JENKINTOWN, Pa.--(BUSINESS WIRE)--Glenmede, a privately-held and independent investment and wealth management firm with $37 billion in assets under management, is proud to announce the launch of its donor-advised fund program, the Glenmede Donor-Advised Fund. Glenmede is offering the donor-advised fund in partnership with National Philanthropic Trust (NPT), a national public charity. The donor-advised fund enables Glenmede clients to recommend grants to charitable organizations while benefiting from an immediate income tax deduction on irrevocable contributions of cash, appreciated securities or other assets to the donor-advised fund.
“Glenmede’s history is rooted in philanthropy and our clients are exceptionally generous,” said Nina Cohen, Director of Endowment and Foundation Advisory. “The Glenmede Donor-Advised Fund continues our long tradition of offering clients creative and flexible solutions to managing their wealth to meet their objectives.”
Through its charitable partner, NPT, Glenmede clients can contribute a wide range of assets to their donor-advised funds, including cash, appreciated stock, bonds, mutual funds, restricted and closely-held or non-publicly traded securities, real estate, limited partnerships, deferred gifts and other illiquid assets. Assets in the donor-advised fund grow tax-free.
The Glenmede Donor-Advised Fund offers several pre-approved investment options of model portfolios. The offerings cover three risk profiles and time-horizons, and a broad range of investment asset classes. Clients with donor-advised fund assets above $5 million can recommend a customized investment strategy.
International giving has become a major trend in philanthropy, but grantmaking in foreign countries can be complex. NPT allows Glenmede clients to recommend grants to any qualified charity both in the United States and abroad.
“With NPT’s expertise and streamlined administration, we can offer our clients an effective and efficient way of giving,” said Cohen. “The Glenmede Donor-Advised Fund provides another tool in the tool box for our philanthropic clients and may serve as a compliment to a private foundation, charitable trust or donor-advised fund with a local community foundation.”
The minimum initial contribution to the program for existing Glenmede clients is $25,000, with subsequent contributions required to be $5,000 or more. Donors may recommend an unlimited number of grants of $250 or more and may determine how they would like to be recognized for each grant, including the option to remain anonymous. Donors may also name successor advisors to their fund, providing them the opportunity to pass along their philanthropic values to future generations.
“NPT is honored and excited to partner with Glenmede to bring donor-advised funds to their clients,” said Eileen Heisman, President and CEO of National Philanthropic Trust. “Our organizations share a commitment to serving our clients and their families at the highest level. We look forward to helping Glenmede’s clients make charitable gifts in the Philadelphia region, across the US and around the globe.”
Founded in 1956 by the Pew family to manage their charitable assets, The Glenmede Trust Company, N.A. (“Glenmede”) is among the nation's leading investment and wealth management firms. The company oversees more than $37 billion of assets under management for high-net-worth individuals, families, family offices, endowment, foundation and institutional clients. Headquartered in Philadelphia, the firm has offices in Ohio, Delaware, New Jersey, New York and Washington, DC. For further information, please visit www.glenmede.com.
National Philanthropic Trust (NPT) is a public charity dedicated to providing philanthropic expertise to donors, foundations and financial institutions, enabling them to realize their philanthropic aspirations. NPT was founded in 1996. Since that time, we have raised $7.9 billion in charitable contributions and currently manage $4.3 billion in charitable assets. We have made more than 170,000 grants totaling $4.3 billion to charities all over the world. We rank among the 25 largest grantmaking institutions in the United States. NPT annually publishes the Donor-Advised Fund Report, the industry’s authority on the state of DAF giving. In 2016, NPT launched HistoryofGiving.org, the world’s first, most comprehensive digital narrative of the last 500 years in philanthropy. More at NPTrust.org.