¹ National Philanthropic Trust, “2023 Donor-Advised Fund Report,” November 2023.

² Bloomberg, 3-year returns for the MSCI World ESG Leaders Index were 8.51% annually, while the MSCI World Index returned 7.83% annually (12/31/2020-12/31/2023). 5-year returns for the MSCI World ESG Leaders Index were 13.84% annually, while the MSCI World Index returned 13.41% annually (12/31/2018-12/31/2023). 7-year returns for the MSCI World ESG Leaders Index were 11.63% annually, while the MSCI World Index returned 11.33% annually (12/31/2016-12/31/2023). 10-year returns for the MSCI World ESG Leaders Index were 9.37% annually, while the MSCI World Index returned 9.22% annually (12/31/2016-12/31/2023).

³ BofA Global Research. December 2023 .

⁴ American Endowment Foundation, “5 Primary Tax Benefits to Donors” May 2024 (latest data available).

⁵ Hurwit & Associates, “Starting a Private Foundation” as of June 2021 (latest data available).

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