Scholarship Fund Management Questions
I am trying to gauge what other community foundations are doing to manage their scholarship funds.
- What is your minimum amount to start a fund? Ours is $50k currently but we want to make sure that the awards from the endowment (usually 4%) are large enough to be worth it to students, so we are looking to raise this minimum. Is that too much?
- What are your management fees you charge the donor? Ours are currently 1.5%. Do you do a sliding scale?
- Do you have a "general" fund managed by your CF? How does that work and how is it funded? We are looking to start one, which would include sweeping up some little-awarded scholarships into it.