Space Frontier Foundation Finder’s Fee Policy
Confidential - For internal use only!

Policy Objective:

Encourage all Space Frontier Foundation Advocates to raise money for the Foundation, and to find new sources of money while maintaining existing contacts.

 

Eligibility:

 

All Foundation Advocates are eligible for finder’s fees.

In addition, the Executive Director may apply this policy to any other person and if choosing to do so must sign an agreement and inform the Board.

 

Applicability:

 

The guidelines that follow are intended to cover standard fundraising situations. In cases that are not covered by these guidelines or where the guidelines are unclear, the Executive Director will be responsible for resolving issues on a case-by-case basis. The Executive Director's decision may be appealed to the Board of Directors, whose decision will be final.

This Finder's Fee policy applies to contributions received on or after Sept. 1, 2005.

 

Donations Qualifying for Finder’s Fees:

A donation is a gift of money (not materials or time) given to the Foundation either for general purposes or for a specific project. For grants and contracts, the finder may incorporate a fee for him/herself into the proposal as project manager or some other paid position if deemed appropriate by the Executive Director.

Donations must be $500 or more to qualify for a finder’s fee.

 

Transparency:

 

Finder’s fee can only be paid if the donor has been made aware of the policy.

If the donor prohibits or limits finder’s fees, the wishes of the donor will be honored.

Fee Maximums:

15% of new donations, 10% of recurring donations where new versus recurring is defined by:

- New: donation from an individual or organization that has not previously contributed to the Foundation; or an increase (of at least 10%) over the largest amount that an individual or organization ever donated

- Recurring: a donation by an individual or organization of lesser or equal amount than the amount of their largest donation.

 

Variations in Percentage:

The "Finder" can at any point in time decide to accept any percentage less than what is specified above. It is up to the Finder to ensure his/her percentage is acceptable to the individual or organization making the donation and with the Foundation’s project manager if the donation is for a specific Foundation project. The Foundation’s Chairman or their designee will resolve any disagreements between the project manager and the Finder on the Finder’s percentage.

 

Finder Identification:

 

In order to avoid multiple Advocates approaching one individual or organization for a donation, an Advocate must register with and obtain approval from the Executive Director before soliciting donations. Failure to do so will make the finder ineligible for any finder’s fees. The Executive Director may establish guidelines and time limits for attempts to solicit funds, and may deny or revoke an Advocate's "claim" on a potential donor if they feel it warranted. Such a decision may be appealed to the Board of Directors, whose decision will be final.

 

Payment Mechanics:

The total donation is paid to the Foundation. The Foundation’s treasurer will in turn pay the Finder his/her percentage upon agreement of the project manager (if applicable) and the Executive Director. The finder’s fee percentage is based on the entire amount donated. The Foundation's Overhead and Administration rate is applied to those funds remaining after the finder's fee has been deducted.

 

Examples:

Example 1:

New donor; Year 1 donation $1,000; Year 2 Donation $1200.

Finders Fee:

Year 1: $150 (15% of new $1,000)

Year 2: $130 (10% of recurring $1000 + 15% of new $200)


Example 2:

New Donor, Year 1 $2000, Year 2 $0, Year 3 $450, Year 4 $1200

Finder's fee:

Year 1: $300 (15% of new $2,000)

Year 2: 0 (donation did not meet $500 minimum)

Year 3: 0 (donation did not meet $500 minimum)

Year 4: $120 (10% of recurring $1200)