At a Glance: National Philanthropic Trust
April 23, 1998 | Read Time: 1 minute
Purpose: Established in 1996 by the Pitcairn Trust Company in Jenkintown, Pa., to help donors give cash and appreciated assets to charity. Donors to the non-profit trust — which is set up much like a community foundation, although it does not focus on any one geographic region — can take a tax deduction for gifts. In turn, the trust will use the assets to set up a fund, usually in the donor’s name. Donors can then recommend how they would like their gifts to be distributed to charity.
Finances: The trust has $12.2-million in assets. Pitcairn has spent as much as $1-million for start-up and administrative costs, although the trust plans to pay that money back through management fees over a five-year period.
Sources of funds: The trust accepts donations of no less than $100,000. It has 19 donor-advised funds, one pooled-income fund, and one fund dedicated to the preservation of coral reefs.
Key officials: Clark D. Pitcairn, president; Eileen Heisman, vice-president; C. Wolcott Henry III, chairman of the board.
Address: 165 Township Line Road, Suite 3000, Jenkintown, Pa. 19046-3593; 888-878-7900.
World-Wide Web site: http://www.nptrust.org