About the Program

What is the tax identification number for the Program?

Who oversees all Program operations?

What are the responsibilities of the Program's Board of Directors?

What happens to a giving account when a donor-advisor is deceased?

Contributions

What is the minimum contribution?

May I make a gift of securities? What value is placed on my gift?

What fees are applicable to the sale of securities donated in kind to the Program for Charitable Giving?

Can I donate from my IRA to the Program for Charitable Giving now?

Can I leave assets in my IRA to the Program for Charitable Giving?

Why not contribute directly to the charity of my choice?

Is there a minimum account balance?

Grants

How do I support charities of my choice?

May I make a grant recommendation from my account as soon as it's established?

How long will it take for my recommendation to be considered?

If my grant recommendation is approved, how will I be recognized?

Why would a grant recommendation be turned down?

Am I required to distribute 5% from my donor-advised fund account each year?

Am I required to make a grant recommendation out of my giving account every year?

General Giving Fund

What is the General Giving Fund of The T. Rowe Price Program for Charitable Giving?

Why would I consider a gift to the General Giving Fund?

Investment pools

What investment options are available?

How do I find out how the investment pools are performing?

Fees

What are the fees associated with a donor-advised fund account?

For Charitable Recipients

How should our charity acknowledge grants from The T. Rowe Price Program for Charitable Giving?

Can our charity send a thank you letter to the donor-advisor who recommended the grant?

How can our charity be added to the eligible charity list?

Can grants be accepted by our charity for events and membership?

About the Program

Q:

What is the tax identification number for the Program?

A:

The employer/tax identification number is 31-1709466.

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Q:

Who oversees all Program operations?

A:

Click here to learn more about our Program's leadership.

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Q:

What are the responsibilities of the Program's Board of Directors?

A:

As a 501(c)(3) organization, the Program has a Board of Directors with ultimate authority over investment and grant decisions, including the right to approve grant recommendations and investment allocations.

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Q:

What happens to a giving account when a donor-advisor is deceased?

A:

Donor-advisors are encouraged to name successors and/or beneficiary organizations to their giving account to create a legacy of giving. Successors are individuals who will assume donor-advisor rights after the active donor-advisors are deceased. Charitable beneficiary organizations will receive the proceeds of a giving account after active donor-advisors are deceased.

If there is no successor or beneficiary named, the Program will consider the account to be orphaned and follow these procedures:

  1. If there is no granting history, then the balance of the giving account will be transferred to the Program’s General Giving Fund.
  2. If there is a granting history, the first consideration will be to make grants that reflect the donor-advisor’s past giving history, and with respect to deceased advisors, making grant awards in memory of such donor-advisors. If the previously supported organizations are no longer eligible, the balance of the fund will be transferred to the Program’s General Giving Fund.
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Contributions

Q:

What is the minimum contribution?

A:

The minimum initial contribution is $10,000. Subsequent donations can be for $500 or more.

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Q:

May I make a gift of securities? What value is placed on my gift?

A:

The Program accepts marketable securities, which are usually sold the next business day after receipt in the Program's account in good order. Two values apply:

  • The donation amount, which you report to the IRS, will be the average market value of the securities on the day the Program receives them in good order.
  • The proceeds amount, which is placed in your donor-advised fund account, equals the actual selling price of the securities minus brokerage and other fees associated with the sale. Due to market fluctuation, this value may be more or less than the donation amount.

We will report both values to you in writing. You may also call a Program service associate for this information.

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Q:

What fees are applicable to the sale of securities donated in kind to the Program for Charitable Giving?

A:

Security transactions related to Program donations are subject to commissions and all other applicable fees. For stocks sold through the Program's account at T. Rowe Price, the brokerage commission is $9.95. All fees are subject to change without notice. The commissions for securities sold through other firms with which the Program has an account (for example, Charles Schwab, E*Trade, Morgan Stanley SmithBarney) are set by those firms.

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Q:

Can I donate from my IRA to the Program for Charitable Giving now?

A:

Yes, you can contribute assets that you have withdrawn from your IRA to the Program. Please note that withdrawals from your IRA are taxable and are included as part of your ordinary income. If you do contribute to the Program, you can claim a charitable income tax deduction for the amount of the contribution in the year in which it is made (up to the IRS limits). Prior to making the contribution, you may want to discuss this decision with your tax advisor or attorney to ensure that these assets are not needed for you or your family.

Please note: Contributions from your IRA to your giving account do not qualify as a Qualified Charitable Deduction (QCD), since donor-advised funds are excluded from the QCD rule under existing regulations. A QCD enables individuals aged 70 1/2 or older to distribute funds from their IRA directly to eligible charitable organizations and exclude the distribution from their gross income, up to $100,000.

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Q:

Can I leave assets in my IRA to the Program for Charitable Giving?

