Frequenty Asked Questions

Set Up a Giving Account®

Contributions to the Gift Fund Giving Account

Tax Deductions

Grant Recommendations

Investment Options

Miscellaneous



Set Up a Giving Account®

How do I set up a Giving Account?

To set up a Giving Account, simply complete a Donor Application and submit it along with your contribution to the Gift Fund (minimum initial contribution of $5,000 for individual Giving Accounts and $25,000 for corporate Giving Accounts) in cash equivalents, securities, or select real estate. You can get started right now:

What should I read before setting up a Giving Account and making a charitable contribution?

Read the Gift Fund Policy Guidelines (PDF). You will be required to agree to these policies upon signing the Donor Application.

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Contributions to the Gift Fund Giving Account

Does the Gift Fund require specific contribution amounts?

Individuals may set up a Giving Account with a minimum initial contribution to the Gift Fund of $5,000, and corporations may set up a Giving Account with a minimum initial contribution to the Gift Fund of $25,000.

What happens when the Gift Fund receives my contribution?

When a contribution is received and accepted, the Gift Fund will allocate the proceeds of the contribution to your Giving Account, and will purchase units of each investment pool recommended for the Giving Account. Units will be purchased on the business day (each day that the New York Stock Exchange is open for business) the Gift Fund receives cash or the proceeds from the sale of the contributed assets.

Will the Gift Fund send me a receipt for my contribution?

Yes, the Gift Fund will provide written confirmation of your contribution. This confirmation will serve as your receipt for tax purposes. If you make your contribution online, you will receive an email notice immediately confirming the Gift Fund's receipt of your request and a second email notice once the transaction (sale of the contributed asset) has settled. Please note since you become eligible for a tax deduction at the time you make your contribution to the Gift Fund, any other receipts or acknowledgements you may receive (e.g., from a public charity to which you recommended a grant) are duplicative and cannot be used for tax purposes.

How often may I contribute to the Gift Fund?

As often as you would like. Some donors like to make additional contributions to the Gift Fund immediately after recommending grants. Others make regular contributions to build up the Giving Account for future grantmaking. The flexibility of the Gift Fund lets you determine your giving timetable.

Are additional contributions to the Gift Fund tax-deductible?

Yes. You will be eligible to take an itemized income tax deduction for a charitable contribution on the date the contribution is made to the Gift Fund. This is subject to the deductibility limitations set by law. Please consult your legal or tax advisor to review your personal situation. You will receive a consolidated statement of your annual contributions and granting activity at the end of each calendar year. Please note that since you become eligible for a tax deduction at the time you make your contribution to the Gift Fund, any other receipts or acknowledgements you may receive (e.g., from a public charity to which you recommended a grant) are duplicative and cannot be used for tax purposes. Grant recommendations made to individual charities, though they may be acknowledged by the charity, are not eligible for additional tax deductions by you.

What types of assets can I contribute to the Gift Fund?

Cash equivalents, publicly traded stock, mutual fund shares, bonds, certain private or restricted stock and select real estate are eligible for contribution to the Gift Fund. We will be glad to discuss proposed contributions with you. To contribute assets held outside of Fidelity, you can begin online by logging in through the
Giving Account log in page or by downloading a Contribution Form (PDF). You can also request these forms by calling the Gift Fund at 800-952-4438 for assistance. You can contribute assets held at Fidelity online by logging in through the Giving Account log in.

Can I contribute privately held company stock to the Gift Fund?

Contributions of privately held company stock are reviewed and accepted on a case-by-case basis. Please contact us at 800-952-4438 for assistance.

Can I contribute real estate to the Gift Fund?

Contributions of appreciated real estate are reviewed and accepted on a case-by-case basis. Please contact us at 800-952-4438 for assistance.

Would it be a good estate planning idea to leave my IRA, 401(k), or other retirement account to the Gift Fund?

You should always check with your own tax advisor or trusts and estates attorney because individual situations vary substantially. It is permissible to leave your IRA or other tax-deferred account to charity. At your death, the full value of the account will be included in your estate, but since it is being transferred to a charity, it will qualify for the unlimited charitable deduction.

With any employer-sponsored retirement plan (e.g., a 401(k)), there must be spousal consent to leave the balance of your retirement account to a charity. You also must bear in mind the minimum required distribution rules, the needs of your beneficiary, and your financial needs during your lifetime.

What about contributing from my retirement account now?

Again, it is important to speak with your tax advisor or attorney about your personal situation. In general, during your lifetime, whenever you take money out of your tax-deferred account (IRA, 401(k), 403(b), etc.), the distribution is considered income to you and is a taxable event. Therefore, you would have to pay the taxes due upon the value of the distributed assets and the remaining money would go to the charitable organization. However, there may be certain exceptions for "employer securities" (shares of an employer's stock, or "company stock") held in a 401(k) account. If you are interested in contributing this type of security, contact one of our representatives at 800-952-4438.

