Truist Bank Trusteed Foundation Funds (2024)


In their concern for community wellbeing, the benefactors who established these foundations directed that available proceeds should be judiciously distributed to non-profit, tax-exempt organizations with demonstrable records of superior service in the fields of Leadership Development, Economic Mobility, Thriving Communities and Education.

The Distribution Committee


Truist Bank provides trustee services to private and family foundations, including the six foundations detailed on this website. As stewards to the Truist Trusteed Foundations, we are happy to provide information about their grant guidelines and the application process in the Atlanta area.

Each proposal submitted is automatically considered for funding by the English, Marshall, Rich, Woolford, Elkin, and Greene-Sawtell foundations. Only one application form is needed to apply to all six foundations.


Harry L. English was the son of Capt. James Warren English, Mayor of Atlanta from 1882-1884. Capt. English gained prominence in Atlanta through the real estate business. Harry and his wife Florence built a house on West Paces Ferry Road across from the Governor's Mansion. The house still stands today. Harry died in 1937, and in 1964, The Florence C. and Harry L. English Memorial Fund was established to honor Harry and Florence.

Mrs. Harriett McDaniel Marshall created this Trust in 1962 to honor her father, Sanders McDaniel, a Monroe, GA native and an Atlanta attorney. Mr. McDaniel was the son of former Governor Henry D. McDaniel (1883-1888), under whose administration the State Capitol Building in Atlanta was completed. Harriett married Rembert Marshall, one of her father's law partners.

Walter H. Rich was the second president of Rich's department store (1926-1947), succeeding his uncle, Morris Rich, who founded the company as M. Rich & Bros. in 1867. Morris Rich changed the name to Rich's when a new store was built on the corner of Broad and Alabama Streets in downtown Atlanta in 1924. Both Morris and Walter as well as Daniel Rich, Morris' brother and Walter's father, are buried in Atlanta's historic Oakland Cemetery. The Walter H. and Marjory M. Rich Memorial Fund was established in 1959.

This Memorial Fund was established to make gifts to institutions which are members of a community fund, nonprofit hospitals, or are an institution which places emphasis upon the education and training of individuals and scholarship funds.

This Trust was created under the will of Thomas Guy Woolford, a member of the family who founded Retail Credit Company (1899) which ultimately became Equifax Inc. This Trust was established to make gifts to institutions that are organized and operated exclusively for charitable, religious, educational or scientific purposes. Because of the family's ties to the Atlanta area, the Distribution Committee will give priority to charitable, religious, educational or scientific organizations in the metropolitan Atlanta area.

The Nell Warren Elkin and William Simpson Elkin Foundation was created as a memorial by Miss Margaret R. Warren, Miss Charlotte L. Warren and Mrs. Josephine Warren Asbury, sisters of Nell Warren Elkin. The following charitable institutions were suggested by the Foundation's founders as worthy and valuable organizations. However, the Foundation's trustee is not required to make grants to these organizations and will entertain proposals from other organizations.

  • Robert Winship Cancer Clinic, Atlanta, GA
  • A.G. Rhodes, Inc., Atlanta, GA
  • Georgia Heart Association, Inc., Atlanta, GA
  • Bible Study Hour, Philadelphia, PA
  • American Bible Society, New York, NY
  • Emory University, Atlanta, GA

The Greene-Sawtell Foundation was established by Mr. Forest Greene and Mrs. Alice Greene Sawtell, who served as the first Advisory Committee. Under the terms of the document which established the Foundation, the advisory committee was created to select the charitable organizations which the Foundation would support. Truist Bank, as Trustee, now determines which charitable, religious and educational organizations will receive support from the Foundation. The Trustee considers organizations which the Foundation has supported in the past, those in which Mrs. Sawtell had a personal interest, and those which are of a similar nature to the organizations in which Mrs. Sawtell had an interest.

