Knights of Columbus, one of the largest Catholic philanthropic organizations in the world, today announced a new affiliated vehicle for donors called “Knights of Columbus Charitable Fund” (KCCF). KCCF allows donors to open donor-driven accounts, recommend charities to which donations can be sent through a safe, secure and confidential portal.
Carl Anderson, CEO of Knights of Columbus, said, “Catholics today are looking for opportunities to demonstrate their faith and to support organizations that reflect their values. They want to direct their charity to organizations easily and efficiently.”
The addition of a donor-advised fund option satisfies a unique customer and market niche that is a powerful tool for maximizing philanthropic impact on organizations that align with Catholic values and teachings. Donor-advised funds have become the fastest-growing segment of charitable-giving vehicles due to their flexibility and simplicity. Assets in the donor-advised fund are invested tax-free with no distribution requirements, excise taxes, or other reporting requirements for the individual donor. Donors can make a current charitable contribution, receive an immediate potential tax benefit, and then recommend grants from the fund over time. And tax-free investing over time can result in larger ultimate gifts for charities.
Knights of Columbus Asset Advisors (KoCAA), a faith-based investment group, began working with CCFGiving, a donor-advised fund focused on grant making and investing in accordance with Catholic values, in November 2017 and served as investment advisor to the donor-advised fund since its founding earlier that year. In December 2018, CCFGiving became affiliated with the Knights of Columbus and is now known as KCCF. Founder and President, Dennis Gerber will continue to work with KCCF to build charitable investment opportunities for the organization and is now backed by the full depth and breadth of the KoCAA team. There are currently 24 fund accounts under management, totaling $2.4 million, in funds that are now available for KCCF to grant to other charities with the advice of the donors.
About Knights of Columbus Charitable Fund
Knights of Columbus Charitable Fund is an independent 501(c)(3) public charity. It allows individuals to make a charitable contribution, receive an immediate potential tax benefit and then recommend grants from the fund over time to any 501(c)(3) charities that do not conflict with Catholic values.
Knights of Columbus Charitable Fund furnishes the opportunity to create a legacy of generosity by personalizing the name of a fund, safeguarding philanthropic goals and strategically advising gifts to organizations that align with Catholic values, principles and teachings.
Knights of Columbus Charitable Fund is an independent, nonprofit public charity with a donor-advised fund program. The value of a donation to a donor-advised fund will fluctuate over time and may gain or lose money, which will affect total benefits ultimately received by charities.
Information provided is educational in nature and is not intended as legal, tax, financial or other professional advice. Knights of Columbus Charitable Fund does not provide legal, tax, financial or other professional advice. You should consult professional advisors concerning the legal, tax or financial consequences of your charitable activities. Tax information provided relates to federal tax matters only and availability of certain federal tax deductions may depend on whether you itemize deductions.
For more information, please visit: www.knightscharitable.org
About Knights of Columbus Asset Advisors
Knights of Columbus Asset Advisors is an SEC-registered investment adviser that maintains a principal place of business in the State of Connecticut. For further information about KoCAA’s business operations, please consult the Firm’s Form ADV disclosure documents, the most recent versions of which are available on the SEC’s Investment Adviser Public Disclosure website at www.adviserinfo.sec.gov. KoCAA is a wholly-owned subsidiary of Knights of Columbus, the world’s largest Catholic lay organization, with over $24 billion in assets under management. Please visit: KofCAssetAdvisors.org for additional information.
You should consider the investment objectives, risks and charges and expenses of the donor-advised funds carefully before investing. Nothing presented herein is intended to constitute investment advice and no investment decision should be made based on any information provided herein. Nothing presented herein should be construed as a recommendation to purchase or sell a particular type of security or follow any investment technique or strategy. No guarantee of investment performance is being provided and no inference to the contrary should be made.
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