Can I give a variable annuity to the Gift Fund?

We can accept variable annuities that are nonqualified. However, most variable annuities ARE qualified, which means they are equal to pre-tax dollars. Therefore, the owner must create a taxable event (i.e., sell the variable annuity) before donating the money. At death, annuities bring up the same considerations as retirement plans, although there are no minimum required distribution rules to consider. (See previous two questions for more on contributing from a retirement account.) This is another instance in which it is important to consult with a tax advisor to evaluate your individual situation. This answer should not be construed as tax advice.

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Tax Deductions

The Gift Fund Policy Guidelines (PDF) are a good reference for detailed tax questions. This section addresses only federal taxes. Rules and regulations regarding tax deductions for charitable giving vary at the state level. In addition, certain additional rules or limitations may apply with respect to your tax treatment depending on your specific circumstances. Please consult with your tax advisor.

What does "immediate tax deductions" mean?

Gift Fund donors may be eligible to take an itemized deduction valued on the date their charitable contribution to the Gift Fund is made, subject to the general limitations described in "What are the limitations on charitable deductions?", below. Your deduction will depend, in part, on the type of asset that you contribute. Please check with your tax advisor. Deduction amounts follow:

  • Check/wire/Electronic Funds Transfer: Your deduction is generally the amount of your cash contribution.
  • Publicly traded securities: For publicly traded securities held for more than one year, your deduction generally will be the fair market value of the securities on the day of the contribution.
  • Securities that are not publicly traded: For securities not publicly traded that have been held for more than one year, your deduction will be the fair market value determined by you in a reasonable manner on the date the contribution is made. The IRS will require you to obtain a qualified independent appraisal in certain circumstances.
  • Real Estate: For contributions of real estate, your deduction will be the fair market value determined by you in a reasonable manner on the date the contribution is made. The IRS will require you to obtain a qualified independent appraisal in certain circumstances.

What are the limitations on charitable deductions?

Under the Internal Revenue Code, deductions for charitable contributions are subject to certain "percentage limitations" that limit the deductions that can be taken to a stated percentage of adjusted gross income ("AGI") in the year the deduction is taken. (Contributions in excess of these percentage limitations may be carried forward up to five subsequent years.) Because the Gift Fund is a public charity, the percentage limitations that apply are generally the most favorable charitable deductions available under IRS regulations.

  • Deductions for contributions of long-term capital gain property (such as appreciated securities held for more than one year) are limited to 30% of AGI.
  • Deductions for all other contributions (including contributions of cash) may be taken up to 50% of AGI.

Your ability to take itemized deductions may be subject to certain other limitations. Please contact your tax advisor to determine your tax deductibility limits.

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Grant Recommendations

Can I make grant recommendations to foreign charities?

The Gift Fund does not grant directly to foreign charities. However, many foreign charities receive funding from U.S. public charities that support international causes. In certain circumstances, Gift Fund donors may make grant recommendations to benefit foreign charities through these existing U.S. public charities. Certain conditions, grant minimums, and fees may apply. If you are interested in supporting a particular foreign organization, we suggest you ask a representative of that organization to recommend a U.S.-based nonprofit that sends funds to the foreign group. In addition, there are many U.S. nonprofits that provide services in foreign countries. You can research your options in our online Charitable Planning area. All grants are subject to the Gift Fund's standard due diligence policies and procedures.

Is there a minimum grant amount? Are there other guidelines for grant recommendations?

The Trustees have set minimums on grant distributions to maintain cost-effectiveness and to encourage charitable giving. The minimum grant is $50. Grants must be made in $5 increments. For information on other grantmaking guidelines, please refer to the Gift Fund Policy Guidelines (PDF).

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Investment Options

How do the Gift Fund Trustees choose the funds included in the Gift Fund pools?

The Gift Fund Trustees have engaged Strategic Advisers, Inc. a Fidelity Investments company, to be the investment manager for the Gift Fund. The Trustees meet regularly with Strategic Advisers, Inc. to review our investment pools, and the underlying investment options, as well as the investment performance.

Do you offer any pools that draw exclusively on "socially responsible" investments?

No, at this point the Gift Fund does not offer such pools.

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Gift4GivingSM

What is a Gift4Giving eGift?

A Gift4Giving eGift is a unique charitable gift that a Gift Fund donor can send to a friend, family member or colleague, via email, which allows grant/gift recommendation privileges over a portion of his/her Giving Account. This is a great way to get others involved in charitable giving and to learn about donor-advised funds.

How does the program work?

