United Way of Massachusetts Bay and Merrimack Valley Collaborates with U.S. Charitable Gift Trust to Introduce United Way Legacy Income Trusts, a New Planned-Giving Option for Donors

October 26, 2020

BOSTON, October 26, 2020 – United Way of Massachusetts Bay and Merrimack Valley (UWMB) today announced that it is collaborating with the U.S. Charitable Gift Trust® (Gift Trust), a tax-exempt public charity offering donor-advised funds, to establish the United Way Legacy Income Trusts (UWLITs) as a new planned-giving option for donors to help ensure the long-term health and resilience of the communities served by UWMB.

UWLITS are custom series of U.S. Legacy Income Trusts designed to provide long-term support of the mission and programs of UWMB, while assisting its donors in achieving personal financial objectives that may include lifetime income, longevity risk protection, portfolio diversification and generational wealth transfer. Launched by the Gift Trust in 2019, U.S. Legacy Income Trusts are next-generation charitable planned-giving instruments organized as pooled income funds of the Gift Trust.  The Gift Trust and U.S. Legacy Income Trusts are sponsored by Eaton Vance Management, an affiliate of Eaton Vance Corp. (Eaton Vance) (NYSE:EV).

We are proud to work with U.S. Charitable Gift Trust and Eaton Vance to complement and support our efforts to meet the needs of our most vulnerable residents and build thriving, equitable communities,” said Bob Giannino, President and Chief Executive Officer at UWMB.  “Introducing the United Way Legacy Income Trusts gives us the opportunity to increase our planned-giving fundraising by introducing a new giving option with compelling donor benefits.”

“We are pleased to partner with the United Way of Massachusetts Bay and Merrimack Valley to introduce the inaugural custom series of the U.S. Legacy Income Trusts,” said Lawrence L. Fahey, President of the Gift Trust.  “U.S. Legacy Income Trusts provide distinctive benefits to donors and not-for-profit institutions alike, comparing favorably to charitable remainder trusts, charitable gift annuities and other charitable life-income instruments.”

 About U.S. Charitable Gift Trust

Established in 2000, U.S. Charitable Gift Trust is a tax-exempt public charity offering donor-advised funds.  The Gift Trust receives charitable gifts from individuals, corporations and other donors, and then makes grants to qualified charities recommended to the Gift Trust by donors and others authorized to make grant recommendations. The Gift Trust was established to enable donors to support a broad range of charities over time without incurring the costs and administrative burdens associated with creating and operating separate charitable foundations. All gifts made to the Gift Trust are under the exclusive legal control of the Gift Trust and its board of directors. For more information about the Gift Trust, visit uscharitablegifttrust.org.

 About Eaton Vance

Eaton Vance provides advanced investment strategies and wealth management solutions to forward-thinking investors around the world. Through principal investment affiliates Eaton Vance Management, Parametric, Atlanta Capital, Calvert and Hexavest, the Company offers a diversity of investment approaches, encompassing bottom-up and top-down fundamental active management, responsible investing, systematic investing and customized implementation of client-specified portfolio exposures. As of September 30, 2020, Eaton Vance had consolidated assets under management of $517.0 billion. Exemplary service, timely innovation and attractive returns across market cycles have been hallmarks of Eaton Vance since 1924. For more information about Eaton Vance, visit eatonvance.com.

About United Way of Massachusetts Bay and Merrimack Valley
United Way of Massachusetts Bay and Merrimack Valley is fighting for the financial stability and educational success for people in need in 153 communities across the region served.  No other organization has the deep partnerships with nonprofit organizations, government, corporations, foundations and individuals to provide resources and expertise where they are needed most.  UWMB’s powerful network has the depth and scale to help ensure families have safe, affordable housing, jobs that allow them to support themselves, and access to financial tools and coaching to help build a better future. Recognizing that educational success is a strategy to break the cycle of poverty, UWMB is also focused on preparing young children to enter school, providing critical social and emotional skills and ensuring youth have the support they need to stay in school and graduate. For more information about UWMB, or to get involved, visit www.unitedwaymassbay.org.

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