Once a local nonprofit organization has identified they have investible assets, that organization may partner with the Mankato Area Foundation (MAF) by establishing an agency fund for placement of those investments. Through this partnership, the Foundation pools and invests the organizations assets with those of the Foundations, thereby providing responsible and professional management. Based on their immediate and long-term needs, the nonprofit organization may choose whether or not to endow the funds in order to preserve the principal of the endowment. Distributions from the fund are granted back to the agency to be used at the discretion of its governing board.
Agency Funds at the Community Foundation
As a nonprofit organization in the Greater Mankato area, we understand the importance of local partnerships. A partnership with the Foundation is more than just financial investment management; it's about strengthening nonprofit organizations. This partnership helps nonprofit groups become more successful in accomplishing their missions by enhancing the capacity of their staff and volunteers.
The Mankato Area Foundation is committed to maintaining the highest fiduciary standards and providing easy access to information about your fund. This includes investment management by our experienced Investment Committee as well as the expertise of CommunityGiving (current pooled funds manager) and their investment consultant, IPEX.
Advantages of establishing an agency fund
- Enables board members and volunteers to focus on the mission of your organization while the Community Foundation handles investment of your organization’s assets
- Diminishes the need for additional volunteers and an investment committee to oversee the financial management of your investments
- Promotes donor confidence by ensuring assets are segregated in a fund overseen by a team of professionals who are regularly monitoring your fund
- Builds assets to ensure a stable future by taking advantage of the expertise of several organizations
- The ability to combine funds into professionally managed portfolios allows greater diversification of investments and access to investment vehicles that would not be possible for individual funds
- Adds visibility to your fund as part of the Community Foundation family, which can help in marketing and fundraising
Who manages the fund?
- Agency assets are invested in MAF’s portfolios and managed by CommunityGiving with oversight from the investment committees of both organizations.
- CommunityGiving has retained IPEX, an independent investment consulting firm, free of any conflicts of interest.
Who can give to an agency fund?
An agency fund can be established for minimum of $25,000. Once a nonprofit organization creates an agency fund, the agency and its donors can contribute to it at any time.
The Foundation’s is about more than transactions; we are about transformation. While fees collected for funds held at Mankato Area Foundation support the processing of grant checks, accepting and acknowledging donations, completing annual audits and reporting; our fees also make you part of the change we enable in the communities we serve. It's the community convenings, the strategic grantmaking, the donor-connections, the facilitated dialogues, the nonprofit partnerships and the promotion of charitable giving that ultimately transforms the communities we call home. Thank you for joining us to improve quality of life in your community. We're simply better together.
Click here to view the Mankato Area Foundation’s administrative fee schedule.