SOURCE: Save the Children

Save the Children

November 19, 2010 11:26 ET

Save the Children Reports Significant Increase in Gifts From Donor Advised Funds

As Donors Seek End of Year Tax Benefits

WESTPORT, CT--(Marketwire - November 19, 2010) - Save the Children, the global humanitarian organization, today reported that donations from Donor Advised Funds rose over 325% to more than $5.2 million from the previous twelve-month period ending in October. According to Save the Children's President and CEO Charlie MacCormack, "This type of investment is on the rise as donors seek a less time-consuming and more cost-effective way to manage their philanthropic planning."

A Donor Advised Fund manages charitable donations on behalf of an organization, family, or individual and allows donors to give cash, stock, or other assets. Donors receive an immediate tax deduction when the contribution is made.

"My husband Tony and I had been sponsoring a child through Save the Children for over ten years," said Phyllis Teitelbaum, a supporter of Save the Children since 1972, "but we reached a point in our financial lives when we were able to give larger amounts. We learned that one way to maximize the impact of our gifts is to donate appreciated stocks, which had significantly increased in value. When we give appreciated stocks to Save the Children, we get a tax deduction on the stock's appreciated value, and we pay no capital gains tax on the stock. This makes it possible for us to give a larger donation and make a greater impact on the lives of children."

"There was only one disadvantage to giving appreciated stocks," her husband Tony added. "The process involved quite a bit of paperwork. We were therefore delighted when financial institutions developed Donor Advised Funds, which eliminate a huge amount of paperwork." 

Save the Children observed that it has seen an increase in the level of giving activity from several of the financial institutions that offer Donor Advised Funds, including Vanguard Charitable, Tides Foundation, Fidelity Charitable Gift Fund, California Community Foundation, Schwab Fund for Charitable Giving, and the National Philanthropic Trust.

Save the Children is the leading independent organization creating lasting change in the lives of children in need in the United States and around the world. We are a member of a global network of 29 independent organizations working to ensure the well-being and protection of children in more than 120 countries.

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