retirement, millenials, TIAA

TIAA Partnership with University of North Carolina System Launches Donor-Advised Fund Program

Initiative can help donors enhance their overall philanthropy while supporting Institutions within the UNC System

Originally Published by TIAA.
The University of North Carolina System has partnered with TIAA Charitable to provide alumni and friends with a leading-edge donor-advised fund program, which each participating institution can use to enhance its overall philanthropy.

“Our donors are interested in donor-advised funds to help them fulfill their philanthropic goals,” said Timothy A. Minor, vice president for University Advancement for the UNC System. “This System-wide offering provides access that allows each of our 17 individual institutions to offer its own version of the donor-advised fund. Each university has unique needs, and this is one more way to enhance giving opportunities for our supporters.”
A donor-advised fund works like a personal fund dedicated to charitable giving. Instead of writing multiple checks to individual charities, donors put everything into one simple giving fund and can decide now, or later, on the charities they want to support.
Donors can direct contributions to the donor-advised fund 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.
Currently, four UNC System universities are participating in this initiative, including East Carolina University, North Carolina Agricultural and Technical State University, North Carolina State University, and University of North Carolina at Pembroke. The fund program is open to all of the UNC System institutions.
“Donor-advised funds also create a legacy aspect. The fund can be shared with family members and the institution can be named a beneficiary,” added Minor.
Donors who would like to learn more or make a contribution should contact Kinna N. Clark, director of gift planning services at the UNC System, by calling (919) 843-4703 or email: knclark@northcarolina.edu.

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