SERVICES FOR SCHOLARSHIP FUNDS
- Advice on establishment and structure of scholarship fund
- Distribution of applications to schools and students
- The services of a selection committee
- Congratulatory letters sent to all award recipients
- Letters of regret sent to all applicants who did not receive awards
- Press release upon request
- Disbursement of awards
- An opportunity to meet your scholarship recipient at the Foundation
- Quarterly or annual financial statements for each fund – Includes list of donations, investment activity, and an itemized list of disbursements
- Letters of appreciation and acknowledgement of gifts made to the fund, receipts meeting new IRS regulations
- Independent audit of all financial transactions
- Professional investment management
The Humboldt Area Foundation (HAF) manages $55 million in assets and currently pools investments for over 600 funds. Investing on a pooled basis produces significant economies of scale, including: (a) enhanced diversification of assets across investment styles and money managers; (b) enhanced access to money managers that might otherwise be unavailable due to account size minimums; and (c) reduced costs due to the application of size-sensitive fee schedules to an expanded asset base. Fiscal oversight of investments is provided by the HAF Investment Committee and Board of Directors in alignment with California Prudent Investor Rules. Angeles Investment Advisors, Inc. provides an in-depth third party review of HAF’s investment strategy each year with results available to the public on the HAF website at www.hafoundation.org
The Humboldt Area Foundation also offers non-risk fixed income investments for short-term expendable funds. These returns vary in alignment with prime rate fluctuations.
This asset allocation has produced the following total net returns.
All returns are reported net of investment fees as of June 30, the last
day of HAF’s fiscal year.
The annual rate of support for Foundation services is two percent (2%) of the principal balance, a portion of which is taken from the income generated by your fund each quarter. There is a minimum fee of $200 per year for expendable funds.