Fees
The chart below explains the administrative and investment fees applicable to the various types of funds at The Rhode Island Foundation.
The administrative fees are calculated on the principal balance of each fund using a 16-quarter trailing average and are charged directly to the fund. They cover all the services provided by the Foundation’s staff and other administrative costs.
The investment fees cover the services of the Foundation’s investment managers which are selected by our investment committee and Board. Investment returns are net of investment fees.
Fund Type | | Minimum to
Create a Fund | RIF Support Fee
in percentages | Investment Fee
in percentages |
Unrestricted
Field of Interest Donor Advised Designated/Organizational Endowment | |
$10,000
$10,000 $10,000 $10,000 |
1.78%
1.78% .86% 1.00% |
.70-.90%
.70-.90% .70-.90% .70-.90% |
Deferred Gifts:
| | | | |
Charitable Gift Annuities CRTs Pooled Income Funds Supporting Organization | | $ 20,000 $125,000 $ 10,000 $1,000,000 | 1.00% .25% ------ negotiable | .70-.90% .65-.70% .65-.70% varies |
Investments
Since 1994, the Foundation has diversified asset allocation and set high performance standards for investment managers. The Foundation has increased the proportion of equities in the mix and has included emerging markets and global fixed income assets, as well as private equities in our portfolio.
Asset Allocation Chart
THE RHODE ISLAND FOUNDATION INVESTMENT MANAGERS
|
| | | |
Large Cap Core Equity |
Adage Capital Partners State Street Global Advisors |
Mid Cap Equity
Cramer, Rosenthal, McGlynn
Artisan Partners
State Street Global Advisors International Equity
Silchester International Advisors
Julius Baer Investment Management Emerging Markets
Acadian Asset Management | | Small Cap Equity
Sterling Johnston Capital Management
State Street Global Advisors Global Fixed Income
Colchester Global Investors
Convexity Capital Domestic Fixed Income
State Street Global Advisors |
Alternative Investments |
Bain Capital Management
Chisholm Fund Partners LP
Commonfund Capital
Tucker Anthony Private Venture Fund
Forester Capital
GLS Capital Management
Archipelago Partners
BayNorth Realty
Farallon Capital Management
Sankaty Advisors | | Bank of America
Charles River Ventures
The Investment Fund for Foundations
Charles Bank Realty
Point Judith Venture
B IV Capital Partners
Tudor Corp.
Denham Capital Management
Wellington Management Company
Thomas H. Lee Equity Fund
Sheridan Production Partners |
| | | |
The independent consultant provides quarterly analysis of each manager’s performance. |
| | | |
The Foundation maintains a commitment to a total return investment philosophy, including a 5.5% spending limit, to ensure the ongoing viability of funds. Any investment return earned over the spending limit is added to principal, thus combating inflation, overcoming down markets, and even growing endowments, all for the benefit of grantees.
