The U.S. Legacy Income Trusts® (Legacy Income Trusts) are next-generation charitable planned-giving instruments established by the U.S. Charitable Gift Trust® (Gift Trust), a tax-exempt public charity offering donor-advised funds. The Legacy Income Trusts and the Gift Trust are sponsored by Eaton Vance Management (Eaton Vance), a longtime leader in wealth management solutions. Eaton Vance is part of Morgan Stanley Investment Management, the asset management division of Morgan Stanley.
The Legacy Income Trusts provide Donors contributing cash and/or acceptable securities with the opportunity to:
- Avoid recognition of capital gains on contributions of appreciated assets
- Receive a federal income tax deduction based on the charitable remainder portion of the contribution value
- Provide monthly distributions of tax-advantaged income for life to up to ten individual income beneficiaries designated by the Donor
- Make grants to qualified charitable organizations selected by the Donor or his or her designee following the death of the last-surviving of the Donor's individual income beneficiaries
U.S. Charitable Gift Trust Heritage Pooled Income Fund Donors can access performance reports by logging into their account, or by contacting Renaissance Philanthropic Solutions Group, the administrator of the U.S. Charitable Gift Trust, at 1-844-898-0800 or by email at firstname.lastname@example.org.
To comply with federal law applicable to pooled income funds, the Legacy Income Trusts will not accept contributions of federally tax-exempt securities or shares of funds holding federally tax-exempt securities. The Legacy Income Trusts will also not accept contributions of securities that have been held by the Donor for one year or less. Subject to the approval of Eaton Vance Trust Company (Trustee), the Legacy Income Trusts may accept certain privately held or restricted stock. All transferred property must be free and clear of any liens, encumbrances or other adverse claims. Depending on the Donor’s relationship to his or her designated income beneficiaries, a contribution to a Legacy Income Trust may have federal gift or estate tax consequences for the Donor; naming certain individuals as income beneficiaries may also have federal generation-skipping transfer tax implications for the Donor or income beneficiaries. See “Tax Considerations” in the Legacy Income Trusts’ current Information Statement (Information Statement).
All grants are subject to the determination of the Gift Trust that the grant recipient is a qualified charitable organization and that the grant otherwise meets all applicable legal requirements.
Grants to qualified charitable organizations are made through the donor-advised fund sub-account of the Gift Trust (Charitable Account) into which a Donor's Legacy Income Trust account converts.