offered in partnership with National Philanthropic Trust (NPT), an independent public charity and a national leader in customized donor advised fund solutions.
“BGI has always felt strongly about philanthropy, investing millions in community projects around the world,” said Michael Latham, co-CEO of iShares at BGI. “We’re pleased to be working with NPT to offer this program targeted to financial advisors and donors. It will provide a cost-effective and easily accessible way for donors to support charitable causes and establish an ongoing philanthropic legacy.”
The iShares CGP is designed to offer investors access to a broad array of respected investment products within a strategic charitable giving vehicle that seeks to meet even their most complex philanthropic goals.
“NPT offers a wide range of sophisticated and highly personalized donor advised fund services,” said Eileen Heisman, president and CEO of NPT. “We make it easy and inexpensive for donors to fulfill their charitable goals anywhere in the world, and our partnership with iShares represents a significant coming together of two financially distinguished organizations devoted to philanthropy.”
A donor advised fund (DAF) is a charitable giving vehicle that provides donors with an immediate tax deduction for their contributions while allowing them to recommend grants to their favorite charities on their own timeline. DAFs are the fastest growing charitable giving vehicle in the United States, with more than $27.7 billion in assets and over 122,500 DAF account holders. Their rise in popularity since 1999 has been in large part due to their adoption by professional advisors, who have gravitated toward the ease and affordability of DAFs versus the complexities of establishing and maintaining a family foundation(2).
The iShares CGP accepts a wide range of contributions (including real estate, restricted stock, and bequests) and is one of the few donor advised fund programs that can make grants directly to qualified international charities. Donors will be able to customize their investment allocation across more than 25 different iShares ETFs, enabling them to broadly diversify their contribution and increase its ability to grow tax-free to provide greater support of their charitable goals. Investors with contributions in excess of $5 million will be provided with the opportunity to diversify their assets across the entire iShares product family.
About iShares CGP
Professional advisors and their clients interested in learning more about the iShares CGP can visit www.ishares.com/charity or call toll-free 1-888-675-8383.
About Barclays Global Investors/iShares
Barclays Global Investors is one of the world’s largest asset managers and a leading global provider of investment management products and services. BGI has more than 2,900 institutional clients and US$1.7 trillion of assets under management as of 30 June 2009. It transformed the investment industry by creating the first index strategy in 1971 and the first quantitative active strategy in 1979. BGI is the global product leader in exchange traded funds (iShares) with over 380 funds globally across equities, fixed income and commodities, which trade on 16 exchanges worldwide. The iShares customer base consists of the institutional segment of pension plans and fund managers, as well as the retail segment of financial advisors and high net worth individuals.
About National Philanthropic Trust
National Philanthropic Trust (NPT) is an independent public charity dedicated to promoting and facilitating charitable giving by individuals, families and organizations while expanding their knowledge in the field of philanthropy. Founded in 1996, NPT has been among the 100 fastest growing charities for six straight years (2003-2008), and one of the top 35 grant makers in the United States with nearly $660 million in assets under management. Since its inception, NPT has raised more than $1.7 billion in charitable assets, and made more than 34,000 grants to U.S. and international charities totaling $1 billion. Led by a national board of trustees and a team of professionals with more than 200 combined years of philanthropic experience, NPT has proven expertise in the stewardship of charitable donations. NPT offers donor advised funds, supporting organizations, and special field of interest funds to help donors with the administration and investment of their philanthropic dollars and give them freedom to recommend support to charities and causes that interest them.
Call 1-800-iShares to request a prospectus, which includes investment objectives, risks, fees, expenses and other information that you should read and consider carefully before investing.
Investing involves risks, including possible loss of principal. Diversification may not protect against market risk.
iShares transactions may result in record-keeping fees, but the savings from low annual management fees can help offset these costs. Other charitable administration fees may apply.
The iShares CGP is offered in partnership with National Philanthropic Trust (NPT). As per IRS regulations, contributions to NPT are irrevocable, and NPT retains exclusive legal control over contributed assets. NPT has final approval over all donor grant recommendations.
The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. The information provided is not intended to be tax advice. There is no guarantee that any strategies discussed will be effective.
Investors should be urged to consult their tax professionals or financial advisers for more information regarding their specific tax situations. Neither BGI nor SEI provides investment or tax advice.
Neither Barclays Global Investors, N.A. and its affiliates nor SEI and its affiliates provide tax advice. Please note that (i) any discussion of U.S. tax matters contained in this communication cannot be used by you for the purpose of avoiding tax penalties; (ii) this communication was written to support the promotion or marketing of the matters addressed herein: and (iii) you should seek advice based on your particular circumstances from an independent tax advisor.
Neither SEI, or its affiliates, nor BGI, or its affiliates, are affiliated with NPT.
The iShares Funds (“Funds”) are distributed by SEI Investments Distribution Co. (SEI). Barclays Global Fund Advisors (BGFA) serves as the investment advisor to the Funds. Barclays Global Investors Services (BGIS) and Barclays Global Investors Fund Distribution Company (BGIFDC) assist in the marketing of the Funds. BGFA, BGIS, and BGIFDC are subsidiaries of Barclays Global Investors, N.A., a majority-owned subsidiary of Barclays Bank PLC, none of which is affiliated with SEI.
©2009 Barclays Global Investors, N.A. All rights reserved. iShares® is a registered trademark of Barclays Global Investors, N.A. All other trademarks, servicemarks or registered trademarks are the property of their respective owners. iS-1336-0909
(1) Source: Morgan Stanley Investment Strategies and Bloomberg as of 6/30/2009. Based on number of ETFs, AUM, and market share.
(2) “Donor Advised Fund Market: An Analysis of the Overall Market and Trends,” National Philanthropic Trust, November 2008.