You want your support for the organizations and causes that are important to you to be impactful. Since 1955, The Bank of America Charitable Gift Fund is a 501(c)(3)adatext public charity that been helping donors give money to their favorite charities in an organized, tax-efficient and worry-free way. The Charitable Gift Fund (CGF) offers a sophisticated and dynamic way to give charitably and provides tax-free investing options, turnkey administration, flexibility in your giving, online access and the ability to grow your contributions to create a lasting charitable impact.
Benefits
- Receive a current year, market-rate tax deduction.
- Make grant recommendations immediately or in the future.
- Choose to make grants anonymously.
- Professional asset management with tax-free compounding on investment returns.
- Donate appreciated assets, including illiquid assets, without incurring capital gains.
- Choose the CGF portfolio that matches your specific needs, time frames and goals.
Streamlined Administration
The CGF handles all the administrative details and regulatory reporting so you're free to devote more time and energy to the causes you care most about. The CGF catalogs receipts for contributions to your account making them available online and through your advisor for more efficient tax preparation. A transparent fee schedule and straightforward reporting make it easy for you to understand and anticipate the total fees that will be deducted automatically from your account.
Flexible Account Setup
With the CGF, you and your family can give to charity on your own schedule and according to your personal style. You decide when to make grants, where to direct them and how much to grant.
You can:
- Personalize your account name.
- Make anonymous grant recommendations to protect your privacy.
- Authorize others to advise on your account.
- Engage your children and grandchildren in giving.
- Appoint successors to continue your charitable legacy.
- Align your account's investments with your charitable goals.
- Make changes to your investment objective as your goals change over time.
Convenient Online Access
- Enjoy direct access to your CGF account via MyMerrill or Private Bank Online.
- View account balances, grants, contributions, investment performance and quarterly reports.
- Make grant recommendations.
- Conduct research on more than over 1.9 million IRS-recognized charities.
- Update your investment objective.
Start today to make the most of your charitable giving by:
- Contacting your Private Bank or Merrill advisor.
- Emailing us at charitablegiftfund@bofa.com.