By Todd H. Eckler, Executive Director, Fiduciary Trust Charitable
I would first like to thank our donors for the tremendous difference they have been making in our local, national, and global communities through their generosity, expressed by grants through Fiduciary Trust Charitable. Last year, they recommended grants to over 500 organizations, providing much-needed support to nonprofits facing major challenges and growing needs in the wake of COVID-19.
Over the past three years we have experienced significant growth in our donor-advised fund (DAF) program, as donors have taken advantage of the distinctive benefits that Fiduciary Trust Charitable offers. We have also continued to enhance our tailored offerings to meet evolving donor needs. Last year we were honored to receive a Stevie Award® for innovation in our DAF program, related to enabling specific-purpose public charities, foundations, and religious institutions to utilize donor-advised funds. We are excited to share the following enhancements that will be released over the next few months:
- Acceptance of Special Assets as Gifts: This includes restricted stock, private equity, hedge funds, private company stock, real estate, art, and other assets; subject to review and our acceptance process.
- International Grants: Grants can now be made to foreign nonprofits, even if they do not have a U.S. affiliate, through our international giving partner.
- Hate-Free Philanthropy: Consistent with the grant requests of our donors, we believe charitable giving is about creating positive change in the community and world. Therefore, we have adopted the “Hate Is Not Charitable” pledge to not permit grants to organizations that attack or malign entire classes of people for their immutable characteristics.
Our donors come to Fiduciary Trust Charitable for a variety of reasons:
- General DAF Benefits: Tax deductibility of gifts, grant-timing flexibility, and grant anonymity
- Tailored Approach: Custom and unconstrained investments, personal service, consolidated experience with your financial advisor, and integration with wealth planning
- Conversion of a Private Foundation, Public Charity, or Religious Fund to a DAF
- Charitable Gift Bunching: Maximizing of charitable tax deductions through consolidating multi-year gifts (learn more at fiduciary-trust.com/bunching)
- Multi-Generational Engagement: Conveying of values and deepening of bonds through family involvement in grantmaking strategy and requests
To learn more about how our donor-advised fund program can benefit you, please contact your Fiduciary Trust Officer.