Knowledgeable Workforce with 200-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
With the economies of scale available by pooling resources, trust fees can be maintained at a very competitive level. Annual fees for normal account services are calculated based on a percentage of asset market value and assessed monthly. No part of the fee is associated with investment management. In certain circumstances, an extraordinary fee may apply, in which case you will be notified.
Trust and Donor-Advised Accounts
- 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 Fees (annual)
$75 for Online Donor Advised Funds
$300 for all other accounts
Charitable Gift Annuities
1.00% on all balances
Termination Fee for Trust and Gift Annuity Accounts
0.50% of final balance
Tax Preparation Fee $200
- Trust (CRAT, CRUT, etc.) $50,000
- Online Donor-Advised Fund $5,000
- Donor-Advised Fund $150,000
- Charitable Gift Annuity $25,000
- Pooled Income Fund $5,000
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 an integrated auxiliary of 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 Deseret Trust Company 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).