Philanthropic Giving
You want your philanthropic giving to be impactful and emotionally fulfilling. Your giving doesn’t have to be limited to writing checks to support organizations and issues that are important to you. It can result from a thoughtful plan that takes advantage of all the tools and strategies available to you.
At City National, we understand the role philanthropy plays in your life and overall wealth plan. Our role is to assist you and your family in executing your charitable vision. We can provide comprehensive philanthropic solutions and experience, and we look forward to helping you realize your goals.
CHARITABLE TRUSTS
You may determine that a trust1 with a charitable component, such as a charitable remainder or charitable lead trust, assists in meeting your philanthropic goals. Our teams are well-versed in the implementation and administration of charitable trusts.
We can help execute your vision by providing:
- Trustee and co-trustee services
- Agent for trustee services
- Full reporting/accounting services including trust tax reporting
- Review of and assistance with the implementation of investment policies and objectives
We can educate you about potential charitable trust options to discuss with your legal and tax advisors:
- Charitable remainder unitrust (CRUT)
- Charitable remainder annuity trust (CRAT)
- Net-income charitable remainder unitrust (NICRUT)
- Charitable lead unitrust (CLUT)
- Charitable lead annuity trust (CLAT) ...and more
FOUNDATIONS
A private foundation may be the charitable vehicle that helps you accomplish current and future philanthropic goals and ambitions. City National is here to help execute that vision by assuming one of several different roles and delivering a range of services:
Possible roles for City National:
- Foundations established as a trust
- Sole trustee and co-trustee
- Agent for trustee
- Trustee acting with a separate committee
- Foundations established as a corporation
- Agent services
Services provided to all foundation clients:
- Governance
- Provide the business address and safekeeping of client’s documents and records
- Coordinate, organize quarterly/annual foundation meetings
- Assist in creation and implementation of foundation investment policy and charitable mission
- Grant administration
- Reporting, tracking, assessing and responding to grant requests and/or multiyear charitable commitments
- Preparation of reports for committee review
- Preparation and execution of grant letters, distributions and other communications
- Vetting of all grant recipients for confirmation of qualifying charitable status
- Compliance and tax reporting
- Foundation tax preparation and filing
- Expenditure responsibility reporting
(as necessary based on grant recipients)
DONOR-ADVISED FUNDS
Donor-advised funds are becoming an increasingly popular philanthropic vehicle. At City National, we can offer direct access to establishing and managing a donor-advised fund.
Together with the American Gift Fund,2 we can offer:
- Grant-making (online, by phone or mail)
- Investment management1
- Reporting
Together with a comprehensive team of professionals and City National Bank’s national capabilities, we can help design a wealth transfer and philanthropic plan that will last for generations.
Reach out to your financial advisor to learn more and understand how City National Rochdale can help.
SOURCES
1 Trust and Estate services offered through City National Bank and RBC (Delaware) Trust. Investment management services provided by City National Rochdale, LLC, a wholly owned subsidiary of City National Bank and a registered investment advisor providing investment advisory services to City National Bank clients. Brokerage services are provided through City National Securities, Inc. (member FINRA, SIPC), a subsidiary of City National Bank.
City National Bank provides investment management services through its wholly owned subsidiary City National Rochdale LLC, a registered investment advisor. Brokerage services provided through City National Securities, Inc., Member FINRA/SIPC, a wholly owned subsidiary of City National Bank. As with any investment strategy, there is no guarantee that investment objectives will be met, and investors may lose money. Diversification does not ensure a profit or protect against a loss in a declining market. All investing is subject to risk, including the possible loss of the money you invest. Past performance is no guarantee of future performance.
2 The American Gift Fund is a public charity under Internal Revenue Code section 501(c)(3). City National Bank’s wholly owned subsidiary, RBC Trust (Delaware) Ltd., serves as trustee of the American Gift Fund and provides certain investment management and administrative services.
IMPORTANT DISCLOSURES
This document is for general information and education only. It is not meant to provide specific tax guidance. The information in this document was compiled by the staff of City National Rochdale (City National) from data and sources believed to be reliable, but City National makes no representation as to the accuracy or completeness of the information. The opinions expressed, together with any estimates or projections given, constitute the judgment of the author as of the date of the presentation. City National has no obligation to update, modify, or amend this document or otherwise notify you in the event any information stated, opinion expressed, matter discussed, estimate, or projection changes or is determined to be inaccurate.
City National, its managed affiliates and subsidiaries, as a matter of policy, do not give tax, accounting, regulatory, or legal advice. Rules in the areas of law, tax, and accounting are subject to change and open to varying interpretations. Any strategies discussed in this document were not intended to be used, and cannot be used for the purpose of avoiding any tax penalties that may be imposed. You should consult with your other advisors on the tax, accounting and legal implications of actions you may take based on any strategies or information presented taking into account your own particular circumstances.
This presentation is not to be construed as investment advice or as an offer, or solicitation of an offer, to buy or sell any financial instrument. Financial instruments discussed in this presentation may not be suitable for your individual circumstances. You should make your own investment decisions, using an independent advisor if prudent, based on your own investment objective and financial situation.
This presentation (or any portion thereof) may not be reproduced, distributed, or further published by any person without the written consent of City National.
City National Rochdale, LLC, is a SEC-registered investment adviser and wholly owned subsidiary of City National Bank. Registration as an investment adviser does not imply any level of skill or expertise. City National Bank and City National Rochdale are subsidiaries of Royal Bank of Canada.
© 2023 City National Rochdale. All rights reserved.
Top