A New Way to Give: the Northeastern University Donor Advised Fund
This year, Northeastern University has launched its own donor advised fund in partnership with BNY Mellon Charitable Gift Fund. The Donor Advised Fund is a philanthropic vehicle that allows donors to make a charitable contribution, receive an immediate tax benefit, and then recommend grants from the fund over time. One way to think about the fund is like a charitable savings account: Donors contribute to the fund as frequently as they like, and retain the right to advise when and to which charities grants from their fund will be made.
As a qualified 501(c)(3) nonprofit, Northeastern University is grateful to be considered for contributions through its donor advised fund. This is a convenient and effective way to support our students, faculty, and programs.
The benefits of a Northeastern University Donor Advised Fund include:
It’s an easy way to establish and administer a flexible vehicle for charitable giving
You receive an immediate tax deduction while assets grow tax-free, allowing you to pace your philanthropy
It accepts cash, securities (including mutual funds), and complex assets such as private equity funds, partnership interests, art, and privately held shares
You can give to multiple charities, anonymously or not, with ease and from the same account
It is a tax- and cost-efficient alternative to setting up a private foundation
The donor advised fund is a great way to engage your whole family in philanthropy
How a donor advised fund works:
You make an initial, irrevocable gift of at least $25,000 to initiate the fund
The assets in your fund grow tax-free
You make periodic recommendations on gifts to be made from your fund