Cardinal Capital Management teams up with the Triangle Community Foundation. Raleigh, N.C.-based private-client investment advisory Cardinal Capital Management has teamed with the Triangle Community Foundation, a local organization that links philanthropic resources with community needs, so that Cardinal's clients can establish donor-advised funds and continue to have Cardinal manage them until they're allocated.

Stewardship

"Each year many of our clients make charitable gifts with appreciated securities, and this partnership will help ensure everyone receives the maximum benefit for that generosity," says Cardinal's president Glenn Andrews. "The donor avoids capital gains taxes, the portfolio manager can make portfolio adjustments without tax consequences and the receiving charity frequently receives a larger gift than they might otherwise."

Cardinal makes a valuable addition to Triangle's roster of partners, according to the community foundation's president Andrea Bazán-Manson. "It's heartening to see the personal commitment they've made to increasing philanthropy in the region," she adds.

With assets of around $110 million, Triangle manages around 570 donor-advised funds for good works in North Carolina's Wake, Durham, Orange and Chatham counties.

Cardinal Capital Management manages about $113 million, mainly for well-to-do business owners and professionals. -FWR

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