November 28, 2018

How to do More with Your Charitable Dollars

By Beth Pinsker | November 28, 2018 | Reuters

Doing double the good with your charitable dollars sounds like a no-brainer, but investors are just starting to catch on.

A growing number are using special accounts called donor-advised funds, which allow investors to designate assets for charitable giving.

Around 500,000 donor-advised fund accounts across the United States had total assets of $100 billion in fiscal 2017, up 23 percent from the prior year, according to the National Philanthropic Trust. Donations grew about 20 percent to about $19 billion over the year.

Many donors use such funds when they have a large cash infusion from say, the sale of a company or an inheritance, said Gil Crawford, chief executive of MicroVest, an asset management firm based in Bethesda, Maryland which focuses on sustainable investments.

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