A Designated Fund allows you to set aside funds for use by a designated organization, receive your charitable deduction at the time you contribute to the Designated Fund and then spread out the distributions to the organization over time.
This type of fund can be ideal for the donor who wants to make a significant contribution to an organization but has concerns about how the organization might handle receiving a large contribution at one time. Likewise, other supporters of the same organization can contribute to the same fund. Although not required, many times, this takes the form of an endowment.
It’s never too soon to live your legacy.
Contact us for more information on opening a Designated Fund.
*Ideal vehicle to receive qualified charitable distributions from an IRA.