The Charitable Checking Fund is a donor advised fund within The Troy Foundation created solely as a service for donors to make charitable giving more convenient.
Your gift of $500 or more to The Troy Foundation’s Charitable Checking Fund, establishes your charitable giving account and enables you to support your favorite charities. The Charitable Checking Fund will distribute your grants to IRS approved charities in Troy or anywhere in the United States. The Troy Foundation’s written acknowledgement of your gift to your Fund is the only receipt you will need at tax time. The Troy Foundation will provide you with a statement of your fund’s activities, simplifying your tax reporting.
The Charitable Checking Fund lets you make distribution recommendations to ensure that grants from your account benefit the charities of your choice. Grants from your account may be made at any time by submitting a Distribution Form to The Troy Foundation. Grants may be made in your name or anonymously.
You may donate cash or securities to fund your Charitable Checking Fund. Contributions may be made so they are most advantageous to you from a tax standpoint.
Grants can be made immediately or throughout the year and no minimum balance is required. You may distribute part or the entire balance of your Charitable Checking Fund.
The Troy Foundation is a tax-exempt public charity and gifts to the Charitable Checking Fund qualify for maximum charitable tax deductions.
Gifts of appreciated securities will receive the full fair market value as your charitable tax deduction. If you donate highly appreciated securities, the Charitable Checking Fund will sell them, and not only will you avoid capital gains taxes, but you will also maximize the benefit to your selected charities.
You may contribute to your Charitable Checking Fund in peak earning and tax years for the greatest tax benefit. This allows you the convenience of making distributions to the ongoing needs of the charities you wish to support either immediately or at a later time when your cash flow situation may not be as favorable.
Service at No Charge
There is no fee to establish or maintain your Charitable Checking Fund. The only charge an account might incur is the cost (e.g. commissions) of selling appreciated securities. The amount available for distribution to charity is reduced accordingly.
To learn more about our Charitable Checking Fund service, call The Troy Foundation office at (937) 339-8935 or email firstname.lastname@example.org.