Bank of America Merrill Lynch announced enhancements Wednesday to its donor-advised fund, the Bank of America Charitable Gift Fund.
The improvements include the ability for donors to create, manage and customize a donor-advised fund through an online platform.
The platform includes access to a range of grant-making capabilities and the ability to authorize an unlimited number of delegates to help fulfill and carry on a philanthropic legacy. It also tracks balances and provides grant history and quarterly statements.
Customers can open a gift fund for an initial contribution of $5,000 through a Merrill Lynch or U.S. Trust financial adviser.
Currently, a team of 150 B of A Merrill Lynch philanthropic specialists works with donors and their advisers.