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69-506: NPT specializes in offering donor-advised funds . They also offer charitable giving vehicles and platforms such as fiscal sponsorships , Type 1 supporting organizations , designated funds, and field-of-interest funds. NPT was founded out of a family office in 1996 in Jenkintown , Pennsylvania. In 2000, they began partnering with financial institutions to provide donor-advised funds to institutional clients. Contributions from donors broke

138-923: A private foundation . NPT currently facilitates several supporting organizations, including the Saint Agatha Foundation. Designated funds are established to support specific charities. NPT offers designated funds for individual, corporate or foundation donors who wish to make a single charitable gift or recurring gifts to one specific charity. NPT maintains an in-house philanthropic services team who can offer donors guidance for their philanthropic goals. This team may conduct research on geographic areas and specific issues in which donors are interested, or may assist donors with organizing site visits to grantee organizations. The Philanthropic Services team may partner with NPT's in-house legal team to establish grantmaking agreements so donors can stipulate naming rights or grantmaking provisions. For donor requests outside

207-545: A safe harbor for the "substantial part" test, the United States Congress enacted §501(h), called the Conable election after its author, Representative Barber Conable . The section establishes limits based on operating budget that a charity can use to determine if it meets the substantial test. This changes the prohibition against direct intervention in partisan contests only for lobbying. The organization

276-433: A "sunset" on donor-advised funds, after which they collapse individual funds into their general charity pool. Because a public charity houses the fund, donors receive the maximum tax deduction available, while avoiding excise taxes and other restrictions imposed on private foundations. Further, donors avoid the cost of establishing and administering a private foundation, including staffing and legal fees. The donor receives

345-431: A 2.5–4% of assets overhead expense to maintain, a 1–2% excise tax on NET investment earnings and a required 5% spending of assets each year) but may also have one more drawback: a limited lifetime, although this varies depending on the sponsor. American Endowment Foundation for example allows successor advisors in perpetuity. While a foundation can persist for generations or in perpetuity, some sponsoring organizations impose

414-509: A candidate in some manner, or (c) favor a candidate or group of candidates, constitute prohibited participation or intervention. Since section 501(c)(3)'s political-activity prohibition was enacted, "commentators and litigants have challenged the provision on numerous constitutional grounds", such as freedom of speech , vagueness , and equal protection and selective prosecution. Historically, Supreme Court decisions, such as Regan v. Taxation with Representation of Washington , suggested that

483-595: A choice between two sets of rules establishing an upper bound for their lobbying activities. Section 501(c)(3) organizations risk loss of their tax-exempt status if these rules are violated. An organization that loses its 501(c)(3) status due to being engaged in political activities cannot subsequently qualify for 501(c)(3) status. Churches must meet specific requirements to obtain and maintain tax-exempt status; these are outlined in "IRS Publication 1828: Tax Guide for Churches and Religious Organizations". This guide outlines activities allowed and not allowed by churches under

552-544: A church's principal means of accomplishing its religious purposes must be to assemble regularly a group of individuals related by common worship and faith." The United States Tax Court has stated that, while a church can certainly broadcast its religious services by radio, radio broadcasts themselves do not constitute a congregation unless there is a group of people physically attending those religious services. A church can conduct worship services in various specific locations rather than in one official location. A church may have

621-641: A donor contributing cash or assets to a public charity, which in turn creates a separate account for the donor, who may recommend disbursements from the fund to other public charities. Technically, the charity that sponsors the fund has the final say on the disbursements, and it is legally required to ensure they go only to charitable purposes, but in normal circumstances the original donor's requests will be followed. Since 2010, some donor-advised funds have become less like traditional foundations. The simultaneous growth of DAFs and online giving has led to funds like CharityBox, that are run by start-up companies through

690-408: A donor-advised fund has higher deductions for these gifts (depending on the gift). In addition, the founders or board of a private foundation have complete control over where its giving goes within broad legal bounds. In a donor-advised fund, the donor only advises the sponsoring organization where the money should go. While rare (perhaps unheard of?), a sponsoring organization could conceivably ignore

759-481: A final 501(c)(3) organization . Donor-advised funds provide a flexible way for donors to pass money through to charities—an alternative to direct giving or creating a private foundation . Donors enjoy administrative convenience (the sponsoring organization does the paperwork after the initial donation), cost savings (a foundation requires around 2.5% to 4% of its assets each year to run), and tax advantages (versus individual giving) by conducting their grantmaking through

