Financial Information

Availability of Financial Information

You may request a copy of the Fremont Area Community Foundation's most recent IRS form 990 by contacting the Foundation office at 1005 East 23rd Street, Suite 2, Fremont, Nebraska 68025, (402) 721-4252. The Form 990 is also available online at www.guidestar.org.

The Fremont Area Community Foundation does not have any unrelated business income, however, if the Foundation does acquire any unrelated business income, the Foundation will file a 990-T form with the IRS. That form will also be available to the public by contacting the Foundation office at 1005 East 23rd Street, Suite 2, Fremont, Nebraska 68025, (402) 721-4252.

You may also request a copy of the Fremont Area Community Foundation's most recent audit by contacting the Foundation's office.

Information about the Foundation's investments, including the names of investment managers, fees charged, and list of members of the Foundation's Investment Committee is also available upon request from the Foundation's office.

Administrative Fee Schedule

Fund Costs: Administrative fees are intended to recoup the costs of serving our component funds. These costs include bank transactions and fees, postage, gift receipting, disbursements, annual audit, financial reporting, IRS reports/returns and general overhead costs.

The Foundation administers Donor Advised funds, Non-Endowed Invested Funds, and Endowed Funds, Agency Funds, Designated Funds, Scholarship Funds, and Unrestricted Funds.

  • Fee Schedule for Non-Endowed Invested Funds (all types of funds that are non-endowed invested, excluding scholarship funds):

    Fee Schedule for Non-Endowed Invested Funds (all types of funds that are non-endowed invested, excluding scholarship funds): The Foundation charges an annual administrative fee of 1.25% on the fund balance of non-endowed invested funds. Non-endowed invested funds are invested in instruments such as, stocks, bonds, or cash. The investments are guided by the FACF Investment Policy. The Foundation deducts .3125% each quarter from the fund. In addition, the fund is responsible to pay any additional investment fees charged by the investment manager. There is no restriction on the amount able to be spent from this kind of fund.

  • Annual Fee Schedule for Long-Term Permanently Endowed Investments (all endowment funds, excluding scholarship funds):

    The Foundation charges an annual administrative fee of 1.25% on the fund balance of endowed funds. Endowed funds are invested in instruments such as, stocks, bonds, or cash. The investments are guided by the Foundation's Investment Policy. The Foundation deducts .3125% each quarter from the fund for the 1.25% administrative fee. In addition, the fund is responsible to pay any additional investment fees charged by the investment manager. The spendable amount is set annually by the Board of Directors.

  • Annual Fee Schedule for Pass-Through Funds (all pass-through funds, excluding scholarship and fiscal sponsorship funds):

    The Foundation charges an annual administrative fee of 1.25% on the fund balance of pass-through funds. Pass-Through funds are invested in money markets. The investments are guided by the Foundation's Investment Policy. The Foundation deducts .3125% each quarter from the fund. In addition, the fund is responsible to pay any additional investment fees charged by the investment manager. There is no restriction on the amount able to be spent from this kind of fund.

  • Scholarships and Fiscal Sponsorship Funds:

    The Foundation charges an annual administrative fee of 2% on the fund balance for scholarship and fiscal sponsorship funds. The investments are guided by the Foundation's Investment Policy. The Foundation deducts .50% each quarter from the fund. In addition, the fund is responsible to pay any additional investment fees charged by the investment manager. The amount available to spend from these types of funds depends on how they are invested. Endowed funds are restricted to the annual spending rate while non-endowed invested and pass-through funds have no restrictions on the amount that can spent from the fund.

Donor Investment Alternatives

Although the Fremont Area Community Foundation prefers to manage long-term investments according to a defined asset allocation model, the Foundation does allow donors to recommend alternative investment managers for gifts of $100,000 or greater, assuming the absence of material restriction.* All such recommendations are subject to approval by the Foundation's Board of Directors.

* A material restriction is a restriction or condition that prevents a community foundation from “freely and effectively employing the transferred assets, or the income derived there from, in the furtherance of its exempt purposes.”