Cornell University serves as trustee for charitable remainder trusts and charitable lead trusts and administers other gift arrangements such as pooled income funds and charitable gift annuities. Cornell's Office of Trusts, Estates, and Gift Planning has been managing all aspects of various life income gifts for alumni and friends since the Tax Reform Act of 1969.
Managing Charitable Gift Annuities
The assets of Cornell’s gift annuities are managed by the Cornell University Investment Office, our professionally staffed investment office that manages the university's endowment assets. Cornell University's Office of Trusts, Estates, and Gift Planning has contracted with BNY Mellon Wealth Management to manage the administrative aspects of gift annuities, and a Cornell staff person serves as an interface between BNY Mellon and Cornell to ensure that every beneficiary receives timely payments and tax information.
Managing Charitable Remainder Trusts
Charitable remainder unitrusts and charitable remainder annuity trusts can be managed in one of two ways: Cornell can manage trust assets according to the same investment strategy as the university's endowment assets, an option which might appeal to donors interested in an active, more aggressive investment strategy. Alternatively, donors can have their trust assets managed by BNY Mellon Wealth Management in conjunction with Cornell's Investment Office in a traditional strategy consisting of commingled funds providing an equity and fixed income component.
A gift planning specialist from the Office of Trusts, Estates, and Gift Planning meets with each donor to help determine which investment opportunity best suits the donor's individual needs. Either way, you can be assured that the professional staff at Cornell University is overseeing each investment program and will ensure that your trust operates smoothly and that you receive timely payments and tax information.
One of Cornell's trust officers can answer any questions you may have. Please do not hesitate to contact us direct by e-mail at firstname.lastname@example.org or call toll free 800-377-2177.