  • Charities Suggested in the Document Establishing the Foundation:
  • Various Protestant Charities in Georgia
  • Young Harris College
  • LaGrange College
  • Rabun Gap-Nacoochee School
  • Reinhardt College
  • Methodist Children's Home, Decatur, Georgia
  • Hillside Cottages, Atlanta, Georgia
  • Thornwell Orphanage, Clinton, South Carolina
  • Henrietta Egleston Hospital for Children, Decatur, Georgia

  • Charities Supported by Mrs. Sawtell during her lifetime:
  • First Presbyterian Church, Atlanta, Georgia
  • St. Jude's Recovery Center, Inc.
  • Atlanta Union Mission
  • Center for the Visually Impaired
  • Sheltering Arms Day Care Center
  • The Salvation Army
Truist Bank Trusteed Foundation Funds (2024)

FAQs

What are Truist financial foundations? ›

Since 2010, Truist Financial Foundations, a web- based financial education program, has empowered more than 1.5 million students with the knowledge and skills they need to successfully navigate the modern financial world.

What are the goals of the Truist Foundation? ›

Truist's purpose is to inspire and build better lives and communities. By partnering with nonprofit organizations across our markets, we're helping them innovate and make a meaningful difference in the lives of those they serve.

Is Truist Bank financially strong? ›

The Company's very strong banking franchise is underpinned by a deeply entrenched deposit base, covering the South and Mid-Atlantic regions. Overall, Truist is the seventh largest U.S. bank, with $555 billion in total assets at the end of 2Q23 with leading deposit market shares across its footprint.

Is Truist a donor advised fund? ›

About The Truist Charitable Fund

The Truist Charitable Fund (TCF) is committed to Truist Financial Corporation's purpose to inspire and build better lives. TCF was established as a donor-advised fund and is administered by The Winston-Salem Foundation.

How do financial foundations work? ›

They receive most of their financial support from and are normally controlled by their founders. They must make charitable distributions throughout their taxable year. They are tax-exempt organizations, but must pay a nominal excise tax of 1.39% on their net investment income.

What is a foundation bank? ›

Foundation bank accounts work like regular current accounts for the most part. They're just designed specifically for people with poor credit history.

Why is Truist Bank so good? ›

The pros of banking with Truist Bank include affordable mortgage options, checking accounts with no overdraft fees, and a vast branch and ATM network.

Is Truist an ethical bank? ›

At Truist, we live our core values of trustworthy, caring, one team, success, and happiness. These values ensure we conduct business in a way that upholds high ethical standards to build upon our foundation of integrity and principled business conduct.

How much debt does Truist have? ›

Total debt on the balance sheet as of March 2024 : $63.81 B

According to Truist Financial's latest financial reports the company's total debt is $63.81 B. A company's total debt is the sum of all current and non-current debts.

Is Truist Bank safe from collapse? ›

Is Truist Bank safe from collapse? Truist Bank was rated as "stable" by S&P, Moody's, Fitch, and DBRS Morningstar, meaning it's likely safe from collapse.

Is my money safe in Truist Bank? ›

Truist Bank is also a member of the FDIC, which insures up to $250,000 per account type, per depositor.

Should I invest in Truist? ›

Truist Financial's analyst rating consensus is a Moderate Buy. This is based on the ratings of 16 Wall Streets Analysts.

Is a donor-advised fund better than a foundation? ›

Donor-advised funds allow for a tax dedication at a higher percentage of AGI, 60% of cash and 30% of assets, in comparison to 30% cash and 20% in assets for private foundations.

What are the disadvantages of donor-advised funds? ›

However, there are drawbacks: once a donation is made, it cannot be retracted and administrative fees can reduce the amount available for grants. Additionally, donors may have limited control over the fund's investments.

What type of financial institution is Truist? ›

We're a top 10 U.S. commercial bank, headquartered in Charlotte, North Carolina. We're excited to be your bank and help you accomplish whatever you're after.

What does Truist Financial do? ›

Truist Financial Corp: Overview

Its retail banking portfolio consists of loans and mortgages, insurance, investment brokerage, online banking, retail deposits, wealth management, asset management, payments, and SME banking.

What is the financial status of Truist? ›

Headquartered in Charlotte, North Carolina, Truist is a top-10 commercial bank with total assets of $520 billion as of June 30, 2024.

What type of investment bank is Truist? ›

Truist Securities is a middle market investment bank.

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