Charitable remainder trusts (CRTs) are separate legal entities that offer both an investment plan to the beneficiary and a charitable gift to the University. Trusts hold and invest assets that will ultimately pass to the University of Tennessee upon termination and have become an increasingly popular way to make a gift to the University while maintaining a stream of income for the beneficiary or beneficiaries.
The first trust at the University of Tennessee was established in 1965 and benefitted the University of Tennessee Library Endowment. Ever since, the University of Tennessee has established and maintained a giving program that now totals over 197 trusts with an approximate market value of $46.8 million. As trustee, The University utilizes the services of BNY Mellon Wealth Management for trust administration, investment management, and tax reporting.