Important TIAA Charitable Update
January 19, 2021
After much consideration, TIAA Charitable has decided to end its administration of donor-advised funds and has selected the Renaissance Charitable Foundation (RCF) to take over as the sponsoring charity of our Giving Fund accounts. The transition will begin on March 8, 2021.
We conducted an extensive diligence process before selecting RCF as a successor sponsoring organization. Our goal was to select an organization that provides our donors with a seamless transition to a platform that would afford them the equivalent client experience that they have come to expect with TIAA Charitable. Our donors’ philanthropic mission, as well as financial stewardship, were at the forefront of our decision making process.
Established in 2000, RCF is a 501(c)(3) public charity that supports over $2 billion in donor-advised fund assets and operates custom, private-label donor-advised fund programs for many of the nation’s most prominent financial services and philanthropic organizations. Additionally, we have a long-standing relationship with RenPSG, an affiliate organization of RCF. Since 2016, RenPSG has provided the third-party back office technology and administrative support for our Giving Fund, and it has a deep understanding of the services and features to which our donors are accustomed. To learn more about the RCF Giving Fund, including charitable giving solutions, fee schedules and contact details, visit www.rcfgivingfund.org.
TIAA Charitable Giving Fund account holders, we believe the RCF Giving Fund will provide you with the opportunity to continue your philanthropic endeavors. If you wish to continue fund participation with RCF, no further action is required. However, if you do not wish to have RCF support your Giving Fund, you can submit an account closing recommendation to grant the funds in your account to another donor-advised fund organization of your choosing. Alternatively, you can recommend grants to one or more qualified charities for the full balance of your account. Recommendations must be submitted by March 7, 2021. Please sign in to your Giving Center, call 800-392-4420, or email email@example.com for more information about the transition including a timeline, or refer to the letter mailed on January 19, 2021.
Contributions to the Giving Fund are irrevocable. All recommendations from donors are subject to review and approval by TIAA Charitable.
TIAA Charitable does not provide tax advice. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.
TIAA Charitable is the brand name for an independent public charity that maintains a donor-advised fund program. The TIAA name is a registered mark of Teachers Insurance and Annuity Association of America and is used by TIAA Charitable pursuant to a license.
TIAA Charitable, Inc. has been recognized by the Internal Revenue Service as a tax-exempt public charity under Sections 501(c)(3) and 170(b)(1)(A)(vi) of the Internal Revenue Code of 1986, as amended (the “Code”).