The Huron County Community Foundation has been established, in part, to assist in grant making in Huron County. In order to achieve this goal, the Foundation must be able to meet the costs of establishing and managing the funds for its contributors. The fee structure as of 2015 is as follows:
Endowed: 1.50% up to $99,999 then 1.25% up to $249,999 then 1.00% for $250,000 and above.
The spending policy of the Foundation is in place to secure the future of the endowments as well as allow for grant and scholarship awards on an annual basis. Income available for spending is determined by a total return system. The amount to be spent in the coming year is calculated as of 12/31 and is reviewed and approved by the Foundation Board of Trustees annually. The calculation is as follows:
1. A 36 month rolling average of the market value of the assets is determined.
2. The total amount to be spent for grants, scholarships and administration will be 5% of the market value of the assets as determined in #1 above.
3. The administrative fee shall be based on the 36 month rolling average market value of the assets.
A local community fund has an endowed fund with the Huron County Community Foundation . At the fiscal year end of 12/31, the 36 month average daily balance market value of the fund is determined to be $26,500. Using the spending policy mark of 5%, $1,325 is spendable for the year ($26,500 x .05). Of this $1,325, $927.50 is spendable by the community fund and $397.50 is spendable on administrative fees.* Actual return value fluctuates with the stock market.