By the numbers
When was TIAA Charitable Established?
2015
T/F
DAFs make it easy to involve kids/ grandkids in philanthropic giving?
True
How?
What tool can you use to see how someone's giving power is increased through the use of a DAF?
The Giving Power Tool
Located within the TIAA Charitable Website/ KE
What types of assets can a DAF accept?
Cash, securities, C & S corp stock, patent royalties, life insurance, real estate, collectibles and art, grants from another DAF
Which charitable product pays a beneficiary income for their lifetime, following their gift of cash, securities, or other assets?
These payments remain fixed, whereas a portion of each payment is taxable.
Charitable Gift Annuity
What % of our clients are charitable? (Closest without going over)
93%
T/F
Clients can take a tax deduction for their gifts to a DAF in the year contributed, regardless of the year the funds are distributed to charity.
True
What type of tax implication may occur from a DAF to DAF transfer?
none.
How does a DAF help donors simplify record keeping?
1 annual statement that lists all contributions received throughout the year as well as all information regarding grants that were sent out.
What charitable vehicle is an irrevocable trust that pays you or another person for a period, after which the trust property is distributed to a charity?
Charitable Remainder Trust (CRTs)
Can the client make additional contributions to a CRT?
Are payments to non-charitable beneficiaries taxed?
What % of IAS clients would willing to discuss giving with their advisor? (closest without going over)
56%
T/F
Gifts to DAFs are irrevocable.
True
At this point, the Donor has given their money to a charity.
What % deduction can a client take after gifting securities to a DAF?
30% of AGI
What is the initial account minimum?
For clients? For employees?
Clients= $5,000
Employees= $1,000
What is the name of an irrevocable trust that pays a charitable beneficiary for a time period after which the trust property is distributed to you (the donor) or non-charity beneficiary?
Charitable Lead Trusts
How many investment options are available in our DAF?
19
5 Broad
5 Social
9 Flex (combo)
T/F
Similar to private foundations, DAFs have a initial setup fee.
False
What % of AGI can a client deduct on cash gifts?
60%
What is the minimum grant recommendation amount?
$50
Which charitable vehicle allows you to act as both a donor and advisor?
This product allows you to make contributions to your fund and advise the sponsoring public charity on how to invest these contributions. When you are ready to draw on this account and wish to give to your favorite organization, you advise the sponsoring public charity to issue your grant.
Donor-advised funds.
What is TIAA Charitable's current AUA? (Assets under administration)
$100MM As of 12.31.2018
T/F
Clients can complete a QCD (Qualified Charitable Distribution) to a DAF?
False
DAILY DOUBLE
How long can a client carry over tax deductions after making a substantial gift?
5 years
What is the term for utilizing this strategy?
When must a donor begin making grants to a charity?
Never
T/F
Private foundations must make grants annually
Wealthy individuals (NW of $5MM+) whom plan to donate substantial assets through the use of a federal tax-exempt organization created and operated exclusively for charitable, educational, scientific or similar purposes would chose this product.
Private Foundation