T. Rowe Price Charitable forms may be completed online or downloaded and filled in by hand. All forms must be signed prior to sending them to T. Rowe Price Charitable.
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What is the tax identification number for T. Rowe Price Charitable?
The employer/tax identification number is 31-1709466.
What are the responsibilities of T. Rowe Price Charitable's Board of Directors?
As a 501(c)(3) organization, T. Rowe Price Charitable has a Board of Directors with ultimate authority over investment and grant decisions, including the right to approve grant recommendations and investment allocations.
How do I create a giving account?
The quickest option is to create your account online.
During the account setup, you will be asked to provide personal information about yourself and other donor-advisors on the account, name your account, choose your default investment pools, and sign up for quarterly statements.
You may also elect to provide details about your first planned contribution to your account. This is optional. Please note that all transfers of assets held outside of T. Rowe Price will require you to take additional steps.
You will have immediate access to your account upon completion of the four-step sign-up.
How do I contribute to a giving account?
For cash: Send a check payable to T. Rowe Price Charitable along with a Contribution of Cash form.
For wire: Enter a Planned Contribution via your online account and provide your bank the following wire instructions: M&T Bank, ABA#0520-0011-3, A/C#: 89574181, FBO: Giving Account Name
For assets held at T. Rowe Price: Enter a Planned Contribution via your online account or call 1-800-690-0438.
For assets held at a different brokerage firm: Enter a Planned Contribution via your online account and follow the steps outlined in the transfer instructions provided to you. You must initiate the transfer of assets by contacting the brokerage firm.
For assets held at a transfer agent: You must send an original Contribution of Mutual Funds or Securities form and the transfer agent's Change of Ownership/Transfer Request form to T. Rowe Price Charitable. We will complete the paperwork and submit to the transfer agent.
For mutual funds held directly at the mutual fund institution: You must submit a Contribution of Mutual Funds or Securities form and copy of your recent mutual fund account statement to T. Rowe Price Charitable. Mutual fund transfer requests must be initiated by T. Rowe Price Charitable, not the mutual fund family.
How will I receive a tax receipt for my contributions?
Receipt letters are generated each Monday for the prior week’s contributions. Letters are archived to your giving account under the Letters/Statements tab for your convenient retrieval. Letters contain all necessary information required for reporting of your tax-deductible contribution to the IRS, including date of contribution, value, and asset description. Be sure to compare the receipts with your own records.
Beginning with 2021 contributions, donors will also be provided an annual consolidated tax receipt for all contributions made within the previous calendar year. In January, the annual receipts are mailed as well as archived to your giving account under the Letters/Statements tab for your convenient retrieval.
What are the tax-deductibility limits for contributions into my giving account?
T. Rowe Price Charitable is a 501c3 public charity that sponsors donor-advised funds. The tax ID/EIN number is 31-1709466.
Contributions to T. Rowe Price Charitable are fully deductible for the tax year in which they are made. Contribution of cash are deductible up to 60% of adjusted gross income (AGI). Contributions of long-term appreciated securities are deductible up to 30% of AGI. Contributions over these limits can be carried forward for up to five years.
Grant distributions to charities from your giving account are NOT tax-deductible.
May I make a gift of securities? What value is placed on my gift?
T. Rowe Price Charitable accepts marketable securities, which are usually sold the next business day after receipt in T. Rowe Price Charitable's account in good order. Two values apply:
What fees are applicable to the sale of securities donated in kind?
Security transactions related to donations are subject to commissions and all other applicable fees. For stocks sold through T. Rowe Price Charitable's account at T. Rowe Price, the brokerage commission is $9.95. All fees are subject to change without notice. The commissions for securities sold through other firms with which T. Rowe Price Charitable has an account (for example, Charles Schwab, E*Trade, Morgan Stanley) are set by those firms.
When will donated securities be credited to a giving account?
Securities traded on an exchange are reflected in a giving account balance upon sale and settlement of the securities. Securities that are received in good order are sold at the discretion of T. Rowe Price Charitable, typically the next business day. Stock contributions generally settle three days after receipt, and mutual fund contributions generally settle two days after receipt. In both cases, net proceeds would reflect in an account balance the business day after settlement. Note, the net proceeds amount equals the actual selling price of the securities minus any brokerage and other fees associated with the sale. Due to market fluctuation, this value may be more or less than the value of the securities on the day of donation.
Example stock contribution timeline, for illustrative purposes only:
Can I donate from my IRA to T. Rowe Price Charitable now?
Yes, you can contribute assets that you have withdrawn from your IRA to your giving account. Please note that withdrawals from your IRA are taxable and are included as part of your ordinary income. If you do contribute to T. Rowe Price Charitable, you can claim a charitable income tax deduction for the amount of the contribution in the year in which it is made (up to the IRS limits). Prior to making the contribution, you may want to discuss this decision with your tax advisor or attorney to ensure that these assets are not needed for you or your family.
Please note: Contributions from your IRA to your giving account do not qualify as a Qualified Charitable Deduction (QCD) since donor-advised funds are excluded from the QCD rule under existing regulations. A QCD enables individuals aged 701/2 or older to distribute funds from their IRA directly to eligible charitable organizations and exclude the distribution from their gross income, up to $100,000.
