Fiduciary Trust Charitable issued the following press release:
BOSTON – September 30, 2020 – In this challenging time, Fiduciary Trust Charitable appreciates the generosity of its donors in requesting grants to provide support to nonprofits serving a wide variety of community needs. Fiduciary Trust Charitable, an independent public charity, continues to develop solutions to help donors efficiently contribute to causes that are important to them. It is therefore honored to receive a Stevie® Award in the American Business Awards® for its innovation in the development of a restricted donor-advised fund offering. More than 3,600 nominations from organizations across industries were submitted this year for consideration in a range of categories.
Many public charities, private foundations, and religious institutions’ funds are designated for restricted uses, such as supporting a specific geography, a specific organization, or a particular academic program. To focus resources on charitable missions and reduce administrative costs and complexity, some charities and private foundations seek to move a portion or all of their funds to a donor-advised fund (DAF).
Since traditional donor-advised funds typically permit grant recommendations to any IRS-qualified charity, assets from public charity, private foundation, and religious institution restricted funds often cannot be placed in a traditional donor-advised fund. Fiduciary Trust Charitable’s innovative Restricted Donor-Advised Fund Program alleviates this challenge through enabling custom restrictions on its funds.
For more information on FT Charitable’s donor-advised funds, please visit www.FTCharitable.org or contact Todd H. Eckler, Executive Director, at 617-292-6766 or ftcharitable@fiduciary-trust.com.
About Fiduciary Trust Charitable
Established in 1990, Fiduciary Trust Charitable is an independent, 501(c)(3) public charity that helps donors achieve their charitable objectives through flexible, tax-efficient charitable giving vehicles. Its donor-advised funds are focused on donors who value personal service, flexibility, and expertise. The organization partners with independent financial advisors who manage assets for each donor, taking into account donor recommendations and Fiduciary Trust Charitable’s investment policy.
Fiduciary Trust Company serves as the administrative services provider for Fiduciary Trust Charitable’s offerings.
About Fiduciary Trust Company
Fiduciary Trust is a privately owned wealth management firm focused on families, individuals and nonprofits seeking objective advice to help grow and protect their investments. The firm also provides a range of services to professional financial advisors and single-family offices. Fiduciary Trust’s capabilities include customized wealth planning, investment management, trustee and estate services, and family office, tax and custody services.
Fiduciary Trust has been named “Best Wealth Manager” by Massachusetts Lawyers Weekly readers and “Best Independent Trust Company” by Family Wealth Report.
Founded in 1885 as a family office, Fiduciary Trust takes a personal approach based on expertise, strong performance and a genuine commitment to act in its clients’ best interests. The firm’s client focus has enabled it to achieve a 98% annual client retention rate.
For additional information about Fiduciary Trust’s services, please visit www.fiduciary-trust.com, or contact Rick Tyson at 617-292-6799 or tyson@fiduciary-trust.com.