Benefits and Fees 2020-01-23T10:50:17+00:00

Benefits

Giving through the Community Foundation offers donors:

  • Flexibility: Donors may create funds in any name & for any charitable purpose.
  • Immediate Tax Deductions : As a 501(c) (3), the Foundation helps save on income and estate taxes and helps reduce/eliminate capital gains tax.
  • Connectivity: Donors stay connected to their gift, their family and their favorite charities.
  • Personalized Service: Knowledgeable, professional staff provide prompt attention to donor needs.
  • Community Information: The Foundation is a resource for donors about local nonprofit organizations and community needs.
  • Investment Expertise: Experienced board and committee members, and financial advisors oversee investments and relieve donors of that burden.
  • Low Cost: Combining individual funds, keeps administrative and investment costs low.
  • Reliability: The Foundation has a record of reliability and dependability.
  • Simplicity: A fund is established with one governing document that takes less than one hour to prepare.
  • Recognition: Donors can honor or memorialize a loved one in perpetuity.
  • Privacy: Donors can give anonymously through the Foundation.
  • Legacy: Donors can build lasting testaments to their names, their families and causes they care about.

 

Fees

The following information is intended to help you better understand the charges imposed by the Community Foundation of North Central Florida for monies entrusted to the Foundation in support of your philanthropic objectives. These charges are necessary to allow the Foundation to continue its mission in the community at large and provide services to those donors who value the existence of the CFNCF.  The CFNCF charges every fund an annual administrative fee as follows, with charges assessed on a monthly basis.

Minimum amount suggested to open a Fund $10,000.00
Minimum annual administrative charge $500.00
Any out-of-pocket expenses incurred on behalf of a fund (i.e. outside legal fees) will be charged directly to the fund.

 

 

The CFNCF charges every fund an annual administrative fee as follows, with charges assessed quarterly as follows:

 

 

Endowed Funds Administrative Fees
$10,000 minimum initial investment

$500 minimum annual administrative fee

1.5% on the first $500,000

1.0% on amounts $500,001 to $4,000,000

0.85% on amounts $4,000,001 to $5,000,000

0.75% on amounts $5,000,001 and above

Non-Endowed Funds
$10,000 minimum initial investment

$500 minimum annual administrative fee

2.0%
Nonprofit (Agency) Funds
$10,000 minimum initial investment

$500 minimum annual administrative fee

2.0% on the first $100,000

1.5% on amounts $100,001 to $500,000

1.0% on amounts $500,001 to $1,000,000

0.75% on amounts $1,000,001 and above

Scholarship Funds
$10,000 minimum initial investment

$500 minimum annual administrative fee

3.0% on the first $500,000

2.0% on $500,001 and above

Pass-Through Funds
2.0% administrative fee on gifts.  No minimum annual fee applies.
Acorn Funds
No administrative fees or distributions until the fund is fully established.  The Community Foundation Endowment Fund will retain the earnings until the minimum is met.

 

Annual Investment Management Fees are .25% for funds under management of the Foundation’s Investment Counsel. Outside Investment Managers are permitted for funds with a minimum of $250,000.

 

Other fees and fee structures may apply under special circumstances.  For more information, contact

352-367-0060 or office@cfncf.org.