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The Bank of America Charitable Gift Fund (CGF) offers a sophisticatedand dynamic way to give to the causes that mean the most to you.
The CGF is a donor-advised fund—a flexible, charitable giving vehicle that is a tax-exempt 501(c)(3) public charity. With the CGF, you can benefit from personalized philanthropic guidance to help maximize your giving, robust online tools to manage your account grantmaking and specialized investment management from our firm.
We handle all the administrative details and regulatory reporting, so you are free to devote more time and energy to your causes without being weighed down by administrative concerns.
When you use the CGF, you can:
Since 1955, donors have depended on the Bank of America Charitable Gift Fund to help execute their philanthropic plans. 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.
We offer the potential to grow your contribution through the experience of some of the industry’s top 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:
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 would like to contribute, we will call upon our extensive in-house resources to explore the most tax-efficient contribution to your CGF account.
Examples of specialty assets include:
The Bank of America Charitable Gift Fund provides flexibility to support your grantmaking strategy. You can:
You can manage your account easily online at any time and from anywhere.
Our portal allows you to:
The CGF will perform all administration and regulatory reporting, enabling you to focus on your giving. When you make contributions to your account, the CGF catalogs your receipts and makes them available online and through your advisor for more efficient tax preparation. Our straightforward fee schedule and statements make it easy for you to understand and anticipate the total fees that will be deducted automatically from your account.
The CGF researches your grant recommendation to validate the organization is in good standing. Once your grant recommendation is approved, we send out the grant check with a letter to the charitable organization.
Opening an account requires a minimal time commitment, making it easy to get started.
|Minimum Initial Contribution||$25,000|
|Minimum Additional Contributions||$250|
|Minimum Investable Balance||$25,000*|
1 Considered on a case-by-case basis.
* If the account balance falls below $25,000 at the end of any quarter, the account will be placed in an all-cash allocation.
Neither Bank of America Private Bank nor any of its affiliates or advisors provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.
Donor-advised fund and private foundation management are provided by Bank of America Private Bank.
Institutional Investments & Philanthropic Solutions (“Philanthropic Solutions”) is part of Bank of America Private Bank, a division of Bank of America, N.A., Member FDIC, and a wholly owned subsidiary of Bank of America Corporation (“BofA Corp.”). Trust and fiduciary services and other banking products are provided by wholly owned banking affiliates of BofA Corp., including Bank of America, N.A. Brokerage services may be performed by wholly owned brokerage affiliates of BofA Corp., including Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”).
Certain Bank of America Private Bank associates are registered representatives with MLPF&S and may assist you with investment products and services provided through MLPF&S and other nonbank investment affiliates. MLPF&S is a registered broker-dealer, Member SIPC, and a wholly owned subsidiary of BofA Corp.