Fee Policy

Revised 7/2017

Purpose

The UND Alumni Association and Foundation (the “Organization”) operating budget comes from four primary sources:

  • An assessment on the market value of endowments.
  • A one-time assessment on most non-endowed incoming gifts.
  • Institutional support for activities of Organization fundraising, engagement and donor relations.
  • Interest earnings on fund balances.

Endowment Management

A per annum management fee is assessed on a quarterly basis based upon the quarter-end market value of that endowment within the investment portfolio. This rate is established by the Organizations’ Board of Directors and is currently 1.65% annually.

Development Reinvestment

A development reinvestment fee of 5% is assessed at inception on all non-endowed deposits to the Organization for most gifts, see exceptions below. The Organization assesses a one-time fee to support fund raising, donor relations, and engagement and alumni relations for the benefit of the University.

Exceptions:

  • Gifts to endowment distribution accounts will not be assessed a reinvestment fee.
  • Gifts to non-endowed scholarship funds will not be assessed a reinvestment fee.
  • Gifts from Legacy or Life Income Arrangements:
    • A 10% fee is assessed on all non-endowed distributions from estates, retirement plans, trusts, gift annuities and life insurance proceeds.
    • Any distribution designated by the donor(s) to a named endowment will be charged investment management fees of 2.5% per year for four years.
  • Gifts to Membership (Champions Club) will be assessed a 10% reinvestment fee.
  • Other deposits (for example sponsorships and event registrations) will be assessed a 10% reinvestment fee.

Pass Through Fees

  1. If a broker or property manager is engaged on behalf of the Organization, any fees charged become a cost to the appropriate fund.
  2. The Organization accepts Visa, MasterCard, Discover, and American Express. Credit card transactions are limited to $10,000. Fees from credit card vendors will be charged to each applicable Organization fund at a rate of 2.75% for all deposits received via a credit card transaction.

Exceptions to Stated Policy

Exceptions to all charges stated will be considered on a monthly basis by the Chief Development Officer and/or Chief Financial Officer. Requests for a variance should be emailed. Exceptions to fee policy will be reported at least annually to the Board Governance Committee.