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828-411: A foreign subsidiary to facilitate charitable work in a foreign country, then donors' contributions to the 501(c)(3) organization are tax-deductible even if intended to fund the foreign charitable activities. If a foreign organization sets up a 501(c)(3) organization for the sole purpose of raising funds for the foreign organization, and the 501(c)(3) organization sends substantially all contributions to

897-486: A global mission, or U.S.-based intermediary charities that fund overseas charities. Donors may also recommend grants directly to a charitable organization outside the United States through an NPT donor-advised fund. NPT assesses the tax-deductibility of these charities in its due diligence by using Equivalency Determination or Expenditure Responsibility. NPT Transatlantic is an international affiliate of NPT based in

966-418: A legacy plan by appointing joint advisors, naming charitable beneficiaries, or funding an endowment. NPT also offers foundation-advised funds and corporate-advised funds to support collaborative funding projects championed by institutional donors. A fiscal sponsorship is a collaborative relationship in which a charitable project partners with a public charity to receive tax-deductible donations and access to

1035-444: A limited amount of lobbying to influence legislation. Although the law states that "no substantial part" of a public charity's activities can go to lobbying, charities with large budgets may lawfully expend a million dollars (under the "expenditure" test) or more (under the "substantial part" test) per year on lobbying. The Internal Revenue Service has never defined the term "substantial part" with respect to lobbying. To establish

1104-783: A manner consistent with a particular religion's religious beliefs does not qualify as a tax-exempt church. Organizations described in section 501(c)(3) are prohibited from conducting political campaign activities to intervene in elections to public office. The Internal Revenue Service website elaborates on this prohibition: Under the Internal Revenue Code, all section 501(c)(3) organizations are absolutely prohibited from directly or indirectly participating in, or intervening in, any political campaign on behalf of (or in opposition to) any candidate for elective public office. Contributions to political campaign funds or public statements of position (verbal or written) made on behalf of

1173-463: A network of support. NPT's fiscal sponsorship offering is designed to provide legal and fiduciary oversight and mitigate the risk involved in launching a new charitable project. Type 1 supporting organizations offer similar tax advantages to donor-advised funds. Supporting organizations are a popular choice for philanthropists who want more control over grantmaking and investments than a donor-advised fund, but less expense and administrative burden than

1242-467: A non-partisan manner do not constitute prohibited political campaign activity. In addition, other activities intended to encourage people to participate in the electoral process, such as voter registration and get-out-the-vote drives, would not be prohibited political campaign activity if conducted in a non-partisan manner. On the other hand, voter education or registration activities with evidence of bias that (a) favor one candidate over another, (b) oppose

1311-442: A significant number of people associate themselves with the church on a regular basis, even if the church does not have a traditional established list of individual members. In order to qualify as a tax-exempt church, church activities must be a significant part of the organization's operations. An organization whose operations include a substantial nonexempt commercial purposes, such as operating restaurants and grocery stores in

1380-423: A significant portion of a church school's curriculum is religious education. For a payment to be a tax-deductible charitable contribution, it must be a voluntary transfer of money or other property with no expectation of procuring financial benefit equal to the transfer amount. Before donating to a 501(c)(3) organization, a donor can consult the searchable online IRS list of charitable organizations to verify that

1449-432: A tax deduction on a charitable gift to a 501(c)(3) organization that is organized and operated exclusively for religious, charitable, scientific, literary or educational purposes, or to foster national or international amateur sports competition (but only if no part of its activities involve the provision of athletic facilities or equipment), or for the prevention of cruelty to children or animals. An individual may not take

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1518-440: A tax deduction on gifts made to a 501(c)(3) organization that is organized and operated exclusively for the testing for public safety. In the case of tuition fees paid to a private 501(c)(3) school or a church school, the payments are not tax-deductible charitable contributions because they are payments for services rendered to the payee or the payee's children. The payments are not tax-deductible charitable contributions even if

1587-428: A web/mobile platform. Such companies allow donors to give directly to 501(c)(3) organizations and instantly receive tax-deductible receipts via email. The New York Community Trust pioneered donor-advised funds in 1931, and the second such fund was created in 1935. Since then, commercial sponsors, educational institutions, and independent charities have started offering the service. As of 2015 , donor-advised funds were

