The U.S. Trust of North Carolina is creating a new unit dedicated to planned giving and endowment programs for nonprofits, The Business Journal of Greensboro reports.
The new Charitable Client Group will provide planned giving administration and strategic investment services for N.C. nonprofits, according to Steve Hassenfelt, CEO of the Trust.
The firm, which has handled endowments for the last 10 years, established a separate group in response to the $10 trillion wealth transfer currently underway between the baby boomer generation and its parents, the Journal reports.
“We’re taking our expertise and carving it into a separate client unit,” said David Routh, a U.S. Trust senior vice president who will head the group.
David Winslow, whose firm The Winslow Group helps N.C. nonprofits raise funds, said the U.S. Trust can build powerful connections between potential donors and worthy causes, maximizing nonprofit contributions. “They have their fingers on the pulse of a lot of folks who have the money,” Winslow said.