Charitable Trust Question

[JimboPColtrane]

I have a long-time friend / financial mentor that has asked me to be the administrator for a charitable trust he is setting up.  Upon his death he plans to initiate a $5MM+ charitable trust to benefit a local university to provide scholarships for students-athletes of non-revenue sports. He doesn’t want the university to control the assets, he wants me to “have total control of the asset investments and annual distributions to the school” and I would be responsible for filing taxes, etc for the trust.  He has told me that I should draw a modest compensation from the trust for my administration efforts.   Does anyone know how much compensation is appropriate for providing this administration?  
 

Thanks for your input.  

[Bob the Swimmer]

My recollection is that states/localities have informal broad guidelines as we handled two estates in my family for

Pennsylvania where I was an executor and co-executor.

You could also check with a Trust Officer and ask what the guidelines are for their jurisdiction. Or it could be found on google.