The fund allows friends of the university to make contributions that are invested and allocated at the donor’s discretion.
The George Washington University has introduced a new way for supporters of the university to contribute philanthropically through a Donor Advised Fund.
The GW Donor Advised Fund, part of the BNY Mellon Charitable Gift Fund, enables donors to contribute cash, securities or other assets that are then invested according to the donor’s preferences—for example, in index funds or those that consider environmental, social and governance issues. The funds can be donated to GW and other charities immediately, or the investments may grow tax-free until the donor decides when and where to make donation allocations.
The GW Donor Advised Fund essentially separates the timing of the gifting phase from the donation phase, allowing donors greater flexibility to make decisions about the philanthropic impact they would like to make at GW and other nonprofit organizations that align with their philanthropic goals.
“At a time in which philanthropic support is more critical than ever before, we are pleased to launch the GW Donor Advised Fund, which offers our supporters ease and flexibility in making their charitable contributions,” said Donna Arbide, GW’s vice president for Development and Alumni Relations.
Donor advised funds, which have the advantage of being a simpler and tax-efficient way to maximize a donor’s giving, have gained in popularity in recent years. Because contributions to the fund may be eligible for tax deductions and grow tax free, the fund enables donors to integrate their philanthropy into their financial planning more seamlessly. The GW Donor Advised Fund also makes it easier for the university to benefit from gifts of complex assets such as real estate, closely held shares of companies and private equity.
“Many of the country’s leading universities have donor advised funds,” said Courtney Tsai, assistant vice president of planned giving at GW. “The GW Donor Advised Fund is ideal for donors interested in the foundation-like benefits of donor advised funds and the simplicity of handling all of their philanthropic giving through a single vehicle.”
Those interested in more information may contact Ms. Tsai in GW’s Office of Planned Giving at [email protected] or by calling 877-498-7590.