Establishing a giving account is the first step toward creating a charitable legacy and can extend your giving for years to come.
Give Together With Family And Friends
A giving account can help you cultivate a charitable giving tradition in your family and carry it on beyond your lifetime with the naming of additional donor/grant advisors and/or successor(s).
Additional Donor/Grant Advisors Family or friends
Family or friends can participate in a charitable account and enjoy the same privileges as a primary donor-advisor.
Successor Grant Advisor(s)
You can name successors to assume rights to your account upon the death of all active donor/grant advisor(s) or spilt the account between successors establishing new accounts in their names.
Honor Your Favorite Charity
Add a Beneficiary Organization
You can name one or more qualified charitable organizations as the recipient of account assets upon your death. You choose the percentage of assets to be distributed to each named beneficiary.
Create a Charitable Legacy Plan
Fill in and submit the attached form to establish a charitable legacy plan to request distributions of charitable assets after the death of the last remaining donor-advisor. Triggered by the surviving donor-advisor’s passing, plans can include beneficiary organizations, the account duration time, and the annual distribution percentage.
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3 Strategies for Family Philanthropy
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DAF As A Legacy Giving Tool
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Legacy Gift Types
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Frequently asked questions
Here are some of our frequently asked questions
You can name your giving account as a beneficiary of testamentary contributions from your financial accounts, will, insurance policy, or trust. You may gift a specific dollar amount, a percentage of your assets, or the remainder after all other provisions are specified. Please use our legal name and tax ID number as the named beneficiary in your documents and estate plans: The T. Rowe Price Program for Charitable Giving 31-1709466. If you intend to make the initial contribution to your giving account via this method, please inform us.
The advantage of this strategy is that your estate will receive an estate tax charitable deduction for the amount of the bequest. Prior to making the contribution, you may want to discuss this decision with your tax advisor or attorney to ensure that these assets are not needed for you or your family.
Donor-advisors are encouraged to name successors and/or beneficiary organizations to their giving account to create a legacy of giving. Successors are individuals who will assume donor-advisor rights after the active donor-advisors are deceased. Charitable beneficiary organizations will receive the proceeds of a giving account after active donor-advisors are deceased.
If there is no successor or beneficiary named, T. Rowe Price Charitable will consider the account to be orphaned and follow these procedures:
- If there is no granting history, then the balance of the giving account will be transferred to our General Giving Fund.
- If there is a granting history, the first consideration will be to make grants that reflect the donor-advisor’s past giving history, and with respect to deceased advisors, making grant awards in memory of such donor-advisors. If the previously supported organizations are no longer eligible, the balance of the fund will be transferred to our General Giving Fund.
You have two options for supporting charities beyond your lifetime:
- Name beneficiary charities to receive the remainder of account assets in a lump payment.
- Establish a charitable legacy plan to request an annual disbursement of account assets. You select one or more beneficiary organizations, the account duration time, and the annual distribution percentage. A $10,000 minimum account balance is required at the time of activation.
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T. Rowe Price Charitable
P.O. Box 17115
Baltimore, MD 21297 - 1115