COSTS AND FUND MINIMUMS

The minimum to establish a Fund at the Solano Community Foundation is $10,000. If necessary for the donor, with prior approval of the Foundation that sum can be donated over three years.

Holders of endowed Funds may distribute up to 4% of the earnings from their Fund on an annual basis not to invade the principal. We recommend that such fundholders wait twelve quarters (three years) from the date of establishment to allow the principal to generate earnings, thus providing grantmaking capability from the gains. There is no minimum distribution requirement.

For all endowed and non-endowed Funds, there is a graduated annual fee that supports the Foundation’s operations.

The administrative fee is deducted from the income generated by the Fund on a quarterly basis and reported to you semi-annually.

On rare occasions, the Foundation serves as fiscal sponsor for particular community projects that do not have their own 501c3 tax-exempt status. These funds are usually linked to special fundraising events and efforts, and as such, result in a greater level of activity. This higher administrative load on Foundation staff includes all the reporting, accounting, and tracking of activities and finances. Such "program Funds" are charged 7% per calendar year, with a minimum of $700. They do not receive dividends and gains. Distributions from these Funds may only be made to local, qualified nonprofit organizations.

These administrative fees are consistent with those charged by other community foundations nationally and are in compliance with the National Standards set by the Council on Foundations. Our donors and fundholders can be confident that well over 90% of their charitable giving dollar goes to work at meeting the needs of the community.

The Solano Community Foundation accepts gifts of any size into our unrestricted endowment that will be used over time to make grants to the community.