FOR IMMEDIATE RELEASE
Initiative can help donors enhance their overall philanthropy while supporting
institutions within the UNC System
CHAPEL HILL, NC – The University of North Carolina System has partnered with TIAA Charitable to provide alumni and friends with a leading-edge donor-advised fund program, which each participating institution can use to enhance its overall philanthropy.
“Our donors are interested in donor-advised funds to help them fulfill their philanthropic goals,” said Timothy A. Minor, vice president for University Advancement for the UNC System. “This System-wide offering provides access that allows each of our 17 individual institutions to offer its own version of the donor-advised fund. Each university has unique needs, and this is one more way to enhance giving opportunities for our supporters.”
A donor-advised fund works like a personal fund dedicated to charitable giving. Instead of writing multiple checks to individual charities, donors put everything into one simple giving fund and can decide now, or later, on the charities they want to support.
Donors can direct contributions to the donor-advised fund in a wide range of investment options, including a suite of funds that explicitly incorporate environmental, social, and governance (ESG) criteria in their investment decision-making. All growth is tax-free, which may allow for larger gifts over time. In addition, all contributions may be eligible for an immediate tax benefit. Further, when donors contribute long-term appreciated securities or real estate, no capital gains taxes are triggered and the full fair market value of the securities could be available for giving.
Currently, four UNC System universities are participating in this initiative: East Carolina University, North Carolina Agricultural and Technical State University, North Carolina State University, and University of North Carolina at Pembroke. The fund program is open to all of the UNC System institutions.
“Donor-advised funds also create a legacy aspect. The fund can be shared with family members and the institution can be named as a beneficiary,” added Minor.
Donors who would like to learn more or contribute should contact Kinna N. Clark, director of gift planning services at the UNC System, by calling (919) 843-4703 or email: knclark@northcarolina.edu.
About TIAA Charitable
TIAA Charitable (https://www.tiaacharitable.org) was established by TIAA, a trusted partner to academic and non-profit institutions for a century. TIAA Charitable is an independent public charity dedicated to encouraging philanthropy by helping donors make the most of their generosity.
TIAA Charitable is the brand name for an independent public charity that maintains a donor-advised fund program. The TIAA name is a registered mark of Teachers Insurance and Annuity Association of America and is used by TIAA Charitable pursuant to a license.
The material is for informational purposes only and should not be regarded as a recommendation or an offer to buy or sell any product or service to which this information may relate. Certain products and services may not be available to all entities or persons. Past performance does not guarantee future results.
TIAA Charitable does not provide tax advice. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.
Contributions to the donor-advised fund are irrevocable. All recommendations from donors are subject to review and approval by TIAA Charitable.
TIAA Charitable, Inc. has been recognized by the Internal Revenue Service as a tax-exempt public charity under Sections 501(c)(3) and 170(b)(1)(A)(vi) of the Internal Revenue Code of 1986, as amended (the “Code”).