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Understanding Your Philanthropic Options Private Charitable Solutions Comparison Chart

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Understanding Your Philanthropic Options Private Charitable Solutions Comparison Chart Understanding Your Philanthropic options Private Charitable Solutions Comparison Chart PhilanthroPic ManageMent Creating a successful charitable giving plan begins with understanding the different options available to you and your family and determining which are best aligned with your goals. For more detailed information about these solutions, please contact your financial advisor. Bank of America Merrill Lynch Community Foundation Advisory Services Charitable Gift Fund Charitable Fund® Program Charitable vehicle Donor advised fund Private foundation Adjusted Gross Income limit n Cash: 50% n Cash: 30% on tax deductibility n Publicly traded securities: 30%1 n Publicly traded stock: 20%1 1 1 (Excess may be carried n Non-financial assets: 30% n Non-financial assets: 20% over five years.) Grantmaking Donor makes grant recommendations Donor has full control over and responsibility for grantmaking activities and decisions Investments Donor chooses from investment portfolio options managed by Donor can choose to direct Bank of America Merrill Lynch investment management Privacy Donor discretion to grant anonymously Grant activity is a matter of public record Excise tax on net None 1% or 2% net investment income investment income Quarterly tax No Yes payments required Required annual distribution No Yes, minimum required distribution of 5% based on asset value Donor IRS filing requirement No Must file tax return 990-PF Legal fees/Start-up costs No Yes, required to establish foundation Administration Provided by donor advised fund Full range of administrative services available Tax preparation Provided by donor advised fund Full range of tax preparation services available continued 1 Deductions based on fair market value if held for more than one year. Contributions of non-publicly traded securities or non-financial assets to a private foundation are limited to cost basis. Bank of America Merrill Lynch is a marketing name for the Retirement & Philanthropic Services (RPS) businesses of Bank of America Corporation. Banking and fiduciary activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Brokerage services are performed globally by brokerage affiliates of Bank of America Corporation, including Merrill Lynch, Pierce, Fenner & Smith Incorporated (MLPF&S). MLPF&S is a registered broker-dealer, Member SIPC and a wholly owned subsidiary of Bank of America Corporation. Investment products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value Please see reverse for important information. Bank of America Merrill Lynch Community Foundation Advisory Services Charitable Gift Fund Charitable Fund Program Client type Self-advised donors with clear Donors seeking guidance All types of donors charitable objectives — they on making grants from an know which charities they want expert with local, community to support, how much and knowledge when they want to make grants Account minimums n Initial contribution: $5,000 n Initial contribution: $25,000 No statutory minimum n Ongoing contribution: $1,000 n Ongoing contribution: but >$5 million n Minimum grant: $250 or any amount/unlimited is recommended the balance of the account, n Minimum grant: $250 whichever is less Types of assets accepted n Cash, securities and n Cash, securities and n Cash, securities and mutual funds mutual funds mutual funds n Restricted stock and closely n Restricted stock and closely n Restricted stock and closely held business interests2 held business interests2, 3 held business interests2 n Certain non-financial, n Certain non-financial, n Certain non-financial, tangible tangible assets2 tangible assets2, 3 assets2 Support from Support in developing Support in developing Comprehensive support including grantmaking experts charitable giving plan charitable giving plan and strategic consulting, mission grantmaking advice development, grantmaking, governance and compliance Family involvement Unlimited co-advisors Up to five co-advisors Unlimited co-advisors Succession Unlimited Up to five successors (must Unlimited be named persons during original donor’s lifetime) 2 Considered on a case-by-case basis. 3 Depending on specific community foundation partner. Bank of America Merrill Lynch makes available investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation or in which Bank of America Corporation has a substantial economic interest, including BofATM Global Capital Management, BlackRock, and Nuveen Investments. Always consult with your independent attorney, tax advisor, investment manager, and insurance agent for final recommendations and before changing or implementing any financial, tax, or estate planning strategy. Unless otherwise noted, all trademarks and registered trademarks are the property of Merrill Lynch & Co. Inc. © 2010 Bank of America Corporation. All rights reserved. | AR99370 | SHEET-06-10-0572.A | 00-63-0519NSB | 6/2010 10% post-consumer content . Protect your personal information before recycling this document..
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