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 $250.