MaineCF Administrative Fees
There are costs associated with administering a fund at the Maine Community Foundation. These costs include the bookkeeping and auditing of each fund as well as staff time devoted to investment oversight, making grants, acknowledging contributions, and exercising the required due diligence over grants made from funds to nonprofits or scholarship recipients. MaineCF charges administrative fees to help pay for these professional services.
With support from these administrative fees, the foundation can respond to community needs, convene organizations around important issues, track community trends around the state and serve as a conduit to bring resources into Maine. In this sense, fees are more than simple charges for the delivery of professional services associated with funds; they are an important contribution to the community itself.
New funds are assessed a one-time set-up fee of $250. Unless otherwise noted, fees are based on the principal balance calculated each quarter.
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The current MaineCF fee schedule:
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Fees as % of Asset Value (In Thousands)
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| Fund or Gift Type |
Less than $1,000 |
$1,000 - $2,999 |
$3,000 - $4,999 |
$5,000 - $7,499 |
$7,500 $9,999 |
Over $10,000 |
| Donor-Advised (Endowed) |
1.10% |
0.90% |
0.25% |
0.25% |
0.25% |
0.20% |
Donor-Advised
(Not Endowed) |
1.25% |
1.10% |
0.25% |
0.25% |
0.25% |
0.20% |
Premium Service 1
Donor-Advised - Endowed |
1.10% |
0.90% |
0.60% |
0.50% |
0.45% |
0.20% |
Premium Service 1
Donor-Advised -
Not Endowed |
1.25% |
1.10% |
0.75% |
0.60% |
0.45% |
0.20% |
| Field of Interest |
1.50% |
1.30% |
1.00% |
0.75% |
0.75% |
0.75% |
Organizational
Endowment 2, 3
|
0.85% |
0.75% |
0.25% |
0.25% |
0.25% |
0.20% |
| Scholarship3 |
1.50% |
1.30% |
1.00% |
0.75% |
0.75% |
0.75% |
| Designated |
0.85% |
0.75% |
0.25% |
0.25% |
0.25% |
0.20% |
Annual Minimum Fee of $200.00
1Please contact MaineCF staff for more information about premium services available for Charter Funds.
2In compliance with the State of Maine Uniform Management of Institutional Funds Act (UMIFA), MaineCF invests its assets for total return and calculates an annual grant budget for each endowed fund based upon a percentage of the average principal fund balance over the previous 12 quarters. For funds that are by their terms restricted to spend proceeds only, a lower annual distribution may be required during periods of prolonged investment downturns to avoid invading the historic gift value of the principal of the fund.
3 Scholarship and organizational endowment funds may establish sub-funds, which are assessed a fee of .85% and are not subject to an annual minimum.
Adopted by MaineCF Board of Directors on 1/19/07
Download
MaineCF Administrative Fees in pdf format.