Service Fees for Custom Grantmaking for Fund Holders
Is anyone facilitating a custom competitive grantmaking process for fund holders? If so, how are the fees charged to the fund holder and do you have any details about the process?
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Great question @jessicascites! Bumping this back up to the top of our recent discussions to encourage others to chime in!
Kara Adams, M.Ed., CAE (she/her/hers)|Community Manager|kara.adams@foundant.com
Headquartered: Bozeman, MT| Remote Location: Chicago, IL | Direct: 312-802-1374 |www.foundant.com|
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@jessicascites We haven't formalized a fee structure however we do offer these services to some of our fundholders. Typically this is done on a case-by-case basis and for our larger DAFs. I think our leadership is curious to test this experience for donors, see how it works, then draw up a process and fee structure once we have some experience under our belt.
I would be interested in seeing examples of others' fee structures and processes.
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@LaurelShulman Hi Laurel! Thank you for your response. We have also provided a couple of our donors with this service, so we have mapped the process and the estimated amount of time it takes to facilitate a grant cycle for a donor. We identified who would be responsible for each of the various components (marketing, application workflow steps, answering different types of questions from applicants, etc.) to set expectations, with some of the responsibility falling on the fund holder. We broke this down to the time that would be required the initial year and then in subsequent years (it would take less time in subsequent years since you can copy/edit workflows in Foundant). We then assigned an hourly rate for the tasks our foundation will be responsible for and came up with a price for the initial year and a somewhat lower price for subsequent years.
I would love to chat with you and compare notes sometime soon (after I make it out of scholarship season 😅).
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