Friends Fiduciary’s Philanthropic Services division supports the fundraising efforts of Quaker organizations, which in turn strengthen and grow the Religious Society of Friends. In 2024, donors established over $2.1 million in charitable gift annuities to benefit Quaker organizations, made $635,200 in gifts to donor advised funds, and contributed $65,000 to endowment funds, all through Friends Fiduciary. We also processed 150 stock gifts totaling $1.7 million and benefiting Friends organizations and faith communities across the country.
But what does this mean for our fellow Quaker organizations? Planned gifts provide real financial support to Quaker organizations: last year, remainder gifts from Charitable Gift Annuities (CGAs) issued by FFC totaled $78,000, paid to 10 Quaker organizations including Friends schools, camps, colleges, life care communities, and Quaker organizations. Pooled Life Income, Donor Advised, and Endowment Funds held by FFC distributed an additional $1 million for various charitable purposes to Quaker non-profit beneficiaries. During 2024, fifteen meetings and organizations participated in FFC’s online giving program, resulting in donations of close to $113,000. By offering gift planning and administrative services, along with the effective socially responsible investment management of planned gifts and endowments, Friends Fiduciary plays an integral part in donors’ support of Quaker organizations.
In late 2024, the American Council on Gift Annuities, the national non-profit that determines CGA lifetime payment rates, reaffirmed the rate of return assumption that has been in effect since January 1, 2024. Maximum payout rates for charitable gift annuity contracts, which are currently at their highest level since 2007, will remain unchanged. The Council annually reviews rates, typically in the spring and fall, to determine if an adjustment is warranted.
Continuing high rates make this a particularly advantageous time to establish a charitable gift annuity because they provide donors lifetime income for a guaranteed annual amount. This amount is determined at the time the annuity is established and does not change. If you fund the annuity using shares that have appreciated in value, there are tax advantages as well.
An added, often overlooked benefit of establishing a CGA with Friends Fiduciary is that it can be an opportunity to realign your investments with your values. You can establish an FFC charitable gift annuity using shares of companies whose products or policies no longer reflect your values. While generating lifetime payments to you, the donated assets are invested consistent with FFC’s (and your) Quaker values.
Please note, if your Quaker faith community or organization includes ACGA rates in your planned giving materials or on its website, be sure that they have been updated to reflect current values. Rates can be found on the FFC website, under “Ways to Give,” or by visiting www.acga-web.org.
Friends Fiduciary makes giving easier by offering several resources and services to facilitate giving to Quaker meetings, churches, and organizations. These range from semi-customizable giving webpages and online donation portals to printed and electronic materials that can help inspire giving within your community. Our team is also available for in-person and virtual presentations. There is no out-of-pocket expense or contractual obligation for your organization, and it’s easy to get started: simply contact Mimi Blackwell.
Friends Fiduciary also supports fellow Quaker organizations in its capacity as a grant-making institution. Friends Fiduciary serves as trustee for more than 80 granting trusts representing assets of over $70 million. A few trusts held by Friends Fiduciary provide discretion in how funds may be distributed. In those instances, a discretionary granting committee considers requests for funds and how the funds should be used. In 2024, FFC granted over $200,000 that supported 24 initiatives benefiting Quaker organizations across the country. Please visit the FFC website’s “Grants & Scholarship” section for more details.
Friends Fiduciary staff continues our work to build and foster relationships with Quaker organizations and faith communities. For planned giving support that meets your unique needs as a donor or Quaker organization, contact Mimi Blackwell, Director of Philanthropic Services, at mblackwell@friendsfiduciary.org or 215.241.7272, to learn more.