In this webcast, Wells Fargo Philanthropic Services group discuss how donor advised funds can help maximize your charitable giving.

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Transcript: Maximize Your Charitable Gifts


Beth Renner, National Director Philanthropic Services, Wells Fargo Private Bank
Henri Fitzgerald, Philanthropic Planning Director, Wells Fargo Private Bank
Christopher Spaugh, Philanthropic Services Manager, Wells Fargo Private Bank 

Philanthropy is very personal to donors. They want to see their dreams fulfilled, their legacy left after they’re gone. They want to make a change in the world around them. 

Some of the common missteps that donors make when supporting their favorite charitable causes are the result of failing to articulate their charitable mission and a failure to articulate their desired impact that they want to have with their charitable gift. Donors often know what causes they want to fund, what charitable purposes they want to fulfill, so often the conversation moves to how they do that.

A donor advised fund may provide that flexibility that a donor needs to achieve their philanthropic goals. The donor makes an irrevocable gift of assets to the sponsoring charity providing recommendations around investment management as well as granting. The Wells Fargo® Philanthropy fund is a high quality donor advised fund that is hosted by the Renaissance Charitable Foundation. It provides a simple way for donors to manage their philanthropy through online access, through top of class investment options, and through timely distributions. 

Some of the most common ways clients give to charities includes cash or writing a check. A donor advised fund allows them additional flexibility on the types of assets they can give. Whether it be highly appreciated securities, maybe it’s a stock that’s run up in value, with a very low basis. Real estate, maybe they’re sitting on investment properties or rental properties, that’s an option to donate to a donor advised fund. Also, there’s a lot of wealth in this country tied up in closely held businesses, C corps, S corps, and other assets or specialty assets. Those can also be donated to a donor advised fund. 

Donors often like to involve their family in charitable giving that could include children and grandchildren. One family member can make grants to causes that are important to them and another family member can incorporate the donor advised funds into causes that are important to that family member. But the charity has the responsibility also to research that grant recommendation and actually delve into that to make sure it’s a qualified charitable distribution. 

Having a well-developed giving strategy is a key factor in becoming successful philanthropist. A donor advised fund can provide you the flexibility that you need to achieve your philanthropic goals. 

Please call your Relationship Manager or one of our Philanthropic Strategists at 855-435-4108 to see how the Wells Fargo® Philanthropy Fund might work for you.

The Wells Fargo Philanthropy Fund is a donor advised fund program sponsored by the Renaissance Charitable Foundation Inc. This donor advised fund program is made available through Wells Fargo Private Bank, which provides products and services through Wells Fargo Bank, N.A. and its various affiliates and subsidiaries. As required by law, all contributions to a Wells Fargo Philanthropy Fund Gift Account are under the exclusive legal control of the Renaissance Charitable Foundation Inc.

Wells Fargo Wealth Management provides products and services through Wells Fargo Bank, N.A. and its various affiliates and subsidiaries. Neither Wells Fargo & Company, its affiliates, nor the Renaissance Charitable Foundation Inc. provide legal advice. Please consult your legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your situation at the time your taxes are prepared.

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