NC State University Launches Donor-Advised Fund
RALEIGH (April 29, 2019) – NC State University has partnered with TIAA Charitable to provide alumni and friends with a leading-edge donor-advised fund (DAF) program, which the university can use to enhance their overall philanthropy.
Contributions to the donor-advised fund will be invested in a wide range of investment options, including a suite of funds that explicitly incorporate environmental, social and governance (ESG) criteria in their investment decision-making. All growth is tax-free, which may allow for larger gifts over time. In addition, all contributions may be eligible for an immediate tax benefit. Further, when donors contribute long-term appreciated securities or real estate, no capital gains taxes are triggered and the full fair market value of the securities could be available for giving.
“The landscape of philanthropy is continuing to change and a critical component of our Think and Do the Extraordinary Campaign is to provide donors all the instruments they need to achieve their philanthropic goals,” said Brian Sischo, Vice Chancellor for University Advancement at NC State University. “Donor-advised funds allow our donors to focus on philanthropy as part of their overall financial planning.”
Donors making gifts to the NC State Donor Advised Giving Fund will receive the general benefits of a DAF. However, in consideration for offering this giving vehicle, 50 percent of each donor’s “Giving Fund” must be directed to the donor’s area of choice at NC State University or an associated entity. Donors retain the ability to direct (advise) the remaining 50 percent of their Giving Fund to other charities.
“We want to be there for our donors, simplifying and providing opportunities for them to advance their philanthropy,” said David Masich, Executive Director of Gift Planning at North Carolina State University. “The donor-advised fund enhances our program and is one more way for donors to support the university in a way that works for their circumstances.”