Ocean State Charities Trust

Endowment Incubator® Program

Eligibility: Any public charity with minimum assets of $50,000 for investment and a commitment to build an endowment.
Investments: Citizens Bank serves as trustee and will manage the assets.
Structure: Each participant will own a proportionate share of a pooled fund (the Ocean State Charities Trust Endowment Incubator™ Fund) with the right to withdraw assets.
Reporting and Distribution: Quarterly reporting. Investments are retained for reinvestment to build endowment or for distribution in accordance with the policies of Ocean State Charities Trust. Withdrawals from the Fund are permitted under policies of Ocean State Charities Trust.
Account Services: The Director of the Not-for Profit Group at Citizens Bank will be the direct contact for participants regarding account questions. Citizens Bank will administer all transfers and withdrawals.
Educational Services: Participants will have access to educational events such as the seminar series sponsored by Citizens Bank that focus on planned giving, fiduciary responsibilities associated with endowment management and legacy fund-raising strategies.
Operation: Ocean State Charities Trust is responsible for the overall program, marketing and enrollment of participants; and investment oversight. Citizens Bank will invest assets, answer participant inquiries, provide educational programming, and process contributions and withdrawals upon notification by Ocean State Charities Trust.
Fees: 1% of assets