UNC System Launches Donor-Advised Fund Program; N.C. A&T One of Four Participants

EAST GREENSBORO, N.C. (April 26, 2019) – Through a new University of North Carolina System partnership with TIAA Charitable, North Carolina Agricultural and Technical State University is the first historically black college or university to offer a leading-edge, branded donor-advised fund (DAF) program to alumni and friends.

With this partnership, cash, securities and other highly appreciated assets may be placed into the Aggie Charitable Giving Fund (ACGF). Donors may elect to make an immediate gift to N.C. A&T and other charities or to invest for additional tax free growth. Philanthropists may remain anonymous and/or establish a systematic way to support the causes they care about.

“It is important for us to offer our alumni and constituents flexibility and innovative programs to meet their charitable giving needs,” said Ken Sigmon, vice chancellor for University Advancement. “The TIAA fund will provide additional opportunities beyond traditional means through various secure options.”

A donor-advised fund works like a personal fund dedicated to charitable giving. In lieu of writing multiple checks to individual charities, donors have the option to place assets into one giving fund while maintaining distribution discretion into a wide range of investment options, including a suite of funds that explicitly incorporate environmental, social, and governance criteria in their investment decision-making.

All growth is tax-free, which may allow for larger gifts over time. In addition, all contributions may be eligible for an immediate tax benefit. Further, when donors contribute long-term appreciated securities or real estate, no capital gains taxes are triggered and the full fair market value of the securities could be available for giving.

“Our donors are interested in donor-advised funds to help them fulfill their philanthropic goals,” said Timothy A. Minor, vice president for University Advancement for the UNC System. “This system-wide offering provides access that allows each of our 17 individual institutions to offer its own version of the donor-advised fund. Each university has unique needs, and this is one more way to enhance giving opportunities for our supporters.”

Currently, three additional UNC System universities are participating in the initiative, including East Carolina University, North Carolina State University, and University of North Carolina at Pembroke. The fund program is open to all of the UNC System institutions.

TIAA Charitable is an independent public charity dedicated to encouraging philanthropy by helping donors make the most of their generosity.