Friends Fiduciary Corporation offers coordinated gift administration, custody of assets and investment management, guided by Friends Fiduciary’s socially responsible investment guidelines, for charitable gift annuities and remainder trusts
Calculations can be provided to assist donors, illustrating the benefits of a charitable gift annuity or trust (or a comparison of both). FFC can accept cash or publicly-traded securities to establish a planned gift. If a donor has a gift of real estate or other assets, FFC has partnered with Mennonite Foundation who can work with the donor.
FFC can help you build your planned giving program by freeing you from the burden of complex administration and allowing you to concentrate on identifying and cultivating donors. We currently service two types of gift vehicles: charitable gift annuities and charitable remainder trusts.
As the issuer of the annuity FFC bears the responsibility for:
1. All future annuity payments
2. Donor’s tax benefit calculations
3. Administration of the annuity contract
4. Preparation and distribution of all annuity payments
5. Annual calculation of the required reserves
6. Investment of the gift
7. Registration in all required states
8. Annual reports in all required states
9. Termination calculations and payout of the remainder upon the death of the annuitant
Our program offers an additional benefit to donors who wish to set up annuities to benefit more than one Meeting or Quaker organization. Depending on the size of the gift, a donor may set up one annuity to benefit these charities, rather than repeating the process for each.
As trustee for the charitable remainder trust FFC bears the responsibility for:
1. Preparation and distribution of all future income payments
2. Preparation of the required trust tax filings
3. Investment of the trust
4. Payout of the remainder upon the death of the income beneficiaries
Charitable Gift Annuities carry no direct fees for donors or organizations. The charitable gift annuity asset pool is charged an annual fee of 1.4%. In addition, investment management, bank custodial and administration expenses are also deducted directly from the asset pool. Total fees average less than 2% on an annual basis. A separate fee schedule is available for Charitable Remainder Trusts.
Donors, either directly or through a development office can use the Charitable Gift Annuity Agreement Form (PDF) to establish a CGA through Friends Fiduciary. If appreciated securities are being used for the CGA, please contact Melissa Stoner in the FFC office for transfer instructions. If your donor is interested in a Charitable Trust and/or has assets other than cash or securities to set up a planned gift please contact us.
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