Administrative Service Charge

For more information call:

330-454-3426

Stark Community Foundation

ADMINISTRATIVE FEE SCHEDULE

Revised and Adopted by The Distribution Committee on
November 22, 1995
Revised February 28, 1997
Revised March 6, 2006

I. All Trusts and Funds except for Designated, Agency Endowments and Scholarships:

An annual rate, assessed quarterly, on market value at the end of the quarter:

SCF, Inc. SCF (Trusts)

Assets less than $10,000 $100 $100

Assets $10,001 to $250,000 1% (.01) 1/2% (.005)

Assets $250,001 to $1,000,000 3/4% (.0075) 3/8% (.00375)

Assets above $1,000,000 1/2% (.005) 1/4% (.0025)

II. Trusts (except Scholarships) and Funds Which are Designated or Agency Endowments:

An annual rate, assessed quarterly, on market value at the end of the quarter:

SCF, Inc. SCF (Trusts)

Assets less than $10,000 $100 $100

Assets above $10,000 1/2% (.005) 1/4% (.0025)

III. Scholarship Funds

Administrative charges for scholarship funds are based on SCF staff time used to assist the Selection Committee defined on Attachment A, Definitions of Level of Service plus $20.00 per scholarship award. When a new scholarship fund is formed the Selection Committee will reach an agreement with SCF regarding the Level of Service. If after a period of time the Selection Committee feels that it requires a different level of service, they should discuss their needs with the SCF Program Officer for Scholarships before their next scholarship cycle begins.

Level of Service Administrative Charge

Independent 1.25%

Annual 1.50%

Annual Plus 1.75%

Stark Community Foundation
SCHOLARSHIP FUND SERVICE LEVELS
Board Adopted 3/6/06

Each Scholarship Fund established at Stark Community Foundation is assessed an administrative fee to cover the expenses of administering the fund. Each fund is also allocated its proportionate share of investment management and custodial fee as assessed by outside investment managers and trustee banks.

The administrative fee for each scholarship fund is based on the level of service the Foundation's staff will provide for the fund. Each permanent Scholarship Fund (minimum $25,000) is expected to fully cover the cost of its operation.

INDEPENDENT - 1.25% per annum plus $20.00 per scholarship awarded

SCF Scholarship Program Officer serves as a liaison to Scholarship Funds that operate with an independent Scholarship Selection Committee. The following services are provided for Independent scholarship funds:

Manage investment of fund.
Provide investment reports or trust account reports as requested.
Provide report of fund ‘amount available for distribution' according to spending policy by March 31^st.
Receive and acknowledge contributions documenting tax deduction.
Assist in developing scholarship criteria and application form.
Retain selection committee award meeting minutes in SCF files.
Administer all scholarship awards, and decline letters to applicants.
Monitor and process scholarship payments to appropriate college or university. Contact student and sometimes university to verify enrollment.
Notify donor and scholarship committee of scholarship and/or loan payment process. (cc: to advisor on award letters).
Publicize scholarship through Foundation website and Scholarship Reference Guide distributed to all area high school guidance offices.

ANNUAL - 1.50% per annum plus $20.00 per scholarship awarded

Services included for these funds are listed above in the Independent category. Additionally, Stark Community Foundation's Program Officer convenes the scholarship committee, prepares an agenda, distributes application packets, and records minutes.

ANNUAL PLUS - 1.75% per annum plus $20.00 per scholarship awarded

Services included for these scholarship funds include all of those listed for the Independent and Annual scholarship funds, plus one or more of the following:

Prepare additional requests for publicity as requested by donor and/or selection committee.
More frequent than annual distribution of awards to students.
Requires special recognition events including specific details: medallions, certificates, refreshments, special location, etc.
Specific recruitment meetings with College and University personnel for specialized fund requirements necessary to meet the donor's philanthropic goals.
Sub-funds created as additions to regular scholarship funds requiring additional work.
Requires relationships with bank personnel (correspondence and/or meetings).
Provide technical support for fundraising by committee.

What makes Stark Community Foundation unique?