PNC’s Fund for Charitable Giving helps you manage your philanthropy with an easy-to-use and secure platform and optimize your current tax savings by giving now and selecting recipients in the future.
The Fund offers access to a convenient online portal where you can view your fund, make contributions, research charities and recommend donations to multiple charities all in one place. Additionally, The Fund handles all record keeping, allowing you to focus on your goals while we take care of the paperwork.
Your contribution to The Fund qualifies for an immediate tax deduction. You also maintain the flexibility to recommend your charitable beneficiaries and spread your gifts to charities over time.
Contributions may be made in cash or in publicly traded securities. The Fund for Charitable Giving also provides a way to eliminate the taxable capital gains you might otherwise realize when you sell appreciated securities while qualifying for a tax deduction for the full market value.
While considering charities to donate to, donors have a series of eleven investment pools they can recommend for their charitable contributions. The current available pools are:
The minimum initial contribution to The Fund for Charitable Giving is $10,000. Subsequent contributions can be made in any amount of $1,000 or more, and they can be made as frequently as you wish. Contributions to The Fund are irrevocable and non-refundable. The Fund can distribute any amount over $250, so you simply log into your online portal whenever you’d like to recommend a donation to a particular charity.
With The Fund you can contribute assets when it makes the most sense, using a structure that qualifies for an immediate tax deduction and decide later potential charitable organizations to recommend as beneficiaries of your gift. Assets remain in The Fund until you recommend a charitable recipient.
You can contribute now to qualify for current tax savings and decide later about the recipients you wish to recommend.
You can contribute cash or any publicly traded stock, bond or mutual fund shares that you’ve held for more than one year which may be transferred from other PNC accounts or any other bank or investment account.
You will have the ability to view your fund, make contributions, research charities, view and print your statements and recommend grants to charities all within the online portal.
The assets you contribute to The Fund are removed from your estate and are not subject to estate or inheritance taxes. In addition, you may also designate The Fund as a beneficiary in your will or other estate planning documents, and this will be treated like any other charitable bequest.
The PNC Private Bank® Philanthropy & Impact team can help you think through your grants and giving strategy. Our Philanthropy Advisors work with you and your family to discover your unique path to Amplify Impact.
The online portal provides convenient access to statements. The Fund also handles record keeping, keeping you apprised quarterly of investment and distribution activity associated with your gift.
To learn more about how The Fund for Charitable Giving can assist you with your philanthropic goals, provide the information below or contact us at 1-888-762-2122.
I’m interested in learning more about The Fund for Charitable Giving.
The Fund for Charitable Giving is a tax-exempt public charity that has been organized to support charitable organizations nationwide. Donors can contribute to it at any time, and they may qualify for a tax deduction each year they make a contribution. Donors can recommend grants or distributions from The Fund to charitable organizations at the time of their choosing.
Once you have decided to open your fund, your PNC Private Bank® team member will help you get started. Once you are registered for your online profile, you will receive an email with your user ID and a link to reset your password and complete the fund opening process.
The minimum initial contribution is $10,000. The minimum for subsequent contributions is $1,000. The minimum grant distribution is $250.
Yes! The Fund for Charitable Giving allows clients a paperless experience. All fund opening, contributions, grant making, and investment pool allocations are done through our online portal. In addition, donors can use the portal to research charities as well as view balances, activity and retrieve statements and receipts on demand.
During the fund opening process you should name successor advisor(s). You can name successor advisor(s) to make grant recommendations from the Fund, or you can also choose to name successor charity(ies) to receive the balance of your fund upon your death. You can reach out to FFCGGroup@pnc.com at any time with adds/changes to your named successor advisor(s). If a successor advisor is not named, then the Trustee reserves the right to distribute your fund’s remaining assets upon your death in accordance with your fund’s grant history.
You will submit the ‘Make a Contribution’ form via your online portal and then follow the instructions to mail or transfer your contribution. We accept cash contributions via check or wire/ACH, or securities via internal or external transfers.
You will recommend grants via your online portal. You can recommend grants to one charity with single or recurring payments, or to multiple charities at once by using the ‘Grant Cart’. You can choose anonymity, if applicable.
You can search for a charity using name, keyword, EIN, focus area or geography, or by using an expanded GuideStar database search. If you are unable to find the preferred charity, you can also Suggest a Charity by completing the form on the search page. The FFCG team will review new charity requests and will notify you if the organization is approved to receive grants. Please note that while you may recommend a grant to a charity that is pending approval, the grant will not be completed until the charity has been approved.
