITY FOUNDATION
Spending Guidelines & Administrative Fees
Adopted by the Board of Trustees - Effective January 2015
Administrative Fees and Spending Guidelines by Type of Fund
Administrative fees vary by the type of Fund, as outlined below. The minimum administrative fee for any fund is $100 annually. All funds are also charged an annual bank and recordkeeping fee of .12%. The spending guideline (the amount available annually for distribution from a fund) is calculated using the Estimated Real Rate of Return, less the Foundation's administrative fee percentage. The spending guideline is applied to the five-year average market value of a fund.
Spending Guideline = | 3.80% |
GTCF Administrative Fee = | .95% |
Spending Guideline = | 3.80% |
GTCF Administrative Fee = | .95% |
Spending Guideline = | IRS regulations mandate net income must be distributed |
GTCF Administrative Fee = | .95% |
Spending Guideline = | 4.25% |
GTCF Administrative Fee = | .50% |
The above fees are for funds with a five-year average market value of $2.5 million or less. Once a fund’s average five-year market value exceeds $2.5 million, a fee of .1% will be charged on the excess.
Example – An unrestricted fund with a five-year average market value of $3 million would be assessed fees as follows:
$2.5 million x .95% = | $23,750 |
$500,000 x .1% = | 500 |
Total Fee | $24,250 |
(Rev. 12-2016)