National Philanthropic Trust and J.P. Morgan Enable New Pathway for DAF Giving to Children's Investment Accounts
National Philanthropic Trust (NPT) has partnered with the J.P. Morgan Charitable Giving Fund program to create a new pathway allowing donor-advised funds (DAFs) to contribute to Trump Accounts, tax-advantaged investment accounts designed for children. This initiative was launched at the request of Brad Gerstner, founder and CEO of Altimeter Capital, who is also recognized as one of the key architects behind Trump Accounts. Through his family foundation hosted by NPT, Gerstner has pledged $250 to Trump Accounts for over 140,000 Hoosier children born in Indiana between 2023 and 2024 from families with a median income of $150,000 or less. The Treasury Department and IRS have confirmed that DAF distributions can be used to fund Trump Accounts as part of charitable contributions. NPT provided the legal framework necessary for this initiative by aligning federal regulations governing both DAFs and Trump Accounts. This collaboration is seen as a model for other donors seeking innovative ways to use philanthropic capital effectively, particularly in supporting long-term financial opportunities for children. This development highlights how philanthropy can evolve with new legislative tools like the One Big Beautiful Bill Act (OBBBA), which established Trump Accounts under federal law.
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Topics: DAFs (Donor-Advised Funds) Education Funding Philanthropy Trump Accounts