How do I make my giving account a beneficiary in my estate plans?
You can name your giving account as a beneficiary of testamentary contributions from your financial accounts, will, insurance policy or trust. You may gift a specific dollar amount, a percentage of your assets or the remainder after all other provisions are specified. Please use our legal name and tax ID number as the named beneficiary in your documents and estate plans: The T. Rowe Price Program for Charitable Giving 13-1709466.
If you intend to make the initial contribution to your giving account via this method, please inform us.
The advantage of this strategy is that your estate will receive an estate tax charitable deduction for the amount of the bequest. Prior to making the contribution, you may want to discuss this decision with your tax advisor or attorney to ensure that these assets are not needed for you or your family.
Why not contribute directly to the charity of my choice?
T. Rowe Price Charitable offers several features that may be relevant and advantageous to you in achieving your charitable giving objectives and strategies.
Specifically, our service offers you:
What is the IRS Form 8283?
The IRS Form 8283 is for the reporting of noncash charitable contributions by donors. The acknowledgement letter you receive after each contribution includes all the information necessary to complete the form, which is obtainable from the IRS website, IRS.gov. T. Rowe Price Charitable's tax identification number (31-1709466) should be included on the form. We are not required to sign the form.
Can anyone make contributions for the benefit of another person's giving account?
Yes, anyone can make a tax deductible charitable contribution for the benefit of any existing account. Independent donors (those not listed as a donor-advisor on an account) have no rights/privileges to the account and cannot personally benefit from their donation to T. Rowe Price Charitable or subsequent charity recipients.
What happens to a giving account when a donor-advisor is deceased?
Donor-advisors are encouraged to name successors and/or beneficiary organizations to their giving account to create a legacy of giving. Successors are individuals who will assume donor-advisor rights after the active donor-advisors are deceased. Charitable beneficiary organizations will receive the proceeds of a giving account after active donor-advisors are deceased.
If there is no successor or beneficiary named, T. Rowe Price Charitable will consider the account to be orphaned and follow these procedures:
Do the charitable contribution provisions of the 2020 CARES Act impact donations to T. Rowe Price Charitable?
No. Passed on March 27, 2020, the CARES Act includes provisions to encourage charitable gifts of cash; however, these changes do not apply to contributions to donor-advised funds such as T. Rowe Price Charitable.
Under the CARES Act:
Please consult your independent legal counsel and/or professional tax advisor regarding the CARES Act’s impact on your tax planning.
How do I support charities of my choice?
You recommend a grant disbursement from your giving account. Grants may be made to U.S. public charities, private operating foundations, and certain governmental entities. As a result of the Pension Protection Act of 2006, some supporting organizations are no longer eligible for a grant. The minimum grant disbursement is $100.
May I make a grant disbursement from my account as soon as it's established?
Yes, you may once your initial contribution to your giving account has been processed.
How long will it take for my recommendation to be considered?
All grant recommendations are reviewed by our professional staff.
The length of the review process is contingent upon:
Donors can follow the status of their grant recommendation via their online account access. You will be contacted if a recommendation cannot be approved.
Copies of grant letters sent to charities are archived in your online giving account.
Do you maintain a list of eligible charities?
No, we do not. U.S. charities in good standing with the IRS are eligible for grants.
These websites provide information to help you make smart choices about your charitable giving. You can research individual charities, as well as find resources, tips and articles about the charitable landscape.
The world's largest source of information on nonprofit organizations.
The nation's largest and most utilized evaluator of charities.
BBB Wise Giving Alliance
Produces reports about national charities, evaluating them against comprehensive Standards for Charity Accountability.
If my grant recommendation is approved, how will I be recognized?
We send a letter to the organization receiving a grant based on your recommendation. You can request that the letter in include your name as the advisor for the grant, the name of the account, and the address. Or you can remain anonymous. A copy of the grant letter is archived in your online account.
Why would a grant recommendation be turned down?
We make every effort to honor grant recommendations. Remember that grants must meet the following criteria:
Am I required to make a grant recommendation out of my giving account every year?
No. Each giving account is only required to distribute $250 in grant payments every five years. We will contact you if your giving account has not met this distribution minimum.
A giving account will be considered orphaned if the account has not generated a grant disbursement for five years and T. Rowe Price Charitable’s diligent attempts have been unsuccessful for 60 days in either locating the donor-advisor(s) or causing the donor-advisors(s) to recommend a grant. If the account has a named successor, then the successor shall become the primary donor-advisor. If the account has named charitable beneficiary organizations, then funds shall be disbursed to those beneficiaries.
Can the grant check be mailed to me so I can deliver it to the charity?
No, all grant checks are mailed directly to the recipient organization.
If you wish to make your recommendation known, you can authorize us to release your personal information in the grant letter that accompanies the check, or present your copy of the grant award letter to the organization.
Can I support charities after my lifetime?
You have two options for supporting charities beyond your lifetime:
1. Name beneficiary charities to receive the remainder of account assets in a lump payment.
2. Establish a charitable legacy plan to request an annual disbursement of account assets. You select one or more beneficiary organizations, the account duration time, and the annual distribution percentage. A $10,000 minimum account balance is required at the time of activation.
