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.
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% annually.
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 this one-time fee to help cover administrative costs, fundraising expenses, donor relations, and engagement and alumni relations for the benefit of the school district.
- Gifts to endowment distribution accounts will not be assessed a reinvestment fee. Nor to temporarily restricted funds that are directly 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.