How many funds does the foundation have under management?
How often are reports furnished?
Do you manage money for individuals?
How often are income distributions made from irrevocable trusts?
Who provides the financial support to operate the foundation?
What rate of return can be expected from investments?
Is there a charge for the services of the foundation?
What tax reporting is provided by the foundation?
How many funds does the Foundation have under management?
We have approximately 950 funds, valued at approximately $90 million.
How often are reports furnished?
Reports may be generated monthly, quarterly, semi-annually or annually.
Do you manage money for individuals?
The foundation manages money for Baptist causes. We encourage individuals to establish an irrevocable trust in which a Baptist cause of their choosing becomes a beneficiary.
How often are income distributions made from irrevocable trusts?
Income checks may be generated monthly, quarterly, semi-annually or as directed by the document.
Who provides the financial support to operate the foundation?
Four percent of the operating budget of the foundation is funded by an allocation from the Cooperative Program of the Baptist General Association of Virginia. Other sources of financial support are allocations from bequests and management fees.
What rate of return can be expected from investments?
The rate of return will vary. The foundation investment philosophy is to invest to earn a reasonable rate of return at an acceptable level of risk. All investments are socially sensitive. No investment will be knowingly made in the alcohol industry, tobacco industry, companies dealing in pornographic materials, companies which practice any form of racial discrimination, companies which offer or promote any form of gambling or any company whose products, services or activities are publicly recognizable as being incompatible with the moral and ethical posture of the foundation.
Is there a charge for the services of the foundation?
The foundation charges an Administrative Cost Recovery Fee (ACR) of 80 basis points (eight tenths of one percent) on the first million dollars of an investment. The ACR is reduced incrementally for amounts over one million dollars. There are no charges for consultations.
What tax reporting is provided by the foundation?
All required tax reporting is done as required by the Internal Revenue Service. How does the foundation provide for the safekeeping of legal documents for wills and trusts?