TIFIN Give Enhances Philanthropic Services with New Single-Charity Fund Feature

TIFIN Give Introduces Single-Charity Fund Functionality

TIFIN Give, a leading company in modern philanthropic planning, has unveiled a new feature allowing the creation of single-charity funds. This addition significantly enhances the tools available for financial advisors, enabling them to better assist high-net-worth clients with their charitable giving strategies. This functionality is particularly valuable as it aligns with clients' tax-efficient giving needs, especially for those who are approaching or have reached the age for required minimum distributions (RMDs) from Individual Retirement Accounts (IRAs).

Understanding the Need for Single-Charity Funds

As wealth transfers through generations, there is an upward trend for individuals to seek more intentional philanthropic involvement. Advisors frequently encounter challenges in managing RMDs while ensuring tax-efficient charitable contributions. The integration of single-charity funds addresses these challenges by allowing clients to handle their charitable giving more strategically.

Blake Rohde, Chief Experience Officer at TIFIN Give, elaborates on the new feature: "This capability was developed to address a common challenge we have heard from advisors—helping high-net-worth clients manage required minimum distributions while optimizing tax-efficient charitable giving."

The Mechanics of Single-Charity Funds

Single-charity funds enable clients to designate their contributions to a specific nonprofit organization while retaining investment flexibility inherent in donor-advised funds (DAFs). This new feature allows advisors to guide their clients toward impactful giving while effectively complying with tax regulations. With the ability to transfer up to $108,000 annually from an IRA to charity via Qualified Charitable Distributions (QCDs), clients can now manage their RMDs efficiently without significantly increasing their taxable income. However, the use of QCDs had limitations in the past, as they could not be directed to donor-advised funds, underscoring the importance of single-charity funds.

Elevating the Philanthropic Experience

Joni White, Philanthropic Trust Administrator at Blue Trust, stressed the necessity of this addition: "Single-charity funds are a critical component of philanthropic planning, particularly for our high-net-worth clients. By integrating single-charity funds into the BlueGive experience, we can more comprehensively support our clients' charitable and financial goals."

For advisors, this new tool enhances their portfolio of offering and provides a way to strengthen client relationships by aligning charitable intentions with financial strategies. With an estimated $18 trillion expected to be directed to charity as part of the Great Wealth Transfer, the adoption of thoughtful philanthropic solutions becomes even more critical.

A Comprehensive Philanthropic Solution

The integration of single-charity funds into TIFIN Give's existing platform offers a dual approach to charitable contributions. Clients can choose between a broad-based charitable flexibility typical of traditional DAFs or commit long-term to a specific nonprofit. This flexibility in choosing how they give empowers clients to strategize their philanthropic efforts, optimizing the financial impact while maintaining personal connections to the causes they care about.

More Information

Financial advisors and interested parties can find out more about these new offerings on TIFINGive.com. TIFIN Give continues to innovate, ensuring its platform is equipped with solutions that nurture charitable giving both effectively and efficiently.

This latest launch by TIFIN not only signifies a response to the unique needs of wealthy clients but also reflects a broader commitment to making philanthropy simple, accessible, and impactful across various sectors. As the landscape of wealth distribution evolves, TIFIN is at the forefront of maximizing the potential impact of philanthropic engagements.