As a not-for -profit organization, the fees charged by the Jewish Community Foundation of Calgary are only designed to recover our actual costs. We do not build any profit into our administrative services. We simply charge you what it costs to operate the Foundation.
As a result, having a fund with the JCFC is considerably less expensive than holding a fund with most commercial managers, or starting your own private foundation. The large size of our pooled assets base allows us to obtain competitive fees from our investment managers. We also handle all the daily administration for you, processing grants and issue cheques and receipts.
We recover our costs in two areas:
1. Investment services. These include the fees charged to us by our investment mangers and investment custodian. For the fiscal year ending June 2017 investment counsel expense was .75% of average assets. Returns are reported net of fees: all investment fees are paid out before the income available for distribution is calculated.
2. Administrative and operating expenses are recovered from our funds in accordance with our Administration Fee Policy. All investors pay a proportionate share of the total costs.
Funds can be opened with a minimum donation of $1000 ($100 for Funds opened under the auspices of the Len and Faigel Shapiro B’nai Mitzvah program). Income generated by funds is available for distribution when fund reaches $5,000 ($1,000 for the B’nai Mitzvah program).
Fee structure and fund minimums are subject to ongoing review and change by the Board of Directors of the Jewish Community Foundation of Calgary.