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Union County Foundation Funds |
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Funds Housed at the Union County Foundation
Right now, this section just lists all the funds. (see current page). I think this makes the Frontier funds & and Admin Fees get lost.
What do you think about having something like:
Foundation Funds cover a wide range of fields of interest to the community: agriculture-related, arts & culture, community development, crime and drug prevention,
education, health, historical & military, human services, recreation, religion, seniors, youth development, and more.
CLICK HERE for a complete list of Foundation
Funds.
and then Policy & Guidelines for “standard” Funds.
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Union County Foundation “Frontier Funds”
Policy & Guidelines
- The intent is to encourage the establishment of named Funds in situations where the $5,000 minimum balance is an obstacle.
- The program requires scheduled contributions resulting in structured Fund balance growth over time (a minimum balance of $5,000 within 5 years of starting the fund).
- Minimum starting balance is $500.
- At a minimum, every 6 months a structured contribution of at least $500 must be added to the Fund. The net increase to the fund’s balance is to be at least
$1,000 per year. This structured contribution schedule will result in reaching a required $5,000 minimum fund
balance within five years.
- 100% of distributions are to benefit Union Co. residents and/or organizations.
- The Fund shall receive no interest credits until it becomes a “Standard” Fund having reached a $5,000 balance.
- The Fund shall not be assessed Admin. fees until the balance reaches $5,000 during any quarterly billing cycle.
If contribution requirements are not met the Fund will: - be transferred to a similar Fund designated at the time of establishment or
- be liquidated and distributed in accordance with the Fund agreement.
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Administrative Fee Schedule
(Subject to Change)
Applicable to Funds invested by the Union County Foundation or an approved investment agent.
- Annual Administrative Fee assessed and collected quarterly:
- 1% of assets up to $500,000
- .8% of assets from $500,000 - $1,000,000
- .6% of assets from $1,000,000 - $3,000,000
- .4% of assets over $3,000,000
- All Funds are subject to a minimum annual fee of $250
- The Foundation will retain all income on Funds whose deposits are held less than 180 days
- The “market value” of a Fund is based on the quarterly Fund balance.
- All Funds are subject to charge-backs for unusual expenses such as printing costs, postage, etc.
- Minimum Fund balance is $5000.
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The Union County Foundation
Adam J. Hodnichak, Executive Director
126 N. Main Street | P.O. Box 608, Marysville, Ohio 43040 | 937.642.9618 |
info@UnionCountyFoundation.org
Hours: Monday - Friday, 9:00 a.m. to 4:30 p.m.
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