UNION COUNTY FOUNDATION “FRONTIER FUNDS”
Policy & Guidelines for
Union County Foundation “Frontier Funds”
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- The intent is to encourage the establishment of named Funds in situations where the $5000 minimum balance is an obstacle.
- The program requires scheduled contributions resulting in structured Fund balance growth over time.
- Minimum balance is $500
- At least every 6 months (Jan.1 and June 1) a structured contribution of at least $100 must be added to the Fund.
- 100% of distributions are to benefit Union Co. residents and/or organizations.
- The Fund shall receive no interest credits until it becomes a “stand alone” established Fund as defined by carrying a $5000 balance for a continuous 6 month period.
- The Fund shall not be assessed Admin. fees until the balance reaches $5000 during any quarterly billing cycle.
- If contribution requirements are not met the Fund will: 1.) be transferred to a similar Fund designated at the time of establishment or 2.) be liquidated and distributed in accordance with the Fund agreement.
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