Can I make a grant recommendation to a foreign charity?
Direct grant disbursements can only be made payable to U.S. charities recognized by the IRS. If you wish to support charitable work outside the U.S., there are two options available:
1. Recommend a grant disbursement to a U.S. charity for their global work. You can specify the grant purpose if desired.
2. Recommend a grant disbursement to a U.S. intermediary charity that will pass the funds on to the designated foreign charity. Examples of intermediary charities include CAF America and King Baudouin Foundation United States (KBFUS). When using an intermediary, be sure to inquire if they work with your designated charity. Most list eligible charities on their website, as well as the fees* that apply.
Email Questions@trowepricecharitable.org with requests for assistance in creating your global giving strategy.
*T. Rowe Price Charitable has negotiated special rates for our donors with CAF America and KBFUS.
What is the General Giving Fund of T. Rowe Price Charitable?
The General Giving Fund accepts contributions on an unrestricted basis. This fund is used in making grants according to T. Rowe Price Charitable guidelines. It may also be used to cover administrative and overhead expenses of T. Rowe Price Charitable as a whole. Donations to the General Giving Fund are irrevocable and donors realize their allowable charitable tax deduction in the calendar year in which the donation is made. No donor interest in regard to investments or grants is established.
The General Giving Fund receives assets from: (1) gifts without donor-advised interests; (2) giving accounts where the advisory rights have lapsed or terminated; and (3) giving accounts from which no grant activity has been recorded in five years and efforts to communicate with the donor-advisors, successors, or beneficiaries have failed.
Why would I consider a gift to the General Giving Fund?
The General Giving Fund provides you with an immediate outlet or direction for your charitable donation. This strategy works best for individuals without a general interest in how their donation will be put to use or who do not have the time or desire to investigate and research appropriate charitable outlets. Grants using assets donated and placed in the General Giving Fund are determined by T. Rowe Price Charitable's Board of Directors.
What investment options are available?
We offer nine investment pools, each with a specific risk/return objective. The pools are composed of no-load mutual funds managed by T. Rowe Price.
The T. Rowe Price investment approach strives to achieve superior performance while considering risks incurred versus potential rewards. Click here for more detailed information on the investment pools. When you open your giving account, you recommend one or more pools in which to invest your contribution. You can request a change in your investment selection at any time with no fee.
Donor-advisors with a giving account balance of $5 million or above may request separate portfolio management for their fund account. This service offers an opportunity to recommend the account be invested in individual securities, bonds, and mutual funds. Please contact us for more information.
All investment pools and separately managed portfolios are subject to market risk, including possible loss of principal.
How do I find out how the investment pools are performing?
What are the fees associated with a giving account?
T. Rowe Price Charitable assesses an annual administrative fee on all donor-advised assets to help cover operating and administrative expenses. The prorated assessment is made on a daily basis and is reflected in the net asset value of each investment pool. Annual administrative fees are as follows:
|Account Balance||Administrative Fee|
T. Rowe Price Charitable has established service agreements with T. Rowe Price Associates, Inc., to manage the investment pools operated for the benefit of T. Rowe Price Charitable and its donors. Investment returns are net of expenses of the underlying mutual funds. Annualized expense ratios for the pools have generally ranged from 0.35% to 0.85%. Click here for the pool's annualized expense ratios as of the last quarter.
The total annual fees are the sum of the administrative and investment fees.
Accounts that are reduced to a zero balance through grant recommendation(s) within the first six months from account inception will be assessed an administrative fee of $500 prior to awarding the final grant.
Can my givng account assets be managed outside of the pool choices?
If your account has a balance of $5 million or more, you can take advantage of the personal attention and investment flexibility of private portfolio management through T. Rowe Price. Please call 1-888-462-4826 to inquire.
How should our charity acknowledge grants from T. Rowe Price Charitable?
Please do not send grant acknowledgements or tax receipts to T. Rowe Price Charitable. Your acceptance of the grant funds is all that is needed. Please do not add T. Rowe Price Charitable to your organization's mailing list.
Grants received should be listed as coming from T. Rowe Price Charitable. You may also include the name of the donor-advised fund or donor-advisor if included in the grant award letter you receive.
Can our charity send a thank-you letter to the donor-advisor who recommended the grant?
Our donor-advisors choose how they want to be acknowledged for each grant recommendation they make. They may choose to share their name, account name, and personal address. If the donor-advisor’s address in included in the grant letter, you may wish to send them an acknowledgement at their provided address. Donor-advisors should not receive a tax receipt from your charity.
If no address is provided by the donor-advisor, they do not expect a thank-you from your organization.
Please do not send any acknowledgments or other materials to T. Rowe Price Charitable. We do not forward correspondences received on to donor-advisors.
If you have further questions, please contact Questions@trowepricecharitable.org.
How can our charity be added to the eligible charity list?
Can grants be accepted by our charity for events and membership?
Grants from donor-advised funds may only be made for events or memberships if the donation is considered 100% tax deductible by the recipient charity and the donor-advisor receives no "personal benefit."