After the donor requests a Gift4Giving eGift online from their Giving Account, the recipient then receives an email from the Gift Fund (with the name of the person who sent the Gift4Giving in the subject line of the email), containing a link to a web page that will give him/her the opportunity to recommend one or more gifts of $50 or more to support his/her favorite charities.

How do I request and/or send a Gift4Giving eGift?

A Gift Fund donor can follow the simple steps below to request that a Gift4Giving be sent.

  • Log in to your Giving Account and select Send a Gift4Giving from the Take an Action dropdown menu
  • Enter recipient email information and gift message
  • Select the Gift4Giving amount (minimum $50; maximum $5,000) and recommend the investment pools from which the Gift4Giving amount should be drawn
  • Review and submit your Gift4Giving request

Are there any fees to send a Gift4Giving eGift?

There are no fees associated with sending a Gift4Giving eGift.

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What happens if the recipient loses the Gift4Giving email?

The Gift Fund is not responsible for Gift4Giving emails that are misdirected, misplaced, lost, or stolen. If a Gift4Giving recipient deletes the email sent by the Gift Fund, he/she can ask the Gift Fund donor who gave the Gift4Giving to re-send the original email from the donor’s Giving Account. The Gift Fund donor can have the email re-sent by logging into his/her Giving Account at CharitableGift.org and going to the Gift4Giving Detail page.

How do I know if the recipient has recommended gifts to charity from his/her Gift4Giving?

Transaction information — including when the Gift4Giving email notification was sent by the Gift Fund, whether a gift has been recommended to a charitable organization or whether it has expired — is viewable in your Gift4Giving History.

Can I order a plastic "Gift Card"?

The Gift Fund sends electronic “gift cards”, distributed by email, rather than plastic “gift cards”, distributed by U.S. mail or in person, for two reasons. First, our electronic cards are delivered to the recipient quickly. Second, emails are environmentally friendly.

If I request a Gift4Giving eGift, will the email be sent to me or to the Gift4Giving recipient?

The Gift4Giving email will be sent directly to the recipient.

Can I have the Gift4Giving email sent to me instead of the recipient?

No. The Gift4Giving email sent by the Gift Fund may only go to the Gift4Giving recipient. The Gift Fund donor does have the ability to resend the Gift4Giving online from their Giving Account.

Does the Gift4Giving eGift expire?

A Gift4Giving eGift will expire 180 calendar days after the email is sent to the recipient. At expiration, Gift4Giving amounts that have not been recommended and granted to qualified public charities will be reallocated to the donor's Giving Account and will be invested according to the Giving Account's current allocation.

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What are the minimum and maximum amounts of a Gift4Giving eGift?

A Gift Fund donor may designate a minimum of $50, and up to the maximum of $5,000 (in increments of $50), from his/her Giving Account balance to a Gift4Giving recipient to be used towards a gift recommendation.

Can value be added to a Gift4Giving eGift?

No, once the original Gift4Giving balance has been depleted a new Gift4Giving eGift will need to be requested by the Donor and issued by the Gift Fund.

How do I (recipient) access a Gift4Giving eGift?

A Gift4Giving eGift recipient can follow the simple steps below to access a Gift4Giving and to recommend one or more gifts to charity.

Please note: A Gift4Giving eGift must be accessed online through the email that is sent to the Gift4Giving recipient from the Gift Fund.

  • Step1: Locate charities by name or tax ID, then select the charities to which you would like to recommend a gift
  • Step 2: Select the amount of your gift recommendation
  • Step 3: Chose to be acknowledged by the gift recipient charity or to remain anonymous
  • Step 4: Review and submit your gift recommendation

What charities can I choose to support?

Gifts can be made to 501(c)(3)IRS-qualified public charities found in the Gift Fund’s database of qualified gift recipient charities.

Do I receive a tax deduction when a gift is made by the Gift Fund to a public charity?

Gift4Giving recipients are not eligible for charitable deductions for these gifts, since the gift is made by the Gift Fund. Donors of the Gift Fund received a tax deduction at the time of their initial contribution to the Gift Fund.

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Miscellaneous

Are you a nonprofit organization? Where do staff salaries come from?

The Fidelity® Charitable Gift Fund is a tax-exempt nonprofit organization and public charity under Internal Revenue Code Section 501(c)(3). The administrative fee charged to all Giving Accounts goes toward the Gift Fund's operating expenses, which include staff salaries.

Do you have any statistics that show whether the Gift Fund is increasing the level of philanthropy in the U.S.?

While there is no way for us to track the amount that would have gone somewhere else had circumstances been different, we do know that as of March 31, 2010, the Fidelity® Charitable Gift Fund has helped donors grant more than $10 billion to more that 135,000 charitable organizations.

