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    Purpose

    The Grand Forks Foundation for Education operating budget comes from three primary sources:

    • Unrestricted giving.
    • An assessment on the market value of endowments.
    • A one-time assessment on most non-endowed incoming gifts.

     

    Endowment Management

    A per annum management fee is assessed on a quarterly basis based upon the quarter-end market value of that endowment within the investment portfolio. This rate is established by the Foundation’s Board of Directors and is currently 2.0% annually.

     

    Non-endowed Gifts

    A development reinvestment fee of 5% is assessed at inception on all non-endowed deposits to the Foundation for most gifts, see exceptions below. The Foundation assesses a one-time fee to help cover administrative costs, fundraising expenses, donor relations, and engagement and alumni relations for the benefit of the school district.

     

    Exceptions:

    • Gifts to endowment distribution accounts will not be assessed a reinvestment fee. Nor to temporarily restricted funds that are associated with an endowment.
    • Gifts to non-endowed scholarship funds will not be assessed a reinvestment fee.
    • Grant awards will not be assessed a reinvestment fee.