Columbia Capital Management LLC

Item	5	–	Fees	and	Compensation

Fees for investment advisory services are calculated as a percentage of assets under
management or on a fixed fee basis and are for providing management of an investment
portfolio. The standard fee is .20% of the market value of the assets under management. The
actual fee charged by Columbia Capital may be higher or lower depending on the type and
size of portfolio managed. All fees are subject to negotiation with the client. These fees are
payable in arrears on a monthly basis, or as otherwise negotiated. Fees for other investment
advisory services not involving management of assets are determined by negotiation on a
case-by-case basis.

Our clients will incur modest charges for custodial services, which are separately charged by
the custodian. The custodian is not affiliated with Columbia Capital.

Item	7	–	Types	of	Clients

Columbia Capital provides investment advisory services to local government entities, to not-
for-profit organizations, and other types of institutional clients. Columbia Capital provides
investment advisory services both for operating fund balances and for proceeds of bond
issues, such as construction funds and reserve funds. We generally seek to work with local
government entities and not-for-profit organizations with investable balances of at least

$2,000,000, with the understanding that certain bond proceeds accounts will be expended
over time and fall below that threshold.