Can donors transfer assets from another Charitable Gift Fund?
A. Yes, generally charitable gift fund plans allow donors to transfer funds from one program to another. Donors simply recommend a grant from their existing account to a new account within CGFCF. The grant will be made payable to the Charitable Gift Funds Canada Foundation in care of the donor’s new account. When the grant is transferred, the funds will be credited to the donor’s new account. This event is not taxable as the donor has already received a donation receipt for the contributions made to the original Charitable Gift Fund.
Related Questions
- How do I transfer assets to my fund at MCF from my commercial donor-advised fund (e.g., the Schwab Charitable Gift Fund or Fidelitys donor-advised fund program)?
- If a client is entering a nursing home, can they transfer assets in order to qualify for Medicaid? Can they gift a home to a child or must they sell it?
- Can donors transfer assets from another donor-advised fund?
