Administrative Fees
The Greater Manhattan Community Foundation's Board of Directors has established the following administrative fee schedule in order to support the Foundation's general administration and programs. As a nonprofit organization, the Foundation seeks a balance between minimizing fee income and upholding responsible fiscal practices. Further information regarding use of Administrative Fees is provided in the Foundation's financial statements, available upon request. Click here to download the Fund Administration Fee Schedule.
Annual Administrative Fee for Funds of the Foundation
The Greater Manhattan Community Foundation shall assess an annual administrative fee of 1% for each fund administered by the Foundation. The fee will be assessed monthly (.0833% per month) based on the market value of the fund as of the last day of the prior month.
Applicable Funds:
The annual administrative fee will apply to all funds of the Foundation, including the following Endowed and Expendable Funds:
- Field of Interest Funds
- Agency/Designated Funds
- Donor Advised Funds
- Unrestricted Funds
- Scholarship Funds
Donor Investment Advisor Administrative Fee
Funds will also be assessed a fee by the investment advisor. This fee is in addition to the 1% Annual Administration fee described above.
Expendable or Pass-thru Fund Administrative Fee
The Greater Manhattan Community Foundation will from time-to-time accept expendable or “pass-thru” funds in order to help donors achieve their philanthropic goals. These funds which promote or support the general charitable good of the community are established as a service of the Foundation. An additional administrative fee of 1% or $10, whichever is greater, will be charged per distribution request (when distribution, or grant, checks are written from the fund) for expendable or pass-thru contributions. This fee is in addition to the 1% Annual Administration Fee described above.
The Manhattan Community Foundation reserves the right to amend this fee schedule from time-to-time. Further, the Foundation reserves the right to negotiate fees with donors in extraordinary circumstances.