FEES AND REPORTING. The Foundation shall collect a fee for the reasonable and proper compensation of services and expenses. The fee is determined by the Board of the Foundation, and is currently 100 basis points (one percent) up to $250,000, 75 basis points (3/4 of one percent) for funds between $250,000 and $999,999, 0.60% for funds between $1,000,000 and $2,499,999, 0.50% for funds between $2,500,000 and $4,999,999, 0.40% for funds between $5,000,000 and $24,999,999, or market % for funds $25,000,000 and above to cover administrative, investment and accounting expenses. The Foundation shall render a quarterly accounting of the funds in this account.
Appears in 2 contracts
Sources: Endowed Fund Agreement, Quasi Endowment Fund Agreement