A:

Yes, you can leave your IRA or other retirement accounts to the Program for Charitable Giving. The most common way to do this is to name the Program as the primary beneficiary of your IRA or retirement account.

If you wish, you may inform the Program of your intentions and provide account information. Simply complete a Program New Account form and indicate that the contribution will be made through your estate. This ensures that account information and the names of donor-advisors are included in the Program's records.

The advantage of this strategy is that your estate will receive an estate tax charitable deduction for the amount of the bequest. Prior to making the contribution, you may want to discuss this decision with your tax advisor or attorney to ensure that these assets are not needed for you or your family.

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Q:

Why not contribute directly to the charity of my choice?

A:

The Program for Charitable Giving offers several features that may be relevant and advantageous to you in achieving your charitable giving objectives and strategies.

Specifically, the Program offers you:

  • The ability to take a tax deduction (up to the allowable IRS limits) in the year of the gift.
  • The opportunity to make your grant decisions over a number of years. You decide when you want to support the organizations you feel most strongly about.
  • The ability to provide support to multiple nonprofits from one donation of stock.
  • The potential to grow your gift within managed investment pools to increase the amount you ultimately contribute. This strategy is especially advantageous for philanthropists who seek current tax advantages yet have high charitable aspirations and a longer investment time horizon.
  • The convenience of managing your charitable giving through one account that provides quarterly statements documenting all account activity.
  • The ability to name multiple advisors and contributors to your account, promoting charitable giving within your family or business.
  • A resource to assist you in researching charitable organizations that may be compatible with your charitable mission or objectives.
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Q:

Is there a minimum account balance?

A:

Yes. The minimum account balance is $500. Donors whose accounts fall below the minimum are notified prior to any action by the Program.

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Grants

Q:

How do I support charities of my choice?

A:

You make a grant recommendation for a distribution from your donor-advised fund account. Grants may be made to U.S. public charities, private operating foundations, and certain governmental entities. As a result of the Pension Protection Act of 2006, some supporting organizations are no longer eligible for a Program grant. The minimum grant recommendation is $100. To review the charitable causes supported by the Program, click here.

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Q:

May I make a grant recommendation from my account as soon as it's established?

A:

Yes, you may make a grant recommendation once your Program contribution has been processed.

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Q:

How long will it take for my recommendation to be considered?

A:

All grant recommendations are reviewed by the professional staff of the Program.

The length of the review process is contingent upon:

  • Thoroughness of information provided with the grant recommendation (federal tax ID number/EIN for charitable organization, mailing address, etc.).
  • The Program's previous experience with the charitable organization recommended.
  • The dollar amount of the recommended grant:
    Grant recommendations of $50,000 and up to $100,000 require the approval of the president. Grant recommendations of $100,000 or more require the approval of the Board of Directors.

Donors can follow the status of their grant recommendation through online account access.

You will receive a copy of the letter sent to an organization receiving a Program grant based on your recommendation. You will also be notified of the reasons that a recommendation could not be approved.

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Q:

If my grant recommendation is approved, how will I be recognized?

A:

The Program sends a letter to an organization receiving a Program grant based on your recommendation. You can request that the letter will include your name as the advisor for the grant, the name of the account, and the address. Or you can remain anonymous. You will receive a copy of this letter.

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Q:

Why would a grant recommendation be turned down?

A:

The Program makes every effort to honor grant recommendations. Remember that grants must meet the following criteria:

  • The purpose of the grant must be for a designated charitable cause:
    - Arts and Culture
    - Education
    - Environment
    - Human Services
    - Medicine and Science
    - Religious Activities
    - Other Innovative Charitable Undertakings
  • The grant recipient must be a recognized U.S. public charity, private operating foundation, or qualified governmental entity and directly support the Program's designated causes. Please note that some supporting organizations are not eligible for a grant.
  • Grants may not be used to fulfill any preexisting pledge.
  • No impermissible benefit (for example, school tuition, membership fees, dues, goods bought at charity auctions) may be received by any individuals or entities connected to a Program account.
  • Grants may not be used for lobbying, political contributions, or support of political campaigns.
  • Grants may not be made to benefit a specific individual, private non-operating foundation, or foreign-registered charitable organization.
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Q:

Am I required to distribute 5% from my donor-advised fund account each year?

A:

The Program requires that the total dollar amount of grants issued by the Program be equal to at least 5% of the Program's total assets (based on a five-year average). Over the years, the Program has made grant distributions of over 20% of the average assets held by the Program in a particular year.

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Q:

Am I required to make a grant recommendation out of my giving account every year?

A:

No. Each giving account is only required to distribute $250 in grant payments every five years. The Program will contact you if your giving account has not met this distribution minimum.

An account will be considered orphaned if the account has not generated a grant disbursement for 5 years and the Program’s diligent attempts have been unsuccessful for 60 days in either locating the donor-advisor(s) or causing the donor-advisors(s) to recommend a grant. If the account has a named successor, then the successor shall become the primary donor-advisor. If the account has named charitable beneficiary organizations, then funds shall be disbursed to those beneficiaries.

