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RCF Giving Fund

From Giving Fund to RCF Giving Fund:
Continuing Your Legacy of Giving

While TIAA Charitable will end its administration of donor-advised funds (DAFs) and wind down operations, its commitment to supporting clients and their philanthropic values is enduring. As such, we at Renaissance Charitable Foundation (RCF) are honored to take over administration of the Giving Fund accounts. With this change, the TIAA Charitable Giving Fund will become the RCF Giving Fund, a new donor-advised fund, sponsored by Renaissance Charitable Foundation. With RCF Giving Fund, traditional DAF accounts will still be invested through TIAA, and donors can continue to make contributions and recommend grants to favorite charities—but these transactions will be administered by RCF.

RCF has been a proud partner to TIAA Charitable since 2016, providing third-party back-office administration and technology services to Giving Fund donors and advisors. Established in 2000, RCF is a 501(c)(3) public charity that operates private-label donor-advised fund programs for many of the nation’s most prominent financial services and philanthropic organizations. In partnership with RenPSG, an end-to-end philanthropic technology innovator, we granted $2.38 billion to charity in 2019.

In this next chapter, we are honored to have the opportunity to continue supporting your philanthropic values and ambitions, and we are committed to providing you with the exceptional service that you have come to expect. Please let us know what we can do to assist you during this period of transition – below you will find answers to several frequently asked questions, as well as links and contact information.

Will The RCF Giving Fund be exactly the same as The Giving fund?

The RCF Giving Fund and your original Giving Fund are both driven by the same technology platform, so they will look very similar!
But there are differences:

  • 1. The RCF Giving Fund will have a new online link and log-on credentials that will be sent to you March 15, 2021

    While TIAA Donors can still open new accounts, contribute to existing, and make grant charitable grant requests to charity – it will be from a new online link that will be sent to you, with log-in credentials, on March 15 2021.

  • 2. Traditional DAF accounts maintain a minimum account balance of $5,000 and have a similar fee schedule as before

    Each RCF Giving Fund will be assessed an administration fee. The fee will be assessed pro rata on a quarterly basis. The fee structure and Giving Fund balance will generally be calculated using the average daily balance and will impact the amount available for grants. Fees are based on the total Giving Fund balance, as follows:

    • Balances up to $500,000 = 0.60% or $250, whichever is greater
    • Next $500,000 (balances $500,001-$1,000,000 = 0.30%
    • Next $1,500,000 (balances $1,000,001 - $2,500,000) = 0.20%
    • Additional assets over $2,500,000 (balances over $2,500,000) = 0.15%

    They will have the same TIAA investment options – and two Social Impact investment options: TISCX – the TIAA-CREF Social Choice Equity Fund and TSBIX – the TIAA-CREF Social Choice Bond Fund. For complete details, including investment options and fee schedules, download the RCF Giving Fund Circular.

  • 3. NEW! Those who have DAF Accounts with less than $5,000 will have access to our NEW MyDAF account

    Brand new for 2021, our MyDAF is a giving product designed to support a whole new generation of donors in their philanthropic and charitable endeavors, with features that include:

    1. Initial contributions as low as $50 and no minimums on additional contributions

    2. Support for ACH and Credit Card processing

    3. No minimum account balance – all in cash, with real-time value

    4. Grants for as little as $5

    5. 100% donor self-service

    6. Community and gamification

    7. Highly affordable – with fees starting at just $1.25 per contribution and $7.95 per month

    Learn more about MyDAF Accounts by downloading our program overview brochure.

RCF Giving Fund Fee Schedule:

Each RCF Giving Fund will be assessed an administration fee. The fee will be assessed pro rata on a quarterly basis. The fee structure and Giving Fund balance will generally be calculated using the average daily balance and will impact the amount available for grants. Fees are based on the total Giving Fund balance, as follows:

  • Balances up to $500,000 = 0.60% or $250, whichever is greater

  • Next $500,000 (balances $500,001-$1,000,000 = 0.30%

  • Next $1,500,000 (balances $1,000,001 - $2,500,000) = 0.20%

  • Additional assets over $2,500,000 (balances over $2,500,000) = 0.15%

MyDAF Account Fees:
  • MyDAF Account Fees: $7.95 per month / $1.25 per contribution

Will all account information transfer from TIAA Charitable to RCF?

The name of your Giving Fund account and all active participants will transfer to RCF.  Participants, including your Wealth Management Advisor, will be given the same level of access to the RCF Giving Fund as they had with the TIAA Charitable Giving Fund. Please contact us if you wish to change the level of account access provided to your Wealth Management Advisor.

**Based on feedback we’ve received from several donors, we now plan to transition grant history from TIAA Charitable to RCF to make future granting easier for donors. Other historical transactions, such as contributions, will continue to be available on the TIAA Charitable Giving Fund portal. Additionally, active recurring grants will not transfer to RCF and must be submitted once your RCF Giving Fund account is active.

What do I need to do next?

If you currently have a TIAA Charitable Giving Fund account, you do not need to take any further action. Your account will be automatically transferred after March 7, 2021, and you will receive a new link and log-on credentials on March 15, 2021. Please note that your TIAA Charitable Giving Fund account will be available for VIEW ONLY access from March 8, 2021 through March 31, 2021. During this time you can review historical data and download statements for your records. Please be sure to download all needed records or statements by March 31, 2021. The new RCF Giving Fund will not have access to historical data or transactions from the TIAA Charitable Giving Fund.