Consilium offers philanthropic solution
Consilium has entered a partnership with The Gift Trust.
It will mean that money destined for charity can be grown, tax-free, and donated over time.
“Traditionally, a budding philanthropist would either give directly to a charity or set up a grant making foundation. Today, donors in other countries are flocking in large numbers to an alternative giving vehicle – Donor Advised Funds (DAF), a giving account held by a not- for-profit. This new partnership will offer this in New Zealand for the first time,” Consilium said.
A DAF is like a savings account for donations – the equivalent of a “personal foundation”, but without the administrative hassle. A donor places a donation into their giving account and can take an immediate tax credit deduction. The donor can then choose which charities they would like to make grants to, and when.
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