Cardinal Capital Partners with TCF
Offers Clients Enhanced Charitable Giving and Tax Planning Tools
Research Triangle Park, N. C. (January 29, 2007) – Cardinal Capital Management, a Raleigh-based financial advisory firm, has entered into a partnership with the Triangle Community Foundation, an organization that connects philanthropic resources with community needs.
Under the terms of the partnership, the firm’s clients can establish donor-advised funds at the Foundation while continuing to have Cardinal Capital manage those assets until they are directed to charitable causes the client recommends.
Using appreciated securities, cash, real estate, closely-held stock or other assets, clients can make a charitable contribution into a fully invested donor-advised fund which will be tax-deductible in the year of gifting.
“Each year many of our clients make charitable gifts with appreciated securities, and this partnership will help ensure everyone receives the maximum benefit for that generosity,” noted Glenn Andrews, President, Cardinal Capital Management.
Andrews added, “The donor avoids capital gains taxes, the portfolio manager can make portfolio adjustments without tax consequences and the receiving charity frequently receives a larger gift than they might otherwise.”
“We’re pleased to add Cardinal Capital to the roster of Foundation partners,” said Andrea Bazán-Manson, President, Triangle Community Foundation. “It’s heartening to see the personal commitment they’ve made to increasing philanthropy in the region. We look forward to working closely with Cardinal to inform their clients about the many charitable giving options open to them.”
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