Fees & Expenses
If you’re prepared to establish a long-term and significant commitment to charitable giving, Akron Community Foundation is your best option.
The best deal in town
First, we never charge for meetings or planning.
Second, fees are assessed only after charitable funds have been established, and then only to the fund itself, after you have received the maximum tax deduction permitted by law.
Third, unlike for-profit financial services organizations, Akron Community Foundation does not profit from our services. Therefore, we are able to offer the most personalized services at a very modest fee schedule.
Fourth, due to the size of our investment pool, we are able to negotiate discounted fees on transactions like stock sales and investment management. They are less than those of an individual investor and are deducted directly from the fund after you receive your charitable deduction for your contribution.
Standard fee schedule
We assess two fees on our funds. The first is an administrative fee that helps offset the costs of operating the fund. This fee is currently 1.25 percent (125 basis points) and is collected quarterly based on each fund's most recent average annual market value. It covers services such as grantmaking, due diligence, liability insurance, annual audit and tax filing, fund accounting, communications and gift management.
The second fee is an annual investment management fee of approximately .74 percent (74 basis points) charged by the community foundation’s various investment managers and independent financial consultants.
These fees allow us to provide our fundholders with unparalleled service and fund management. Unlike with private foundations
, you do not have to worry about administrative details or paperwork; instead, you can focus on building your fund and making impactful grants in the community.