Will my company match my gift that I recommend out of a Giving Account?

Check with your employer to ascertain its policy on making matching gifts to grants recommended from donor-advised funds.

Why do nonprofits continue to solicit me even though I've already recommended a grant to them from the Gift Fund?

When you recommend grants to a nonprofit organization, your name may appear on the letter sent by the Gift Fund to accompany the grant check. Some charities will take your name from this letter and add you to their mailing lists. One way to avoid this is to recommend grants anonymously. Anonymity options are available whether you recommend grants online, by phone, or on paper.

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What is Electronic Funds Transfer?

Electronic Funds Transfer (EFT) is an easy, convenient, and secure way to contribute to the Gift Fund directly from your personal checking or savings account.

Is there a fee for EFT?

The Gift Fund does not charge a fee for using EFT; however, your bank may charge a fee.

What types of bank accounts are eligible for EFT?

For an individual Giving Account, the Gift Fund will accept contributions from your personal savings or checking accounts with any U.S. bank. Your Social Security Number should match the corresponding Social Security Number on your bank account.

For a Corporate Giving Account, the Gift Fund will accept contributions from a corporate account with any U.S. bank. The corporate bank account must be an account for which you are authorized to act on behalf of the corporate entity.

How do I set up EFT?

Log in to your Giving Account and go to your Profile section to enter your bank account information, or enter your bank account information during the Contribute to the Gift Fund process.

What bank information do I need to provide?

You will need to provide your bank account number and the bank’s nine-digit routing number (also known as the ABA number). This information is typically located at the bottom of your check or deposit slip.

Some banks use different numbers for their EFT service so you may want to verify with your bank.

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How long does it take to set up EFT?

It takes only a few minutes to complete the set up process. Our immediate funding option lets you set up EFT during the contribution process.

How do I make a contribution using EFT?

Log in to your Giving Account and select Contribute from the Take an Action dropdown menu. Electronic Funds Transfer will be one of the contribution options.

When will the funds be available for grant recommendations?

The funds are generally available in your Giving Account 3-6 business days after you initiate your contribution.

Are there restrictions on the amount of money that can be contributed via EFT?

The maximum amount is $100,000. Additional restrictions apply depending on your situation.

You will be provided with an explanation of these and other terms of use in the donor agreement and Electronic Funds Transfer Disclosures (PDF) during the EFT set up process.

Can other account holders on my Giving Account see my bank account information?

No. The detailed bank account information is only viewable by the account holder who enters it. The Contribution Detail page in the History section displays only the bank name.

Can I set up EFT over the phone?

No, donors can only set up EFT online.

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Can I set up EFT using a form?

No. At this time, donors can only set up EFT online.

Can other authorized parties, such as my financial advisor, use EFT established on my account?

No. EFT is only available for account holders.

Can I set up automatic recurring contributions from my bank account?

Yes. Log in to your Giving Account and select Contribute from the Take an Action dropdown menu. On the Select Contribution Type page, choose the Electronic Funds Transfer option, select a Bank Account (or Add a Bank Account) and enter Contribution Amount, then select Make this a recurring contribution and follow the instructions.

How frequently can I schedule a future recurring contribution?

Recurring contributions may be scheduled weekly, monthly, quarterly, semi-annually or annually.

Do I need to select a specific end date for recurring contributions?

No. You can choose to set up a recurring EFT that will continue until further notice (indefinitely).

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How are future recurring contributions allocated among the Gift Fund's investment pools?

The pool allocation selected or in place at the time the initial recurring contribution was set up will be in effect for each future contribution.

How do I change a pool allocation or modify the amount or timing/frequency for future recurring contributions?

To change the pool allocation, or to modify the amount or timing, of any recurring contributions, you will need to remove that recurrence and add a new one. Log in to your Giving Account, go to the Recent Contributions tab and select Remove from the RECURRING CONTRIBUTIONS FROM YOUR BANK ACCOUNT section. Same-day contributions on business days can be removed up until 4 pm ET.

If I remove a recurrence, will this affect my Bank Account Information on file?

No.

What will happen when I remove a bank from my Bank Account Information in the Profile tab?

Once a bank is removed, all subsequent recurrences linked from this bank account to your Giving Account will be removed as well.

How are recurring contributions processed when the Gift Fund is closed?

EFT contributions are processed prior to 4 pm ET on business days. If a recurring contribution date falls on a weekend, holiday, or beyond the end of the month (29th, 30th, 31st), the contribution will be processed on the next available business day.

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The Fidelity® Charitable Gift Fund ("Gift Fund") is an independent public charity with a donor-advised fund program. Various Fidelity companies provide investment management and administrative services to the Gift Fund.

Speak with a representative: 800-262-6039

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