1656-400: Is a benefit to the donor for contributing appreciated securities rather than cash, as illustrated in this example taken from Vanguard 's marketing material for their plan. Suppose one has 1,000 shares of stock that was purchased 15 years ago (which qualifies as long term capital gains under U.S. tax law). Assume the stock was acquired for $ 10 per share and it is now worth $ 100 per share. Here

1725-439: Is a charitable giving vehicle administered by a public charity created to manage charitable donations on behalf of organizations, families, or individuals. To participate in a donor-advised fund, a donating individual or organization opens an account in the fund and deposits cash, securities, or other financial instruments. They surrender ownership of anything they put in the fund, but retain advisory privileges over how their account

1794-480: Is a comparison of the cost to the donor of making a contribution of $ 100,000 to a charity, assuming a 35% income tax rate and 15% long term capital gains tax rate. Option 1: Contribute cash from sale of securities Charity receives $ 100,000 for a net cost to donor of $ 78,500 Option 2: Contribute appreciated securities Charity receives $ 100,000 for a net cost to donor of $ 65,000 Thus, by donating appreciated securities rather than selling them, one can contribute

1863-557: Is a searchable database of information about organizations over time. WikiCharities, is a nonprofit database of nonprofits and charities by name, location, and topic, that allows each organization to report its financials, leadership, contacts, and other activities. Section 501(c)(3) organizations are prohibited from supporting political candidates, as a result of the Johnson Amendment enacted in 1954. Section 501(c)(3) organizations are subject to limits on lobbying , having

1932-434: Is allowed to award grants to foreign charitable organizations if the grants are intended for charitable purposes and the grant funds are subject to the 501(c)(3) organization's control. Additional procedures are required of 501(c)(3) organizations that are private foundations . Donors' contributions to a 501(c)(3) organization are tax-deductible only if the contribution is for the use of the 501(c)(3) organization, and that

2001-800: Is an actual controversy regarding a determination or the Internal Revenue Service has failed to make a determination. In these cases, the United States Tax Court , the United States District Court for the District of Columbia , and the United States Court of Federal Claims have concurrent jurisdiction to issue a declaratory judgment of the organization's qualification if the organization has exhausted administrative remedies with

2070-399: Is invested, and how it distributes money to charities. A donor-advised fund is an account at a sponsoring organization, generally a public charity, where an individual can make a charitable gift to enjoy an immediate tax benefit and retain advisory privileges to disburse charitable gifts over time. The contribution a donor makes to their donor-advised fund is 100% irrevocable and destined for

2139-478: Is not required to be made available to the public, unless the organization is an independent foundation. Churches are generally exempt from this reporting requirement. Every 501(c)(2) organization must make available for public inspection its application for tax-exemption, including its Form 1023 or Form 1023-EZ and any attachments, supporting documents, and follow-up correspondence with the Internal Revenue Service. The same public inspection requirement applies to

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2208-492: Is now presumed in compliance with the substantiality test if they work within the limits. The Conable election requires a charity to file a declaration with the IRS and file a functional distribution of funds spreadsheet with their Form 990. IRS form 5768 is required to make the Conable election. A 501(c)(3) organization is allowed to conduct some or all of its charitable activities outside the United States. A 501(c)(3) organization

2277-406: Is reduced to $ 400. There are some classes of organizations that automatically are treated as tax exempt under 501(c)(3), without the need to file Form 1023: The IRS released a software tool called Cyber Assistant in 2013, which was succeeded by Form 1023-EZ in 2014. There is an alternative way for an organization to obtain status if an organization has applied for a determination and either there

2346-467: Is that the organization is specifically limited in powers to purposes that the IRS classifies as tax-exempt purposes. Unlike for-profit corporations that benefit from broad and general purposes, non-profit organizations need to be limited in powers to function with tax-exempt status, but a non-profit corporation is by default not limited in powers until it specifically limits itself in the articles of incorporation or nonprofit corporate bylaws. This limiting of

2415-547: The $ 1 billion mark in 2005. In 2011, NPT began accepting contributions of illiquid assets like closely held stock, real estate, hedge fund interest, and more. NPT launched their first global affiliate in 2013. In 2016, NPT launched "A History of Modern Philanthropy", a digital resource dedicated to charting the different forms philanthropy has taken over the past five hundred years. The site explores charitable giving through an interactive timeline that shows how philanthropy has evolved globally. It highlights two hundred key moments in

