MATAWAN, N.J., Nov. 15, 2005 (PRIMEZONE) -- Concord Equity Group Advisors (Concord), a leader in outsourced wealth management solutions, today announced the Independent Charitable Gift Fund to their clients by joining forces with the National Philanthropic Trust (NPT), one of the hundred largest charities in the United States.
The program provides Concord financial partners, including trust banks, brokerage firms and registered investment advisors, with a donor-advised fund program for their clients seeking tax-efficient charitable giving opportunities. The Independent Charitable Gift Fund will empower potential donors to make future philanthropic grants to charitable organizations, while enjoying an immediate income tax deduction on contributions of cash or appreciated securities.
Made available to the extensive network of institutions, advisors and investment representatives that work with Concord, the program is administered through a partnership with NPT. The Independent Charitable Gift Fund enables donors to grow their contributions in a variety of cost-effective investment vehicles, including exchange-traded funds, until they are ready to recommend grant distributions to specific charities. NPT administers the funds, reviews grant recommendations, and manages the technology and system processes to streamline program implementation.
"Charitable giving is a fundamental element of financial planning and an important addition to the services offered through our wealth management infrastructure," said Alan Gavornik, Co-Founder and Executive Managing Director of Concord Equity Group Advisors. "The Independent Charitable Gift Fund provides institutions, advisors, and investment representatives with the tools to do well by doing good through sophisticated, high-touch philanthropic services that will deepen their client relationships, while maximizing tax-efficient philanthropy."
A donor-advised fund, created at NPT, eliminates the burdensome administration normally associated with similar charitable giving tools. NPT's comprehensive infrastructure offers financial services companies a complete "private-label" giving program to their clients -- from charitable fund creation and asset selection to grant recommendation and charitable distribution.
"NPT's relationship with Concord Equity Group Advisors is truly a win-win," said Eileen Heisman, President of NPT. "NPT has expanded its philanthropic reach to a greater number of individuals interested in making charitable gifts, while Concord has instantly acquired the technical, nonprofit, and operating knowledge necessary to get their program up and running in time for giving season. Our donor-advised fund platform empowers any financial services provider to offer an important and growing service to their clients almost immediately," she added.
About Concord Equity Group Advisors
Concord Equity Group Advisors delivers world-class advisory programs and technology to financial services companies ranging from broker dealers and clearing firms to investment advisors and trust banks. Concord has established itself as a solution for financial institutions to effectively grow their businesses while focusing on their core competencies of asset management and marketing. Utilizing a robust technology platform delivered via an Internet/intranet connection through a web-based browser, financial services firms can quickly ramp-up their offerings and manage growth without large upfront costs and ongoing maintenance. Additional information on the company is available at www.cegadvisors.com.
About National Philanthropic Trust
The National Philanthropic Trust (NPT) is an independent public charity dedicated to increasing philanthropy in our society. Its mission is to promote and facilitate giving by individuals, families and organizations while expanding their knowledge in the field of philanthropy. Founded in 1996, NPT is one of the 100 largest charities in the United States. Since its inception, NPT has raised nearly $1 billion in charitable assets and made more than 12,500 grants to U.S. and international charities totaling $450 million. Led by a national board of trustees and a team of professionals with more than eight decades of philanthropic experience, NPT has proven expertise in the stewardship of charitable donations.
NPT offers donor advised funds, supporting organizations, pooled income fund, and special field of interest funds to help donors with the administration and investment of their philanthropic dollars and give them freedom to recommend support to charities and causes that interest them. For more information, visit www.nptrust.org.