HSBC Bank Launches New Donor Advised Fund
30 Novembro 2021 - 11:00AM
Business Wire
New fund provides HSBC clients with a simple, efficient and
flexible way to make charitable contributions
HSBC Bank USA today introduced the HSBC Donor Advised Fund (HSBC
DAF) in collaboration with National Philanthropic Trust (NPT), the
largest national and independent charitable sponsor of DAFs. This
new program allows HSBC clients to strategically support causes and
qualified charities of their choice and receive an immediate tax
deduction for their contributions. The HSBC DAF offers a simple,
efficient and flexible way to make a charitable contribution.
DAFs are the fastest-growing segment of charitable giving
vehicles, ahead of private foundations, trusts, annuities and
pooled-income funds. This is largely due to flexibility and
simplicity of use. DAF donors are able to contribute a wide range
of assets, both liquid and illiquid, to the fund, and any potential
investment returns will increase the amounts available for
charitable donations.
According to National Philanthropic Trust’s 2021 DAF Report:
- Grantmaking from DAFs to qualified charities totaled more than
$34 billion in 2020, a 27% increase from 2019
- In 2020, DAF donors contributed an estimated $47.8 billion to
their accounts
- Charitable assets in DAFs totaled $159.8 billion, a 9.9%
increase from 2019
“For clients that are philanthropically inclined, donor-advised
funds are a great way for individuals and families to give back to
charitable organizations or causes that they value and support,”
said Carly Doshi, Head of Wealth Planning and Advisory, Americas.
“It’s important to recognize the crucial role individuals and
family philanthropists play in tackling today’s biggest social
issues. With the addition of this DAF program, we’re providing
solutions that will help our clients ensure their philanthropic
decisions have a positive impact on the world and are aligned with
their family's values.”
DAFs offer the maximum tax benefits allowed by law. HSBC clients
who choose to open a DAF can:
- Select an investment strategy for contributions to the DAF
- Designate who has access to the account, including family
members and advisors
- Recommend charitable grants to both domestic (US) and
international charities
- Define a legacy plan for the HSBC DAF
“NPT is proud to be a part of HSBC Bank's solutions to help
clients support what means most to them, strategically and
efficiently, with donor-advised funds,” said René Paradis, Chief
Operating Officer, National Philanthropic Trust. “The number of DAF
accounts has increased almost 400% in the past decade and HSBC
Bank's new donor-advised fund program will continue to help advance
charitable giving around the world.”
As a public charity, NPT issues gift receipts to donors for
their contributions, which can be used for personal income tax
filing purposes. To make a gift that will reduce 2021 income taxes,
the gift must be received by NPT on or before December 31,
2021.
“The launch of the HSBC Donor Advised Fund provides our clients
with distinct and tailored wealth management and philanthropic
investing options,” Doshi said.
Note to editors
HSBC Donor Advised Fund
HSBC Donor Advised Fund (“HSBC DAF”) is the brand name for the
donor advised fund program offered by HSBC Bank, USA, N.A. in
partnership with National Philanthropic Trust, an independent
public charity and a sponsoring organization of donor-advised
funds. Various HSBC entities provide services to HSBC DAF. HSBC DAF
and NPT are registered service marks, and the HSBC DAF logo is a
service mark, of NPT, used by HSBC DAF under license. HSBC and the
Hexagon are registered trademarks of HSBC.
HSBC USA
HSBC Bank USA, National Association (HSBC Bank USA, N.A.) serves
customers through retail banking and wealth management, commercial
banking, private banking, and global banking and markets segments.
It operates bank branches in: California; Washington, D.C.;
Florida; Maryland; New Jersey; New York; Pennsylvania; Virginia;
and Washington. HSBC Bank USA, N.A. is the principal subsidiary of
HSBC USA Inc., a wholly-owned subsidiary of HSBC North America
Holdings Inc. In the United States, deposit products are offered by
HSBC Bank USA, N.A., Member FDIC, investment and brokerage services
are provided through HSBC Securities (USA) Inc., (Member
NYSE/FINRA/SIPC) and insurance products are provided through HSBC
Insurance Agency (USA) Inc.
HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is
headquartered in London. HSBC serves customers worldwide from
offices in 64 countries and territories in our geographical
regions: Europe, Asia, North America, Latin America, the Middle
East and North Africa. With assets of US$2,969 billion at 30
September 2021, HSBC is one of the world’s largest banking and
financial services organizations.
About National Philanthropic Trust
Founded in 1996, National Philanthropic Trust (NPT) marks its
25th Anniversary in 2021 as the largest national, independent
public charity that manages donor-advised funds and one of the
leading grantmaking institutions in the U.S. Since its founding,
NPT has raised more than $27.0 billion in charitable funding and
has made more than 430,000 grants exceeding $15.5 billion to
nonprofits around the world. NPT annually publishes the
Donor-Advised Fund Report, the sector’s authority on the state of
DAF philanthropy. In early 2021, NPT published the first
sector-wide survey of DAF response to COVID-19, the DAF COVID
Grantmaking Survey. Visit NPT’s resource library to learn what you
can do with a DAF and NPT impact investing solutions. More at
NPTrust.org.
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Media enquiries to: Matt Kozar +1 212 525-1007
matt.kozar@us.hsbc.com
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