The Washington State University Foundation imposes small assessments on certain forms of gifts and on our endowment. The purposes of these assessments vary and assessments are not charged on all types of gifts. Some assessments are charged to recoup specific charges by third party vendors per contract(s) for various services. Others are designed to recoup expenses incurred by the WSU Foundation during the ordinary course of business. Assessments are also imposed to create the revenue stream to cover a portion of WSU Foundation operating expenses.
Assessments are subject to change without notice. If you have questions about the WSU Foundation’s assessment structure, please call 800-448-2978.
ADVANCEMENT ASSESSMENT: Annually, a 1.5% Advancement Assessment is charged to the WSU Foundation Endowment. This assessment is paid out quarterly and is calculated based on the 36-month rolling average of the Endowment’s market value.
MANAGEMENT ASSESSMENT: There are other costs associated with the Endowment such as investment management assessments, custodial costs, and consulting expenses. The WSU Foundation contracts with Mercer LLC for investment consultant services. Note: All performance figures of the WSU Foundation Endowment are net of expenses.
MANAGEMENT & ADMINISTRATIVE ASSESSMENTS: The WSU Foundation contracts with Kaspick & Company for asset management and administration of its planned gift assets. These planned gift assets include Charitable Gift Annuities, Charitable Remainder Trusts, Charitable Lead Trusts, and Donor Advised Funds. The assessments for WSU Foundation and Kaspick & Company’s service are charged to the appropriate trust or annuity pool directly. Assessments for Donor Advised Funds (DAFs) are negotiable. Assessments are charged against the gift annuity pool or trust/DAF principal, respectively. Kaspick & Company invests in mutual funds, and the mutual fund expense ratios are a separate assessment charged to the gift annuity pool or trust/DAF principal.
CLOSING ASSESSMENT: A one-time 3% assessment is taken from each estate distribution, distributions from life insurance, and retirement plans, as well as bank and brokerage or other accounts with financial organizations. This assessment also applies at the termination of Charitable Remainder Trusts and Gift Annuities whether terminated voluntarily by the income beneficiary, per trust language, or at the death of the last income beneficiary.