2484-434: The 14-point list is a guideline; it is not intended to be all-encompassing, and other facts and circumstances may be relevant factors. Although there is no definitive definition of a church for Internal Revenue Code purposes, in 1986 the United States Tax Court said that "A church is a coherent group of individuals and families that join together to accomplish the religious purposes of mutually held beliefs. In other words,

2553-502: The 501(c)(3) designation. In 1980, the United States District Court for the District of Columbia recognized a 14-part test in determining whether a religious organization is considered a church for the purposes of the Internal Revenue Code: Having an established congregation served by an organized ministry is of central importance. Points 4, 6, 8, 11, 12, and 13 are also especially important. Nevertheless,

2622-405: The 501(c)(3) organization is not merely serving as an agent or conduit of a foreign charitable organization. The 501(c)(3) organization's management should review the grant application from the foreign organization, decide whether to award the grant based on the intended use of the funds, and require continuous oversight based on the use of funds. If the donor imposes a restriction or earmark that

2691-548: The Court, if it were to squarely examine the political-activity prohibition of § 501(c)(3), would uphold it against a constitutional challenge. However, some have suggested that a successful challenge to the political activities prohibition of Section 501(c)(3) might be more plausible in light of Citizens United v. FEC . In contrast to the prohibition on political campaign interventions by all section 501(c)(3) organizations, public charities (but not private foundations) may conduct

2760-432: The Internal Revenue Service. Prior to October 9, 1969, nonprofit organizations could declare themselves to be tax-exempt under Section 501(c)(3) without first obtaining Internal Revenue Service recognition by filing Form 1023 and receiving a determination letter. A nonprofit organization that did so prior to that date could still be subject to challenge of its status by the Internal Revenue Service. Individuals may take

2829-566: The UK that offers donor-advised funds and several other philanthropic services. NPT Transatlantic is a UK/US dual qualified charitable structure and offers dual US/UK taxpayers the ability to claim Gift Aid in the UK, claim UK tax relief and receive a US tax deduction. They also offer advanced grantmaking services, legacy gifts/bequests, and single gifts. NPT UK is an independent UK registered charity providing donor-advised funds and other philanthropic vehicles to donors who wish to base their grantmaking in

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2898-486: The UK. NPT UK offers global grantmaking services to qualified charities outside the UK. NPT publishes the Donor-Advised Fund Report (DAF Report), an annual industry report consisting of comprehensive data on donor-advised funds in the United States. NPT began tracking data on donor-advised funds in 2007, using filings from all charities that complete the IRS 990. The report is an analysis of trends in

2967-638: The United States are heavily regulated by the Internal Revenue Service , including rules on oversight and minimum annual payouts, donor-advised funds housed in public charities are not subject to the same tax restrictions. In 1985, National Foundation, Inc. (NFI, now WaterStone) defended its standard for the management of donor-advised funds against the Internal Revenue Service in the United States tax court in National Foundation, Inc. v. United States . The court found that NFI

3036-415: The assets and donating cash. By donating appreciated assets to a donor-advised fund and then advising the fund to make donations to several charities, one can reap these tax advantages without the hassle and paperwork of transferring non-cash assets to several organizations. This combination of convenience and full tax advantage is one reason that donor-advised funds are used. While private foundations in

3105-405: The contribution must be used for foreign activities, then the contribution is deemed to be for the foreign organization rather than the 501(c)(3) organization, and the contribution is not tax-deductible. The purpose of the grant to the foreign organization cannot include endorsing or opposing political candidates for elected office in any country. If a 501(c)(3) organization sets up and controls

3174-575: The data. Key metrics include the number of individual donor-advised funds in the U.S., total dollars granted from them, total contributions to them and total charitable assets in them. As of 2018, NPT's annual DAF Report also includes a brief analysis of the types of assets being contributed to donor-advised funds. In addition, the DAF Report also includes data on the total amount of grants recommended by philanthropists from donor-advised funds each year. The annual report includes projections in trends for

3243-763: The donor fund is invested in. 501(c)(3) organization A 501(c)(3) organization is a United States corporation, trust , unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code . It is one of the 29 types of 501(c) nonprofit organizations in the US. 501(c)(3) tax-exemptions apply to entities that are organized and operated exclusively for religious , charitable , scientific , literary or educational purposes, for testing for public safety , to foster national or international amateur sports competition, or for

