Financial Information

Here, you'll find important financial information about Adirondack Foundation. If you have any questions, or if you wish to review information from prior fiscal years, please don't hesitate to contact us at (518) 523-9904 or beth@adkfoundation.org.

Financial Documents

Supporting Fees

There are costs associated with administering a fund at Adirondack Foundation. These costs include the bookkeeping and auditing of each fund as well as staff time devoted to investment oversight, grantmaking, acknowledging contributions, and exercising the required due diligence over grants made from funds to nonprofits or scholarship recipients. Adirondack Foundation charges administrative fees to help pay for these professional services.

With support from these administrative fees, Adirondack Foundation can respond to community needs, convene organizations around important issues, track community trends around the region and serve as a conduit to bring resources into the Adirondacks. In this sense, fees are more than simple charges for the delivery of professional services associated with funds; they are an important contribution to the community itself.

Supporting fees are calculated and assessed quarterly as a percentage of the average daily value of each fund and vary according to the fund type (see fee schedule below). There is a minimum annual fee of $375.

To review our supporting fees, please click here.

National Standards

In 2007 and 2013, the Council on Foundations determined that our organization is in full compliance with the National Standards for U.S. Community Foundations. This accomplishment provides assurance to the public that we maintain the highest of standards in the administration of our organization.

Sarbanes-Oxley

Since 2007, Adirondack Foundation has voluntarily complied with key provisions included in the Sarbanes-Oxley Act of 2002 (financial practice and governance regulations for  public companies) including employee gift acceptance, code of ethics, insider transactions and conflict of interest, whistle-blower protection, and document destruction and retention.