March 18, 2015

    New: The MassMutual Trust Company Charitable Giving Program Now Available

    New: The MassMutual Trust Company Charitable Giving Program Now Available

    Donor advised fund offered in conjunction with Renaissance Charitable Foundation, Inc. to support consumers’ ongoing charitable goals

    ENFIELD, Conn., March 18, 2015 - The MassMutual Trust Company today announced a new Charitable Giving Program (MM Trust Giving Program), a donor advised fund in partnership with Renaissance Charitable Foundation, Inc. (RCF).  RCF is a tax-exempt 501(c) (3) public charity.  

    “We’re excited about the launch of the MM Trust Giving Program, which offers consumers a simple and flexible way to achieve ongoing charitable giving goals while also helping to secure future financial plans,” says Joe Rokowski, President and Chief Operating Officer of the MassMutual Trust Company. “Donors have access to our experienced financial professionals who can provide customized solutions based on each person’s unique situation, needs and goals.” 

    The MM Trust Giving Program helps consumers support their ongoing charitable goals while also playing a role in an overall wealth management plan. Donating to the MM Trust Giving Program using cash, life insurance proceeds and/or publicly traded stocks, bonds or mutual funds offers the following benefits:

    • Secure and Convenient Online Access – Through a secure password system that only the donor and designated advisors have access to, there’s an option to conveniently review comprehensive account information, research charitable organizations and create grants.
    • Immediate Tax Deductions – Donations to the fund are eligible for a tax deduction in the year that they are made. Unused tax deductions can be carried forward for up to five additional years.
    • Flexible Timeframes – Donors can realize immediate tax advantages and recommend grants to selected charities at any time, eliminating the pressure to select and donate to a charity by year-end.
    • Anonymous Giving – Consumers can choose to make charitable grants anonymously, keeping personal information confidential.
    • Simplified Recordkeeping – Participants receive quarterly account statements, gift receipts and IRS-ready tax information.
    • A Legacy of Trust -- Giving to the MM Trust Giving Program helps consumers establish a legacy of giving. Donors can name account advisors and successors who can recommend grants beyond one’s lifetime.

    “Charitable giving allows people to become benefactors to the causes they value most by providing funds that enable organizations to accomplish their goals,” says Rokowski. “At MassMutual, we value making a difference throughout communities across the country, and we’re proud to offer a personalized solution that provides our clients the opportunity to make a more meaningful philanthropic impact on the organizations they hold dear.”

    Donations to the fund are invested under the management of The MassMutual Trust Company (MM Trust), offering the potential to grow donations tax-free over time and enhancing consumers’ ability to make larger future grants to charity.  When an initial donation of a minimum of $5,000 is made – donors must select one of five predefined strategic investment models – ranging from conservative to more aggressive. Subsequent donations of at least $1,000 can be made at any time after the initial donation.

    Subject to approval by RCF, donors can provide grants from the fund to qualified charitable organizations, including 501(c) (3) and 509(a) public nonprofit, private operating foundations, religious and educational institutions and foreign charitable organizations. The minimum grant amount a donor can request is $250.

    Consumers should speak with their financial professional, call 1-800-876-9661 or visit www.massmutualtrust.com to learn more about how The MassMutual Trust Company Charitable Giving Program can be an important planning tool to help accomplish charitable goals.

    The information provided is not written or intended as tax or legal advice. Please consult your tax and legal advisors to determine how this information may apply to your own situation.

    The MassMutual Trust Company, FSB is a federal savings bank chartered by the Office of the Comptroller of the Currency to provide discretionary and nondiscretionary trust and fiduciary services in all states. The MassMutual Trust Company is a wholly owned subsidiary of Massachusetts Mutual Life Insurance Company.

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