3312-435: The donor's intent. In addition, most donor-advised funds can solely give to IRS certified 501(c)(3) organizations or their foreign equivalents. This rules out, for example, most kinds of donations to individuals, and scholarships—both things a private foundation can do more easily. As well, it precludes political donations, lobbying organizations, etc. Donor-advised funds do reap a significant cost advantage (foundations carry

3381-592: The door for many other providers to launch donor-advised fund programs. On August 17, 2006, President George W. Bush signed the Pension Protection Act of 2006 (H.R. 4) into law, which includes a number of changes to the regulatory framework for donor-advised funds. The Pension Protection Act of 2006 established guidelines for the management of donor-advised funds, using NFI's standards as a framework. The sections dealing with donor-advised funds include: Under United States federal income tax law, there

3450-432: The fastest growing charitable giving vehicle in the U.S. —more than 269,000 donor-advised accounts held over $ 78 billion in assets. Current U.S. tax law allows the donor of appreciated securities or other assets to get a tax deduction for the market value of the donation and avoid capital gains taxes. This double tax advantage can make donating appreciated assets to a charitable organization more attractive than selling

3519-425: The fund. On average, the conversion time for a contribution to a donor-advised fund to a grant from the donor-advised fund, is approximately 24 months. A donor-advised fund has some disadvantages compared to a private foundation, and some advantages. Both can accept donations of unusual or illiquid assets (e.g., part ownership of a private company, art, real estate, partnerships or limited partnership shares), but

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3588-844: The future. Eileen R. Heisman, ACFRE, is the President and CEO of National Philanthropic Trust. Ms. Heisman received a B.S. with honors in Psychology from Carnegie Mellon University and a Master's of Social Work from the University of Michigan. John Canady is CEO of National Philanthropic Trust UK. Canady previously served as the Executive Director of Philanthropy at Charities Aid Foundation in London, where he worked with individual, family, and corporate donors to structure their philanthropic activities through donor-advised funds. He

3657-405: The grantee's tax-exempt status. Drexel University environmental sociologist Robert Brulle , who has studied networks of nonprofit funding, described donor-advised funds: In this type of foundation, individuals or other foundations contribute money to the donor directed foundation, and it then makes grants based on the stated preferences of the original contributor. This process ensures that

3726-411: The history of charitable giving. Since its founding in 1996, NPT has raised nearly $ 13 billion in charitable contributions. It currently manages $ 7.4 billion in charitable assets. NPT has made more than 250,000 grants totaling nearly $ 6 billion to charities all over the world. In 2018, NPT's donors recommended 40,690 grants in 32 countries across the globe totaling $ 1.01 billion (up 27% from 2017). 2018

3795-426: The intent of the contributor is met while also hiding that contributor's identity. Because contributions to a donor directed foundation are not required to be made public, their existence provides a way for individuals or corporations to make anonymous contributions. Whitney Ball, co-founder and executive director of the donor-advised fund Donors Trust , described donor-advised funds: A donor-advised fund begins with

3864-491: The maximum tax deduction at the time they donate to their account, and the organization that administers the fund gains full control over the contribution, granting the donor advisory status. As such, the administrating fund is not legally bound to the donor, but makes grants to other public charities on the donor's recommendation . Most foundations that offer donor-advised funds only make grants from these funds to other public charities, and usually perform due diligence to verify

3933-515: The organization in favor of or in opposition to any candidate for public office clearly violate the prohibition against political campaign activity. Violating this prohibition may result in denial or revocation of tax-exempt status and the imposition of certain excise taxes. Certain activities or expenditures may not be prohibited depending on the facts and circumstances. For example, certain voter education activities (including presenting public forums and publishing voter education guides) conducted in

4002-435: The organization qualifies to receive tax-deductible charitable contributions. Consumers may file IRS Form 13909, with documentation, to complain about inappropriate or fraudulent (i.e., fundraising, political campaigning, lobbying) activities by any 501(c)(3) organization. Most 501(c)(3) must disclose the names and addresses of certain large donors to the Internal Revenue Service on their annual returns, but this information

4071-840: The organization's annual return, namely its Form 990 , Form 990-EZ, Form 990-PF, Form 990-T, and Form 1065, including any attachments, supporting documents, and follow-up correspondence with the Internal Revenue Service, with the exception of the names and addresses of donors on Schedule B. Annual returns must be publicly available for a three-year period beginning with the due date of the return, including any extension of time for filing. The Internal Revenue Service provides information about specific 501(c)(3) organizations through its Tax Exempt Organization Search online. A private nonprofit organization, GuideStar , provides information on 501(c)(3) organizations. ProPublica's Nonprofit Explorer provides copies of each organization's Form 990 and, for some organizations, audited financial statements. Open990

