Why Deseret Trust Company?
Knowledgeable Workforce with 240-Plus Years' Combined Experience
Deseret Trust Company has a knowledgeable and experienced staff of professionals. While other corporate fiduciaries may also have a staff with great experience, it is rare to find a staff with the depth of experience specifically dedicated to charitable trusts.
Low Costs and Fee Schedule
Due to the nonprofit nature of Deseret Trust Company, our fees are substantially lower than other corporate fiduciaries. We charge fees to cover our costs and meet regulatory requirements for reserves. No part of our fee is associated with investment management. Deseret Trust Company's current fee schedule is:
- 0.9% of first $500,000*
- 0.56% of next $500,000
- 0.34% of next $1,000,000
- 0.22% over $2,000,000
*Minimum trust fee of $300
Minimum online Donor Advised Fund for $75
The fee for charitable gift annuities is 1% of the gift amount with no minimum.
- Trust (CRAT, CRUT, etc.) $50,000 ($400 fee)
- Online Donor Advised Fund $5,000 ($75 fee)
- Donor Advised Fund $150,000 ($1,200 fee)
- Charitable Gift Annuity $25,000 ($250 fee)
- Pooled Income Fund $5,000 ($40 fee)
The Common Trust Funds that Deseret Trust Company use as investment vehicles have a proven track record of consistent performance that exceed the benchmark index used as a comparison. This record goes back 20-plus years for the Equity Fund.
Confidence in Church-Affiliated Entity
Donors can have confidence in Deseret Trust Company because it is governed by the same principles common to Church operations. Deseret Trust Company is owned by the Church and the First Presidency of the Church appoints the chairman and board of trustees.
Professional Expertise Provided for Donors
Often individuals have a desire to help build the kingdom through planned gifts, but neither they nor their advisors have a great deal of knowledge and experience in the investment and tax-reporting requirements of these trusts. Deseret Trust Company brings to the donor all the resources needed to properly administer and report these trusts.
Diversification of Portfolios
The Investment Review Committee (IRC) of the Church provides a mechanism for the oversight of all fiduciary assets held at Deseret Trust Company. The combination of the IRC recommendation of asset allocation and the nature of the Deseret Trust Company Common Trust Funds ensures proper portfolios diversification to reduce investment risk.
Regulated Corporate Fiduciary
As with any corporate fiduciary, Deseret Trust Company is subject to government regulation. Deseret Trust Company is regulated by the Utah State Department of Financial Institutions (for trusts) and the Utah Insurance Division (for gift annuities).
Deseret Trust Company has regular audits by the Church Auditing Department, the Utah State Department of Financial Institutions, as well as by independent external auditors. At the present time Deloitte and Touche, LLP conducts our external audits.
Staff members at Deseret Trust Company have a commitment to professional behavior and continuing education. They average more than 20 years' experience in trust administration with many professional designations, including certified public accountant (CPA), master of business administration (MBA), certified trust and financial advisor (CTFA), certified trust auditor (CTA), and chartered financial analyst (CFA).
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For assistance in using these tools in your financial or estate planning, please call 877-650-5377.