Financial and Grant ManagementGive2Asia maintains accounts for donations, sends donors acknowledgements and a receipt for tax reporting purposes, and manages the investment of fund assets. Moore directs how funds are invested, just as one would do with any other investment account. Give2Asia charges a typical asset management fee (1% up to the first $100,000). The nature of donor-advised funds forbids a distribution of a grant that would result in private benefit to a donor or other individual. Grants are made only to nonprofit organizations that pass a stringent due diligence review. Consequently, no administrative expenses—for example, to run this website—are taken from the Fund. Gwen Moore pays all administrative costs so that all donor contributions support programming. Moore decides on all grants to be made. Give2Asia charges a grant management fee of 7%. The fee covers all aspects of grant management, including getting proposals, translating documents, negotiating the project, transferring funds, monitoring projects, and reporting on the completion of the funded activity and its impact. Three-Year Financial Overview
"While I may have launched the Gwen Moore Children of China Fund, I believe that it has its own calling. It has its own pace. It has its own life. Today, yes, it is my heart's work. And when I die, it will be my legacy. But in some mysterious way, it is not mine. It is the children's. I am simply their vessel, their steward."
~Gwen Moore, from talk at the Harvard Club, Boston, June 2006 |
1 Moore makes a contribution to the Fund each year equal to these fees.