Key Considerations

Please consider the following as you make your decision about whether to establish an account:

Contributions are irrevocable and unconditional

Once you have made a contribution to the Fund, the assets become the property of the Fund and cannot be returned under any circumstances.

The Charitable Gift Account allows you to recommend grants but not control them

Tax laws require that your charitable gifts be irrevocable and unconditional in order for you to receive the associated tax benefits. If you were to retain control over the assets transferred to a Charitable Gift Account, there would be no “gift” for purposes of a charitable deduction. While the Fund will allow you to recommend how assets are invested and disbursed, all recommendations are subject to the approval of the Fund.

Grants from the Fund will be made only to U.S. organizations that are tax-exempt public charities1, or to U.S., state or local governmental organizations qualified to receive tax-deductible charitable contributions, such as state colleges or universities2. The fund cannot approve recommended grants that fulfill a donor’s pre-existing pledge to a charity, or would be used to support or purchase items at any charitable event, such as fundraising dinners, concerts, auctions or other benefit functions where the Donor would receive a quid pro quo. Chances are, the organizations you choose to support to fulfill your philanthropic goals will be acceptable, but you should keep in mind that the Fund has final discretion regarding grant recipients.

Individual tax liabilities vary

Although charitable contributions are usually fully deductible, every individual’s tax situation is unique. Before donating to the Fund, consult with an accountant, attorney, or investment advisor if you would like to know more about how a contribution to the Fund will affect your tax liability.

The minimum amount required to open a Charitable Gift Account is $5,000