Lake Area Foundation Fee Schedule

Trustee Bank Fees:
Lake Area Foundation's trustee banks assess an administrative fee for investment management and administration expenses. This fee can be taken monthly or quarterly. Lake Area Foundation, as a charitable, not-for-profit entity, receives a reduced fee schedule, set at 25 basis points for each trustee bank. Fees are based on the market value of the entire pooled fund at each bank.


Lake Area Foundation Administrative Fees:
As a vehicle through which individuals, companies and organizations can fulfill their charitable giving wishes, the Foundation provides a variety of services related to the administration of charitable funds. Lake Area Foundation, through the Lake Cumberland Area Development District, is committed to providing staffing for its activities in order to ensure that current funds are administered effectively. The Foundation is also committed to undertake efforts to build the Foundation's assets so that the Lake Cumberland region will have resources to support the area's changing charitable needs and endeavors. The Lake Area Foundation strives to keep administrative expenses to a minimum by utilizing existing LCADD staff support, volunteers, in-kind gifts and discounted services. The Pat Bell Administrative Fund was established by the Lake Area Foundation to help defray the cost of doing business. It is necessary to assess each fund a small amount to cover remaining expenses. This fee has been set at .25% annual fee for administrative purposes. A portion of this fee will be assessed monthly and will be based upon the ending balance of the trailing month. New funds will not be assessed during the fiscal year in which they were established. The Lake Area Foundation operates on a July-June fiscal year.

Meetings

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