Jenkintown’s National Philanthropic Trust takes wildly odd assets and converts them to donatable cash

National Philanthropic Trust, an independent charity based in Jenkintown, was recently featured in Financial Advisor Magazine for its share of unusual bequeathals. The list includes a chain of adult bookstores, a collectible set of surfboards, and an antique Army tank.

CEO Eileen Heisman said, “We’ve gotten a coin collection, a Chinese dining room set, a Picasso painting, and diamond jewelry, among other things.”

Such bequeathals are called “complex” or “noncash” assets, and can be donated just like traditional stocks and bonds. Donor-advised funds then convert them into cash for charities of choice. Donors can hire outside experts to determine the value of assets and legality of the conversions. There has also been an upsurge in unrestricted gifts toward donor-advised funds, which allows them discretion on choosing a cause.  

“Complex assets have become a growing funding source for donor-recommended, donor-advised fund grant-making,” Heisman told Financial Advisor. “National Philanthropic Trust donors have supported more than 100,000 charities in the past five years, in part due to complex asset contributions.”  

Read more about unique ways that noncash assets support charities in Financial Advisor Magazine.