Can donors transfer assets from another donor-advised fund?
Yes, generally donor-advised fund programs allow donors to transfer funds from one program to another. Donors simply recommend a grant from their existing donor-advised fund account to their Franklin Templeton Charitable Giving Fund account. The grant should be to Renaissance Charitable Foundation, Inc. in care of the donor’s account in Franklin Templeton Charitable Giving Fund. When the grant is received, the funds will be credited toward the donor’s account. This event is not taxable because the donor has already received a tax deduction for the original contribution to a donor-advised fund.
Yes, generally donor-advised fund programs allow donors to transfer funds from one program to another. Donors simply recommend a grant from their existing donor-advised fund account to their Franklin Templeton Charitable Giving Fund account. The grant should be to Renaissance Charitable Foundation, Inc. in care of the donor’s account in Franklin Templeton Charitable Giving Fund. When the grant is received, the funds will be credited toward the donor’s account. The account transfer does not result in a charitable contribution deduction because the donor has already received a tax deduction for the original contribution to a donor-advised fund.
