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Administrative Services & Fee Schedule

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ADMINISTRATIVE SERVICES
There are costs associated with administering a fund at Licking County Foundation—which include bookkeeping and auditing for each fund as well as staff time devoted to investment oversight, making grants, acknowledging contributions, and exercising the required due diligence over grants to nonprofits or scholarship recipients. The Foundation charges modest administrative fees to help pay for these professional services.

With support from these fees, the Foundation can also respond to community needs, convene organizations around important issues, track community trends and serve as a conduit to bring new charitable resources to the area. Efficient and effective, Licking County Foundation operates at a low cost and keeps expenses at well below 1% of total assets—which is consistent with industry guidelines.

ADMINISTRATIVE FEE SCHEDULE
Administrative fees support the Foundation as a steward of charitable resources and a provider of wide-ranging community services. The administrative fee is an annual rate based on the type of fund, and calculated quarterly based on the average beginning and ending market value of the fund for the quarter. All fees are charged quarterly according to the fee schedule below or a minimum of $250 per year, which ever is higher. This minimum fee will be waived on new funds for the first full year from the date of the fund’s establishment. Funds are also charged for direct costs incurred by the fund, such as appraisal fees, legal fees and probate costs. There is no fee to establish a fund. These fees are not inclusive of the investment management fees. This fee schedule is effective as of July 1, 2012 and replaces previous schedules.

Unrestricted Funds and Field of Interest Funds: 0.5%
Or Minimum Annual Fee: $250

Scholarship Funds:
Assets up to $500,000: 1.0%
$500,001 - $1,000,000: 0.8%
Over $1,000,000: 0.6%
Or Minimum Annual Fee: $250

Donor Advised and Designated Agency Funds:
Assets up to $500,000: 0.5%
$500,001 - $1,000,000: 0.45%
Over $1,000,000: 0.4%
Or Minimum Annual Fee: $250

Agency Endowment Funds and Project Funds:
Assets up to $100,000: 0.5%
$100,001 to $1,000,000: 0.3%
Over $1,000,000: 0.1%
Or Minimum Annual Fee: $250

Community Charitable Funds:
An annual flat management fee of $100 will be assessed at the time a deposit to the fund is made. In addition, no interest earnings will be credited to these pass-through funds.

Real Estate:
The total assets of the fund (cash and real estate) will be charged an annual administrative fee per the fund’s type and the administrative fee schedule above; and the value of the real estate assets will be charged an additional annual fee of 0.5%.

Supporting Organizations:
No fees will be charged to supporting organizations until such time as a supporting organization and the Licking County Foundation enter into a contract to provide administrative services.

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