The CGF is a donor-advised fund—a flexible, charitable
giving vehicle that is a tax-exempt 501(c)(3) public
charity. The CGF provides turnkey administration,
flexibility in your giving, online access and the ability
to create a lasting charitable impact by allowing you to
devote more time and energy to your causes without being
weighed down by administrative concerns.
BENEFITS
When you use the CGF, you can:
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Move away from “checkbook giving” to formalize your
charitable giving strategy
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Receive a current-year income tax deduction for
contributions made into your account
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Engage your family in your giving with flexible account
privileges
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Maximize the potential impact of your donation through
professional asset management, with tax-free compounding
of investment returns
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Donate appreciated assets such as restricted stock, real
estate, timberland, farms and ranches, or gas, oil and
mineral rights1
and other nonfinancial assets without incurring capital
gains taxes
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Manage all of your account activities online or with the
assistance of your advisor
-
Transition a family foundation to a flexible giving
vehicle eliminating higher costs, increased
administration, and fiduciary burdens of maintaining a
foundation.
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Access the Donor Portal directly via a hyperlink for
single/direct login to your CGF dashboard — this allows
for seamless access between your Bank of America
accounts and to your donor-advised funds
A LEGACY OF CHARITABLE EXPERIENCE
Since 1955, donors have depended on the Bank of America
Charitable Gift Fund to support the organizations and
causes that are most important to them. As one of the
largest trustees of charitable assets in the country, we
draw on deep resources and experience to help you define
your philanthropic purpose and develop your giving
strategy. Your advisor will work closely with you to
determine how the CGF can help you reach your charitable
goals as part of your overall wealth plan.
PROFESSIONAL INVESTMENT MANAGEMENT
We offer the potential to grow your contribution through
the guidance of some of the industry’s most experienced
investment managers at our firm. The CGF portfolios have
been constructed to help meet the specific needs, time
frames and goals of your charitable giving strategy. You
have a choice of eight investment objectives, from fixed
income to appreciation.
Under each asset allocation model, donors may choose a:
-
Actively managed sustainable portfolio
-
Passive (all ETF) portfolio
ABILITY TO ACCEPT COMPLEX ASSETS
Our unique experience allows us to accept a broad range of
donor assets, offering you optimal flexibility in seeking
to maximize the value of your contribution. If you have a
highly appreciated asset that you'd like to contribute,
we'll call upon our extensive resources to explore the
most tax-efficient contribution to your CGF account.
Examples of complex assets include:
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Restricted stock and closely held business interests1
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Real estate, timberland, farms and ranches1
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Gas, oil and mineral rights1
FLEXIBLE, CUSTOMIZED GIVING OPTIONS
The Bank of America Charitable Gift Fund provides
flexibility to support your charitable giving and goals.
You can:
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Personalize your account name
-
Protect your privacy by making anonymous grant
recommendations
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Authorize an unlimited number of individuals to advise
on your account
-
Actively engage your children and grandchildren in
philanthropy
CONVENIENT ONLINE ACCESS
You can manage your account easily online at any time and
from anywhere.
Our portal allows you to:
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View account balances, grant history, pending grants,
investment performance and quarterly account statements
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Make grant recommendations based on your giving strategy
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Decide when to make grant recommendations, where to
direct them and how much to grant
-
Set up single grants or recurring grants
-
Research grantees easily with the GuideStar® database,
which contains over 1.8 million IRS-recognized
charitable organizations2
-
Make contributions to your account and update your
investment objectives.
STREAMLINED ADMINISTRATION
The CGF handles all administrative details and regulatory
reporting, so you're free to devote more time and energy
to the causes you care most about. CGF catalogs receipts
for contributions to your account and makes them available
online and through your advisor for more efficient tax
preparation. Our transparent fee schedule and statements
make it easy for you to understand and anticipate the
total fees that will be deducted automatically from your
account.
HOW TO GET STARTED
Opening an account requires a minimal time commitment,
making it easy to get started.
- Minimum Initial Irrevocable Contribution $25,000
- Minimum Additional Irrevocable Contributions $250
FOR MORE INFORMATION
