Endowments and foundations are organized and operated exclusively for charitable purposes. Similar to other trust arrangements, endowments and foundations are created when an individual transfers ownership of property to a trust with another individual or company serving as trustee.

The trustee of an endowment or foundation is responsible for managing the property for the benefit of designated charities that are named as the beneficiaries of the trust, according to the written terms and conditions of the document.

Northwestern Mutual Wealth Management Company® possesses the specialized management skills required to handle the unique investment needs of private or public charitable foundations and endowments, including:

• Trusteeship or investment management.
• Sophisticated performance reporting.
• Special tax reporting.
• Trust accounting.