Press Release – Boston, MA, November 27, 2017 – The U.S. Charitable Gift Trust® (USCGT), announced today the addition of three responsible investing funds managed by Calvert Research and Management (Calvert), a subsidiary of Eaton Vance, as investment options in its Donor Advised Funds. The USCGT is a tax-exempt public charity that offers a range of planned giving vehicles through its Donor Advised Funds and Pooled Income Funds. Individuals interested in donating to charity through tax-deductible contributions to the Donor Advised Funds now have the option to invest in the following Calvert funds:
- Calvert Responsible Investing Conservative Fund: Seeks to provide current income and capital preservation and, as a secondary objective, long-term capital appreciation.
- Calvert Responsible Investing Moderate Fund: Seeks to provide current income and moderate long-term capital appreciation.
- Calvert Responsible Investing Growth Fund: Seeks to provide high long-term capital appreciation and, as a secondary objective, current income.
“We are excited to offer individuals and families an expanded set of investment choices to help them align their investments with their values,” said Jeffrey P. Beale, USCGT President. “Through the Calvert responsible investing funds, donors can increase the positive impact of their gift while maintaining broad portfolio diversification.”
The USCGT, established in 2000, helps individuals and families to realize their charitable goals while receiving tax benefits from gifts. Donor advised funds have been steadily growing in size and popularity over the last few years with contributions to reaching an all-time high of $22.26 billion in 2015.* Simultaneously, responsible investing is gaining traction with $8.72 trillion in assets under management in socially responsible strategies in the U.S. at the start of 2016.**
“Many advisors are working with their clients to determine the most effective ways to positively affect society, while managing the tax implications on portfolios,” said Mr. Beale. “We are pleased to be able to offer philanthropists new, increasingly popular responsible investing options that meet their needs and advance their giving objectives,”
According to Eaton Vance’s most recent Advisor Top-of-Mind Index (ATOMIX) survey, 93% advisors indicated charitable giving is a topic of conversation with their clients. Seven in ten (69%) advisors are discussing how donations fit within their clients’ overall plans, while 63% said they discuss the tax implications of charitable contributions. Advisors also indicated that the primary reason their clients select responsible investing strategies is the desire to align investments with their values.
When individuals make a donation within the USCGT’s Donor Advised Funds, they have the option to invest in a range of investment funds managed by Eaton Vance Management, its affiliates, and Calvert Research and Management. Once an investment is made, the earnings of the Donor Advised Fund account may grow tax-free while the individual chooses which charities to support. The suite of Calvert funds will invest in a diversified mix of Calvert investment companies, each of which generally implement the Calvert Principles for Responsible Investment that guide the investment research and decision-making process. Since inception, the USCGT has raised more than $1.049 billion in contributions and gifted more than $640 million to charities.
*National Philanthropic Trust’s 2016 Donor-Advised Fund Report
**U.S. Sustainable, Responsible and Impact Investing Trends 2016, US SIF Foundation
About USCGT
The USCGT is a tax-exempt public charity established in 2000 which receives donations from individuals, corporations and others, and makes grants to numerous charitable organizations throughout the United States, including charities selected by the USCGT and those recommended to the USCGT by donors and others authorized by the donor to make grant recommendations. The USCGT was established to provide support to a broad range of charities over time, without incurring the costs and administrative burdens associated with the creation and operation of separate charitable foundations, while at the same time allowing donors to determine when and how to make their charitable gifts. All gifts made to the USCGT are under the exclusive legal control of the USCGT and its board of directors. For more information about USCGT, visit uscharitablegifttrust.org.
About Calvert
Calvert Research and Management is a leader in Responsible Investing, with approximately $10.7 billion of mutual fund and separate account assets under management as of October 31, 2017. The company traces its roots to Calvert Investments, which was founded in 1976 and was the first to launch a socially responsible mutual fund that avoided investment in companies that did business in apartheid-era South Africa. Today, the Calvert Funds are one of the largest and most diversified families of responsibly invested mutual funds, encompassing actively and passively managed strategies, U.S. and international equity strategies, fixed-income strategies and asset allocation funds. Calvert Research and Management is a wholly owned subsidiary of Eaton Vance. For more information, visit calvert.com.
About Eaton Vance
Eaton Vance (NYSE: EV) is a leading global asset manager whose history dates to 1924. With offices in North America, Europe, Asia and Australia, Eaton Vance and its affiliates managed $422.3 billion as of October 31, 2017, offering individuals and institutions a broad array of investment strategies and wealth management solutions. For more information, visit eatonvance.com.
