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Union County Foundation Funds
 
 
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.
 
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:
  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.
 
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.
 
 
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.
Council on Foundations National Standards
 
Copyright © 2022 The Union County Foundation