Charityvest adds ETF investments to donor-advised funds

Related Topics

Charityvest, a modern provider of tax-deductible charitable giving accounts known as donor-advised funds (DAFs) in the US, has announced the introduction of new low-fee investment capabilities.

The firm writes that the new investment capabilities will enable donors in their community to invest their charitable balances across efficient robo-advised portfolios featuring ETFs from Vanguard and Blackrock.

In conjunction with the new investment capabilities, Charityvest announced an additional USD2.2 million in seed round financing. The additional financing brings Charityvest’s total capital raised to USD5.9 million and will be used for mobile app development, community giving features, initial support for advisors, and accelerating partnerships for growth. 

Investors in this extension round include Rick Jackson, CEO of Jackson Healthcare, DURO VC, and Ba Minuzzi, CEO of UMANA Family Office.

The firm explains that donor-advised funds have become increasingly popular in recent years, as they provide an efficient way to plan for and manage charitable giving. The firm writes that Charityvest makes it simple to open and start using a DAF. Users can make tax-deductible contributions of cash, stock, or cryptocurrency into their fund, and direct funds to over 1.4 million non-profits in the US, while keeping their giving on a single consolidated tax receipt. With the introduction of Charityvest’s new low-fee portfolios, users can invest their remaining balance for tax-free growth to give more to charity over their lifetime, with all-in fees 50 per cent lower than the leading provider in the DAF space, the firm says.

“I started this company out of a conviction that more technology was needed to help people give purposefully in ways that integrate well with their lives. Today we are delivering donor-advised funds, a traditionally complex tool, in more delightful ways with lower fees, and we are excited about the capabilities we can build on top of our strong technical foundation from here,” says Stephen Kump, CEO of Charityvest. “I’m thrilled our investors share our beliefs, and with the new seed funding, coupled with the new investment options, we are excited for what the future holds.”


Author Profile