The Bank of America Charitable Gift Fund

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 Bank of America Charitable Gift Fund image

A SMARTER WAY TO GIVE

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.

BENEFITS

When you use the CGF, you can:

  • Move away from “checkbook giving” to formalize your charitable giving strategy
  • Receive a current-year income tax deduction for contributions made into your account
  • Engage your family in your giving with flexible account privileges
  • Maximize the potential impact of your donation through professional asset management, with tax-free compounding of investment returns
  • 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
  • Manage all of your account activities online or with the assistance of your advisor
  • Transition a family foundation to a simpler giving vehicle without the higher costs and increased administrative and fiduciary burdens

A LEGACY OF CHARITABLE EXPERIENCE

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.

PROFESSIONAL INVESTMENT MANAGEMENT

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:

  • Hybrid (mutual fund and ETF) portfolio
  • Passive (all ETF) portfolio

ABILITY TO ACCEPT SPECIALTY 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 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:

  • Restricted stock and closely held business interests1
  • Real estate, timberland, farms and ranches1
  • Gas, oil and mineral rights1

FLEXIBLE, CUSTOMIZED GIVING OPTIONS

The Bank of America Charitable Gift Fund provides flexibility to support your grantmaking strategy. You can:

  • Personalize your account name
  • Make anonymous grant recommendations to protect your privacy
  • 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:

  • View account balances, grant history, grants pending, investment performance and quarterly account statements
  • Make grant recommendations
  • Decide when to make grant recommendations, where to direct them and how much to grant
  • Set up single one time grant or recurring grants
  • Research grantees easily with the GuideStar® database, which contains over 1.7 million IRS-recognized charitable organizations
  • Make contributions to your account and update your investment objectives.

STREAMLINED ADMINISTRATION

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.

HOW TO GET STARTED

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*

 

FOR MORE INFORMATION

A private wealth advisor can help you get started.

Find an advisor

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.

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Investing involves risk. There is always the potential of losing money when you invest in securities.

Asset allocation, diversification and rebalancing do not ensure a profit or protect against loss in declining markets.

Merrill, its affiliates, and financial advisors do not provide legal, tax or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as “MLPF&S” or “Merrill”) makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation (“BofA Corp.”).  MLPF&S is a registered broker-dealer, registered investment adviser, Member SIPC and a wholly owned subsidiary of BofA Corp.

Merrill Private Wealth Management is a division of MLPF&S that offers a broad array of personalized wealth management products and services. Both brokerage and investment advisory services (including financial planning) are offered by the Private Wealth Advisors through MLPF&S. The nature and degree of advice and assistance provided, the fees charged, and client rights and Merrill’s obligations will differ among these services. Investments involve risk, including the possible loss of principal investment.

The banking, credit and trust services sold by Private Wealth Advisors are offered by licensed banks and trust companies, including Bank of America, N.A., Member FDIC, and other affiliated banks.

Insurance and annuity products are offered through Merrill Lynch Life Agency Inc., a licensed insurance agency and wholly owned subsidiary of Bank of America Corporation.

Investment products, insurance and annuity products:

Are Not FDIC Insured
Are Not Bank Guaranteed
May Lose Value
Are Not Deposits
Are Not Insured by Any Federal Government Agency
Are Not a Condition to Any Banking Service or Activity

© Bank of America Corporation. All rights reserved.

2821341-EXP-2020-11-19

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