- Trust and Gift Annuity Services
- Assets Management & Online Account Access
- Common Questions about Existing Trusts and Gift Annuities
Trust and Gift Annuity Services
Our office is here to serve you. If you have questions about your existing trust, gift annuity, Tufts Income Fund investment or other planned gift, please let us know. We are happy to speak with you and your advisers to ensure that the gift is meeting your needs.
- Assets Management and Online Account Access
- Learn about Kaspick & Company, Tufts’ partner in managing its gift planning assets, and find out how to get online access to your Tufts-trusteed charitable trust account.
Common Questions about Existing Trusts and Gift Annuities
Have a question about your trust or gift annuity? You might just find the answer here (but you can always contact our office personally).
Update Personal or Banking Information
Have you changed banks? Has your bank merged with another? Have you moved or are you now living at a seasonal address? Gift annuitants and Tufts-trusteed charitable trust beneficiaries should contact (link to “Our Team” page) Gift Planning Office to ensure that you continue to receive your income in a timely manner.
Assets Management & Online Account Access
Tufts University partners with Kaspick & Company to invest and administer all of the charitable remainder and charitable lead trusts that our donors have asked us to trustee. Kaspick & Company also manages the assets in the Tufts Income Fund and all of the assets for Tufts’ gift annuities. With more than $2 billion under management, this company is responsible for one of the largest portfolios of planned gifts in the country and is widely regarded as an industry leader.
Online Account Access
Want to check the performance of your Tufts-trusteed charitable trust from your desktop? You can now access your account online through Kaspick & Company's Web site! If you are interested, contact our office for a login name and password.
Assets Management
The strength of their investment team is one of the many reasons Tufts University partners with Kaspick & Company to manage its gift planning assets:
Charitable Remainder Trusts and Charitable Lead Trust
We work with Kaspick & Company's investment team to develop a broadly diversified mix of assets for each trust that we trustee, designed to meet that trust’s specific objectives. The portfolios typically include large cap and small cap domestic stocks, international and emerging market stocks, as well as REITs. We seek as much appreciation potential as possible, taking into account all the risks, your specific situation (or your beneficiary’s), the trust type, and the payout rate. We consider the likely impact of the portfolio mix on your after-tax income and the trust’s remainder value. Kaspick & Company has a proven track record of producing competitive returns while reducing volatility and providing a good after-tax outcome for beneficiaries. Through Kaspick & Company, we invest each trust in its own separate account. This structure permits flexibility in design, daily valuation of portfolios, immediate investment of new gifts, and calculation of investment performance between any two dates.
Gift Annuities
Gift annuities at Tufts are currently invested directly by the university in an array of bonds and income-producing investments. We are in the process of transferring these assets into management by Kaspick & Company, and anticipate that this move will ultimately result in your gift making an even greater impact on the university. Please note that the change in management of these assets will have no impact on your income – all gift annuitants receive a guaranteed, fixed income for life.
Tufts Income Fund
The Tufts income fund is managed by Kaspick & Company and invested in a diversified portfolio with a focus on income achievement.
Common Questions about Existing Trusts and Gift Annuities
- My gift annuity is set up to direct deposit into my banking account, but I think I am missing the most recent quarterly payment.
- My quarterly gift annuity payment has not arrived in the mail. Where is it?
- How will I or my adviser know what to report on my income tax return?
- Can I access my trust online?
- Someone other than Tufts currently trustees my charitable trust. Can I change that and make Tufts my trustee?
- I don’t really need the income from my trust/gift annuity/Tufts Income Fund investment. Can I give it back to Tufts?
My gift annuity is set up to direct deposit into my banking account, but I think I am missing the most recent quarterly payment.
Has your bank merged with another bank recently? Or have you switched banks or closed accounts recently? If so, you may need to update your banking information (link to new banking information form) in order to continue receiving your payments via direct deposit. Contact us as soon as possible in order to resolve this issue.
For most of our gift annuities, we typically begin the funds transfer for direct deposited payments on March 29, June 29, September 29, and December 29. The payment should clear within a day or two, but should never take more than a week. If your banking information has not changed and your payment is over a week late, contact our office immediately.
My quarterly gift annuity payment has not arrived in the mail. Where is it?
Has your address changed or are you at a seasonal home? If you receive your payments through the mail, it is important to make sure that we have your most up-to-date address information (link to address update form). For most gift annuities, we typically mail the checks on March 30, June 30, September 30 and December 30. It should not take longer than a week for you to receive your check. If your address information is up-to-date and your payment is over a week late, contact our office immediately.
How will I or my adviser know what to report on my income tax return?
You will receive a K-1 (trusts) or a 1099 (gift annuities) early each year, noting what income you received and how it will be taxed.
Can I access my trust online?
If Tufts is the trustee of your charitable trust, the answer is a resounding ‘yes!’ Contact our office to obtain a login name and password to access your account on Kaspick & Company’s Web site.
Someone other than Tufts currently trustees my charitable trust. Can I change that and make Tufts my trustee?
Yes! As long as Tufts University is the recipient of at least 50% of the remainder interest, Tufts would be happy to assume trusteeship of your charitable remainder unitrust. If we are the recipient of at least 50% of the income benefit, we are also happy to trustee your charitable lead trust. Kaspick & Company offers a good resource to help you think through the issues related to selecting a trustee (Click to download PDF)
I don’t really need the income from my trust/gift annuity/Tufts Income Fund investment. Can I give it back to Tufts?
Yes! And you will receive a charitable income tax deduction for doing so! Many donors establish a planned gift in case they need the income stream, and then ultimately find that they do not. If this is the case for you, you can either give individual payments or distributions to the university one at a time, or you can terminate your trust or gift annuity and give the remaining interest to Tufts. Let us know if would like to explore this option.
