When GCCT was established as a partnership between the Arts & Science Council and Foundation For The Carolinas in 2002, it served a unique purpose. It was meant to steward the endowment funds raised through ASC’s 1993 Endowment Campaign. Initially, GCCT focused on administrative and fundraising support for a specific group of 20 fundholders, with an Executive Director who also led planned giving efforts for these institutions.

Over time, GCCT's structure and purpose has evolved. The mission now focuses exclusively on investment oversight, with no grantmaking. In addition, the GCCT recently closed its sole differentiated investment strategy — the Bank Long-Term Growth pool— so the GCCT investment options are now fully aligned with FFTC.

With the completion of all campaign-related allocations, the elimination of the GCCT’s distinct investment strategy and the legacy ASC’s dissolution and rebirth as a supporting organization of FFTC, the GCCT’s investment and administrative services now fully mirror those already provided by FFTC to its nonprofit fundholders – rendering the GCCT duplicative.

Fund management, advisory privileges and investment oversight will continue seamlessly under FFTC’s umbrella. 

• All funds will remain intact (including principal, income, spendable and purpose).
• All funds will remain in the same investment strategy under FFTC.
• There will be no change to current fund access or advisory privileges.
• Your relationship manager will remain the same.

There will be minor changes to the spendable schedule and calculation, aligning with FFTC’s policies.  

• Availability: The current year’s spendable will be available on July 1. Beginning in 2026, your spendable will become available mid-March, with full flexibility on when you can request distributions. •
• Calculation: The spendable amount will be calculated based on your fund’s rolling average balance over the past 12 quarters (versus average daily balance over the same period). For funds established less than three years ago, the spendable amount is based on the quarterly average balance since inception. •
• Rate: The current spendable rate remains at 4.25% and will now be determined by FFTC’s Governing Board.

Prior to this transition, the GCCT Board was already reviewing the GCCT fee schedule, which had not changed in its 23-year history. For the 2024 – 2025 fiscal year, all GCCT fundholders were assessed a flat rate of 23 basis points, and will transition to FFTC’s schedule moving forward.

FFTC Philanthropic Fee Schedule