In 2019, we launched our NexGen Fund – a vehicle designed to create family conversations about giving. By teaching the next generation about the importance of philanthropy, we can work together to establish a legacy of generational giving.
Since our NexGen Fund is the newest addition to our fund lineup, you may have a few questions about how it operates. This powerful tool is flexible, affordable and fun!
You can use the NexGen Fund to create a giving account for a minor.
As its name alludes, the NexGen Fund raises a new generation of givers. To get started, you or a family member can create a fund in a child, grandchild or godchild’s name regardless of age. Upon telling them about their fund, use this opportunity as a time to share the importance of giving and discuss causes and organizations that are important to them to gain insight into their future giving.
The fund-holder gains full access once they’re of age.
After you’ve created an account, the fund is available for use at any time. Depending upon the amount you’ve invested, the fund could appreciate as the child ages. Once they’re of legal age, they gain full access to their fund and are able to give as they desire. One idea if you’d like to make giving a family affair is to sit down at holiday dinners or birthdays and discuss recent gifts you’ve given to local organizations or causes. This can inspire giving and possibly spark new ideas in your loved one for giving recipients!
You don’t have to hit the same giving threshold.
Another bonus of the NexGen Fund is that there is no threshold to start the fund. For example, our usual investment threshold to create a donor-advised fund is $2,500. However, there’s no minimum to create a NexGen Fund!
With these perks, what are you waiting for? Give us a call at 901-682-6201 to establish a NexGen Fund and begin fostering your giving legacy today.