BOSTON, Nov. 4, 2015 /PRNewswire/ -- The U.S. Charitable Gift Trust® (USCGT) today announced record grant making to charities across the United States. Since its inception in 2000, the USCGT has distributed over $473 million in gifts to over 46,000 charitable organizations. In addition, donor confidence in the USCGT's program remains high and its assets reached $492 million as of October 30, 2015.
The USCGT is an independent tax-exempt public charity approved by the Internal Revenue Service that receives donations from individuals, corporations, and others to make gifts to qualified charities throughout the United States. Through its donor advised funds and pooled income funds, the USCGT offers the opportunity to manage philanthropic interests and goals through one simple, straightforward vehicle. The USCGT platform provides cost efficiencies and many of the same advantages as a private foundation but without the complexities and costs.
"Donors make irrevocable contributions in the form of cash, securities, or mutual fund shares to their USCGT account and decide how their funds are invested and recommend grants to their favorite charities," said Jeffrey P. Beale, President of The USCGT. "It is a convenient and smart way for individuals and families to conduct their charitable giving through a tax-preferred account."
A further development related to the USCGT is the recent availability of the new pooled income funds (PIFs) V program which currently offers clients a significant charitable tax deduction. These gift vehicles are designed for donor whose most immediate need is income but who ultimately would like their USCGT donation to benefit their designated charities. Contributions can be made with appreciated assets without paying capital gains tax which means all of the donor's money will be going to work for them and for the benefit of their charitable goals.
The USCGT is an independent tax-exempt public charity established in 2000 which receives donations from individuals, corporations and others, as well as from its donor advised funds, and makes grants to numerous charitable organizations throughout the United States, including charities selected by the USCGT and those recommended to the USCGT by donors and others authorized by the donor to make grant recommendations. The USCGT was established to provide support to a broad range of charities over time, without incurring the costs and administrative burdens associated with the creation and operation of separate charitable foundations, while at the same time allowing donors to determine when and how to make their charitable gifts. All gifts made to the USCGT are under the exclusive legal control of the USCGT and its board of directors. For more information about USCGT, visit uscharitablegifttrust.org.
SOURCE Eaton Vance Corporate