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General Giving Fund

Q:

What is the General Giving Fund of The T. Rowe Price Program for Charitable Giving?

A:

The Program has established a General Giving Fund, which accepts contributions on an unrestricted basis. This fund will be used by the Program in making grants according to Program guidelines. It may also be used to cover administrative and overhead expenses of the Program as a whole. Like all gifts made to the Program, donations to the General Giving Fund are irrevocable and donors realize their allowable charitable tax deduction in the calendar year in which the donation is made. No donor interest in regard to investments or grants is established.

The General Giving Fund receives assets from: (1) gifts without donor-advised interests; (2) donor-advised accounts where the advisory rights have lapsed or terminated; and (3) accounts from which no grant activity has been recorded in five years and efforts to communicate with the donor-advisors, successors, or beneficiaries have failed.

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Q:

Why would I consider a gift to the General Giving Fund?

A:

The General Giving Fund provides you with an immediate outlet or direction for your charitable donation to the Program. This strategy works best for individuals without a general interest in how their donation will be put to use or who do not have the time or desire to investigate and research appropriate charitable outlets. Grants using assets donated and placed in the General Giving Fund are determined by the Board of Directors of the Program.

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Investment pools

Q:

What investment options are available?

A:

The Program offers six investment pools, each with a specific risk/return objective. The pools are composed of no-load mutual funds managed by T. Rowe Price.

The T. Rowe Price investment approach strives to achieve superior performance while considering risks incurred versus potential rewards. Click here for more detailed information on the investment pools. When you open your donor-advised fund account, you recommend one or more pools in which to invest your contribution. You can request a change in your investment selection at any time with no fee.

Donor-advisors associated with a T. Rowe Price Program for Charitable Giving account with a balance of $3 million or above may request separate portfolio management for their fund account. This service offers an opportunity to recommend the account be invested in individual securities, bonds, and mutual funds. Click here for more information.

All investment pools and separately managed portfolios are subject to market risk, including possible loss of principal.

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Q:

How do I find out how the investment pools are performing?

A:

The Program updates the pool performance after the end of each quarter and posts it on the Program's website. Click here to go to the most recent pool performance.

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Fees          

Q:

What are the fees associated with a donor-advised fund account?

A:

The Program assesses an annual administrative fee on all donor-advised assets to help cover operating and administrative expenses. The prorated assessment is made on a daily basis and is reflected in the net asset value of each investment pool. Annual administrative fees are as follows:

Account Balance Administrative Fee
Less than $500,000 0.50%
$500,000 - $999,999 0.39%
$1 million - $2,499,999 0.18%
$2.5 million - $4,999,999 0.12%
$5 million - $14,999,999 0.10%
$15 million and over 0.09%


The Program has established service agreements with T. Rowe Price Associates, Inc., to manage the investment pools operated for the benefit of the Program and its donors. Investment returns are net of expenses of the underlying mutual funds. Annualized expense ratios for the pools have generally ranged from 0.35% to 0.85%. Click here for the pool's annualized expense ratios as of the last quarter.

The total annual fees are the sum of the administrative and investment fees.

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For Charitable Recipients

Q:

How should our charity acknowledge grants from The T. Rowe Price Program for Charitable Giving?

A:

Please do not send grant acknowledgements or tax receipts to the Program. Your acceptance of the grant funds is all that is needed.

Grants received from the Program should be listed as coming from The T. Rowe Price Program for Charitable Giving. You may also include the name of the donor-advised fund or donor-advisor if included in the grant award letter you receive.

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Q:

Can our charity send a thank you letter to the donor-advisor who recommended the grant?

A:

Our donor-advisors choose how they want to be acknowledged for each grant recommendation they make. They may choose to share their name, account name, and personal address. If the donor-advisor’s address in included in the grant letter, you may wish to send them an acknowledgement at their provided address. Donor-advisors should not receive a tax receipt from your charity.

If no address is provided by the donor-advisor, they do not expect a thank you from your organization.

Please do not send any acknowledgments or other materials to The T. Rowe Price Program for Charitable Giving. We do not forward correspondences received on to donor-advisors.

If you have further questions, please contact PCGQuestions@ProgramForGiving.org.

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Q:

How can our charity be added to the eligible charity list?

A:

The Program does not maintain an eligible charity list. Our donor-advisors recommend charities based on their own research and interests. We encourage charities to keep their information current on popular nonprofit research sites, such as: GuideStar, Charity Navigator, and BBB Wise Giving Alliance.

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Q:

Can grants be accepted by our charity for events and membership?

A:

Grants from donor-advised funds may only be made for events or memberships if the donation is considered 100% tax deductible by the recipient charity and the donor-advisor receives no "personal benefit".

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