Our Fees

We are committed to maximizing our donors’ investments so their funds can issue as many grants as possible every year to benefit our community.

Administrative Fees:

While there are no fees involved in setting up a charitable fund at our foundation, there are some small fees associated with its ongoing administration.

  • Our administrative fees help cover the costs of bookkeeping and auditing associated with your fund, as well as the staff time devoted to investment oversight, grant making, acknowledging contributions and exercising the required due diligence over recipients of grants or scholarships.
  • These fees, together with direct gifts we sometimes receive to cover our overhead costs, enable us to serve our donors and nonprofit partners efficiently and cost effectively. In a sense, they are more than simple charges for the delivery of professional services – they are important contributions to the community in and of themselves.
  • We charge an annual administrative fee of 1.25 percent of a fund’s value for all charitable funds (1 percent for Agency Endowments).

Investment Fees:

Brown Brothers Harriman main portfolio:  1.07% (107 basis points) which are netted out of investment results before fund balances are reported to donors.

The fee for BBH Investment Advisory and custody services is based on the fair value of the Foundation's Account Assets, including accrued interest, on the date of the appraisal of the Account. The Investment Advisory Fee applies to, among other assets, Client Directed Assets. Certain cash held in the Account, investments in BBH Funds, BBH alternative investments and Private Assets will not be included in the calculation of the Investment Advisory Fee but may be subject to other fees.

The Investment Advisory Fees are computed as follows:
1.00% per annum on the first $5,000,000
0.75% per annum on the next $5,000,000
0.60% per annum on the next $15,000,000
0.50% per annum on the balance   

Strategic Advisory (SA) funds are subject to a flat 0.40% per annum fee, and there is a $5,000 fee for BBH socially responsible investment (SRI) administration & reporting.

The estimated fees charged to the Community Foundation are best illustrated as follows:
BBH Direct Management Fees (IA, SA, SRI):  0.37%
BBH Fund Level Expenses: 0.18%
Third Party Fund Level Expenses:  0.47%
Fund Admin Fees: 0.05%
Total: 1.07%


Walden Asset Management SRI portfolio:  Investment management and custody fees of .79% (79 basis points) include an investment management fee for separately managed assets and indirect compensation received by BTIM Inc., a subsidiary of Boston Trust which advises proprietary mutual funds held in the account. 

The separately managed asset fee is based on the prior calendar quarter’s ending market value, including accruals, and may be adjusted to reflect significant cash flows during the quarter.   Proprietary fund fees (the mutual fund expense ratio) are charged to applicable funds as detailed in the funds’ prospectus and SAI. To prevent duplicative fees on assets proprietary fund holdings within the account are excluded from the separately managed asset market value.

Walden Asset Management investment management and custody fees for the Community Foundation of Eastern Connecticut are estimated to be 0.79% annualized. The Community Foundation of Eastern Connecticut’s fees are computed as follows:

Separately Managed Assets:
0.75% per annum on the first $10,000,000
0.60% per annum on the next $15,000,000
0.45% per annum on the balance

Proprietary Fund Assets:
1.15% on Walden International Equity Fund
1.00% on Walden SMID Cap Fund

The current estimated fees charged to the Community Foundation are illustrated as follows:
Walden Separately Managed Asset Fee: 0.75%
Walden SMID Cap Fund: (WASMX): 1.00%
Walden International Equity Fund (WIEFX): 1.15%
Total: 0.79%


Read more about Our Financial Accountability

Contact

P: 860.442.3572
P: 1.877.442.3572 (toll free)
F: 860.442.0584 (fax)
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Location

68 Federal Street
New London, CT 06320
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