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Pooled Income Funds
May I change the designated income beneficiaries after the account is established?
No, the IRS requires income beneficiaries designations to be irrevocable. You may reserve the right to revoke by will the income interest of the second income beneficiary; please acknowledge this in section 3 of the Donor Information Form.
May I transfer privately held, closely held, or restricted stock?
The Pooled Income Funds may accept such securities only in certain cases. Please contact the Trustee if you are interested in making such a gift. The Trustee may be contacted at 800-664-6901.
May I change my investment pools at a later date?
No, pool investment decisions related to the Pooled Income Funds are final; exchanges are not permitted.
May I withdraw my assets at a later time?
No, all contributions to the Pooled Income Funds are irrevocable.
Are there any restrictions in naming an account?
In general, you may choose any name for your Donor Account; but it may be subject to Board of Director's approval.
Donor Advised Fund ("DAF")
May I recommend grants from the DAF to complete a pledge to charity that I have already made?
No, the DAF cannot fullfil a pre-existing pledge.
May I recommend grants from the DAF to any charity I choose?
Only IRS-approved charities that are based in the United States are eligible for grants. In addition, the DAF may not make grants to:
- Provide a private benefit
- Pay dues or membership fees
- Purchase tickets to a benefit
- Purchase goods at charitable auctions
- Be used for lobbying, political contributions, or political campaigns
May I recommend grants from the DAF to a private foundation?
Yes, you may recommend grants to private foundations if it is considered an "operating" private foundation.
May the DAF purchase life insurance on a donor's life?
No, by law, the Trust is restricted from making this purchase.May I transfer privately held, closely held, or restricted stock?
The DAF may accept such securities only in certain cases. Please contact the Trustee if you are interested in making such a gift. The Trustee may be contacted at 800-644-6901.
May I change my investment approach at a later date?
Yes, Donor Advisors may recommend exchanges of their account from one investment model to another. The recommendation is subject to Board of Directors' approval.
May I withdraw my assets at a later time?
No, all gifts to U.S. Charitable Gift Trust are irrevocable.
Is the DAF equipped to handle corporate contributions?
Yes, we will work with clients who have corporate giving needs.
Are there any restrictions in naming an account?
In general, you may choose any name for your Donor Account, but it may be subject to Board of Directors' approval.
Can grants be made anonymously?
Yes, upon request, the grant letter would not provide either the account name or the donor's information.
Will the DAF recommend charities to donors?
USCGT does not recommend specific charities but may assist Donors to identify appropriate charities or better evaluate a particular charity. Links to websites of other charitable resources are included herein. The Trustee can provide additional resources on how to research charities.
My Charitable Fund
My Charitable Fund, an online service that gives clients and financial professionals access to their charitable giving accounts, is a product of Wilmington Trust Retirement and Institutional Services, who acts as the Trustees for the Donor Advised and Pooled Income Funds.