Trust Administration

Charitable trust administration is much more than four checks and a tax return!

Many think that charitable trust administration is just making sure that distributions are made and tax returns are completed in a timely manner. WRONG! Unfortunately that's what many non-professional administrators do; and as a result we spend many hours working with the Internal Revenue Service (IRS) to undo the wrong that others before us did. Self dealing, step transactions, and disqualifications are only a few of the things that can be unwittingly done by parties to the trust. As experts in our field, our continued review of the trust helps identify circumstances that can challenge the trust's tax exempt status and work with everyone to correct any mis-steps. It's all about being at the top of your game and staying ahead of the things that can wreak havoc.

And, let's not forget four tier accounting. Tracking transactions into all of the appropriate tiers is a must for charitable trusts. Our proprietary software is the best in the business. We know how each of the trust's transactions needs to be allocated in order to calculate proper distributions, pay expenses, and maintain regulatory compliance.

Charitable trust tax returns are as important as individual tax returns. Failure to file timely and/or accurately creates all of the headaches associated with personal tax returns and can result in even more significant penalties. When we have all the needed information by mid-February, tax returns are out the door by mid-March - plenty of time for review, questions, completion of personal tax returns, and timely filing with the IRS.

The trust's annual report provides a concise, visual depiction of the trust's performance. We measure not only this year's activity but also compare it to the past two years' activity. See at a glance the balance of the make-up amount, distributions, charitable gifts, investment performance, etc. Bound with the tax returns, the complete package assures access to all the trust activity in one place.

Our staff of skilled professionals has the expertise needed to oversee the administration of these specialized instruments. Combined with our legal services and consulting services, we're always aware of the best way to administer the unique provisions of each trust document while maintaining the highest compliance standards in the industry.

Peace of mind can be bought when Renaissance is your charitable trust administrator!