4140-409: The powers is crucial to obtaining tax exempt status with the IRS and then on the state level. Organizations acquire 501(c)(3) tax exemption by filing IRS Form 1023 . As of 2006 , the form must be accompanied by an $ 850 filing fee if the yearly gross receipts for the organization are expected to average $ 10,000 or more. If yearly gross receipts are expected to average less than $ 10,000, the filing fee

4209-676: The prevention of cruelty to children or animals . 501(c)(3) exemption applies also for any non-incorporated community chest , fund, cooperating association or foundation organized and operated exclusively for those purposes. There are also supporting organizations—often referred to in shorthand form as "Friends of" organizations. 26 U.S.C.   § 170 provides a deduction for federal income tax purposes, for some donors who make charitable contributions to most types of 501(c)(3) organizations, among others. Regulations specify which such deductions must be verifiable to be allowed (e.g., receipts for donations of $ 250 or more). Due to

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4278-443: The receiving party did not comply with the five standards of a charitable organization , identified by the court: 1) that it be consistent with the charitable purposes specified in section 501(c)(3); (2) that it has a reasonable budget; (3) that it be adequately funded; (4) that it be staffed by competent and well-trained personnel; and (5) that it be capable of effective monitoring and supervision by NFI. The outcome of this case opened

4347-427: The same total amount with reduced effective donor cost. This is true whether or not one uses a donor-advised fund. If the securities increase in value after they have been given to the donor-advised fund (but before the grant recommendation is actually made), no additional tax deduction can be claimed by the taxpayer. On the other hand, if the securities decrease in value, the taxpayer's original tax deduction (based on

4416-582: The scope of this team's expertise, the Philanthropic Services team may reach out to the Philanthropic Advisory Network, a national partner network of vetted philanthropic advisors trained to assist donors in conducting effective grantmaking. For donors who wish to make grants to charities based abroad, NPT offers several options for international philanthropy. Donors may recommend grants to U.S. based charities with

4485-503: The tax deductions associated with donations, loss of 501(c)(3) status can be highly challenging if not fatal to a charity's continued operation, as many foundations and corporate matching funds do not grant funds to a charity without such status, and individual donors often do not donate to such a charity due to the unavailability of tax deduction for contributions. The two exempt classifications of 501(c)(3) organizations are as follows: The basic requirement of obtaining tax-exempt status

4554-425: The value of the securities when given to the donor-advised fund) remains valid. Even though the tax efficiency is the same, there are differences between giving directly to a charity and giving via a donor-advised fund. However, there is a cost to donor-advised funds. Most donor-advised funds charge an administrative fee (e.g., 1% per year). This is in addition to management fees that, for example, any mutual funds

4623-577: Was awarded the Philanthropy Advisor of the Year at the Spear's Wealth Management Awards in 2018. Canady has a B.S. from Wake Forest University, an International MBA from the University of South Carolina and a master's in public administration from Harvard Kennedy School. He is a dual US/UK citizen. Donor-advised fund In the United States, a donor-advised fund (commonly called a DAF )

4692-445: Was eligible for tax-exemption and could be classified as a 501(c)(3) non-profit organization based on their management of donor-advised funds. NFI had complete control and ownership of what would later be called donor-advised funds, and could exercise discretion in authorizing charitable distributions of the funds. Donors maintained advisory privileges, but NFI was not obligated to use the funds based on their recommendations, especially if

4761-966: Was the first time that NPT's grantmaking exceeded $ 1 billion in a single year. NPT offers a broad suite of charitable vehicle offerings and philanthropic support services. A donor-advised fund (DAF) is a giving vehicle administered by a public charity. Donor-advised funds allow donors to make charitable contributions and receive the maximum tax deduction available. NPT's DAFs can accept a wide range of assets including cash, publicly traded securities, tangible personal property, closely held stock, and cryptocurrency. NPT offers donors investment options in which they can allocate their DAF investments. NPT's impact investment offerings include six exchange-traded funds (ETFs) focused on generating positive environmental, social, and corporate governance (ESG) returns, in areas such as low carbon emissions and global education. Donors can make international grants and other specialized grants through their NPT DAFs. A donor can set up

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