Merrill Lynch Community Charitable Fund
Clients with Merrill Lynch have the opportunity to create a Donor Advised Fund with the Grand Rapids Community Foundation through the Merrill Lynch Community Charitable Fund Program.
Developed several years ago between Merrill Lynch Co. and community foundations across the U.S, this program allows clients to donate cash, stock or other financial assets to the Community Foundation through their Merrill Lynch financial advisor. Merrill Lynch continues the management of the fund, while the Community Foundation assists the client in identifying his/her philanthropic goals, provides in depth information about local nonprofits, and facilitates the grantmaking process.
The minimum gift to establish a Donor Advised Fund through the Merrill Lynch program is $25,000.
With a Merrill Lynch Community Charitable Fund the Merrill Lynch client can:
- Benefit from the maximum tax benefits under law.
- Gifts to the Merrill Lynch Fund are tax deductible in the year they are made, even if the funds will not be distributed to nonprofits until a later date.
- The fund does not pay capital gains tax on appreciated securities.
- The assets donated to the fund are removed from the estate avoiding gift and estate taxes.
- The assets in the fund grow tax free.
- Make grants to the nonprofits they choose at any time.
- Create their family’s philanthropic legacy, memorialize a loved one, or choose to give anonymously.
- Work with their own Merrill Lynch advisor to determine the investment strategy for their donor advised fund based on their risk preference and timing of distributions to grant recipients.
To learn more about this program, please contact the Community Foundation’s development staff at 616.454.1751.
© Grand Rapids Community Foundation - 161 Ottawa Avenue NW 209 C - Grand Rapids, Michigan 49503 - 616.454.1751
