The minimum balance required to establish a charitable fund at The Community Foundation is $5,000. A new fund may begin below the minimum balance to establish a named charitable fund and may be held for a reasonable period of time in the commercial bank checking account. All interest is paid to The Foundation operating fund until the fund reaches the minimum balance requirement.

An administrative fee is charged annually by The Foundation for management of named charitable funds. Effective January 1, 1998, all charitable funds are charged 1 and ¼% annually as an administrative fee. The annual fee is earned quarterly beginning March 31, 1998.

All charitable funds with life insurance as the asset as of April 23, 1997 are charged $50.00 per year as an administrative fee.

Pass through and/or short term funds (administered for less than two years) as of April 22, 2004 are charged an annual fee of one-half percent (1/2%) or $250 minimum whichever is higher of the total assets.

There is no fee charged for disbursement of principal.

The minimum fund fee is $50.00 annually for all funds except pass through or short term funds (see above).

Also all new funds will be asked to contribute 5% of the new fund to the undesignated endowment program except temporary (pass through) funds. Changes in the designated purpose of a charitable fund or the name of a fund may be made in writing at anytime without charge.