Sponsor Donation Recommendations
AUM
$3.5B
Number of Accounts
14,267
Minimum Balance
$250
Initial Contribution Minimum
$25,000
Grant Minimum Amount
$250
Grant Timing
1 - 2 Weeks
Investment Options
6 - 10
Administrative Fee
0.6 - 0.9%
Since 1955, The Bank of America Charitable Gift Fund has been helping donors contribute money to their favorite charities in an organized, tax-efficient, streamlined and worry-free way.
Sponsor Donation Recommendations
International Granting
Accepts Illiquid Contributions
Ability of 3rd Party Advisors
Political or Religious Affiliation
Sell Their Own Financial Products
Tax Requirements
Minimum Grant Frequency Requirement
Provides Anonymity if Requested
Transferability to Another Sponsor
No History of Security Breaches
Good
Great
Bank of America
None
Donors may make grant recommendations to Qualified Organizations ogranized in the U.S. that fuction as intermediary organizations facilitating international charitable giving.
The Charitable Gift Fund accepts a wide variety of assets including: Cash, securities & mutual funds, restricted stock and closely held business interests, real estate, timberland, farms & ranches, gas, oil and mineral rights. Non-financial, tangible assets are considered on a case-by-case basis.
You may name unlimited advisors to your fund at any time. An advisor has all the powers that the donor has during the donor’s life to the DAF account, including granting ability, investment reallocation, & naming of successors.
The Bank of America Charitable Gift Fund is independent of any religious or political organizations.
None
There is no tax code requirement for DAF donors to meet a minimum payout requirement.
A grant must be made at least every 5 years.
Grants to organizations where the IRS requires expenditure responsibility will not be approved. For example: private non-operating foundations as well as 509(a)(3) functionally non-integrated organizations.
Donors may request their grant recommendation be made anonymously to the recommended charitable organization. Both the donor name and/or the name of the donor’s gift fund account will remain anonymous, if requested.
The Gift Fund offers 8 Investment Objectives, a money market fund and 7 strategic asset allocation models ranging from All fixed income through Appreciation. Under each asset allocation model, you may recommend one of the following: Sustainable, separately managed account (SMA) or portfolio All-ETF portfolio (passive).
Assets can be transfered to another DAF sponsor that is also a 501(c)(3) charitiy.
In 2011, a Bank of America insider leaked and sold confidential customer data to scammers, resulting in more than $10 million in losses. Scammers stole names, addresses, social security numbers, phone numbers, bank account numbers, driver’s license numbers, birth dates, email addresses, mother’s maiden names, PINs and account balances-resulting in identify theft of hunders of Bank of America cutomers.
0.90% on $0-$100,000; 0.75% on $100,001-$500,000; 0.50% on $500,001-$1,000,000; 0.35% on $1,000,001-$2,500,000; 0.25% on$2,500,001-$5,000,000; 0.15% on $5,000,001-$20,000,000; 0.10% on amounts over $20,000,001
Dedicated team for support. • 888-703-2345 •charitablegiftfund@bofa.com
Online Platform & Mobile App (MyMerrill)
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