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National Philanthropic Trust
National Philanthropic Trust was founded in 1996 by Eileen Heisman, who led the organization as CEO for 26 years before transitioning to a trustee role in...
National Philanthropic Trust
National Philanthropic Trust was founded in 1996 by Eileen Heisman, who led the organization as CEO for 26 years before transitioning to a trustee role in mid-2024. The trust operates as a public charity, not a private foundation, which means it can accept a far wider range of illiquid assets — privately held business interests, real estate, cryptocurrency — and process them into donor-advised funds for individuals and institutions. This structural choice made NPT the go-to intermediary for complex charitable giving, particularly from the technology and private-equity wealth corridors. NPT's primary activity is sponsoring donor-advised funds, a vehicle that allows donors to make an irrevocable charitable contribution, receive an immediate tax deduction, and recommend grants to qualified nonprofits over time. The trust has historically channeled grant dollars toward education, human services, health, and arts organizations, with a geographic footprint that spans all fifty US states and extends internationally through NPT UK and NPT Transatlantic. In 2021, NPT processed an estimated $4.9 billion in contributions, according to its own annual report, outpacing many community foundations that have operated for decades. The trust does not invest in venture-backed companies or direct deals; instead, it liquidates complex contributions and redeploys the proceeds through a menu of investment pools managed by external asset managers. Holly Welch Stubbing succeeded Heisman as President and CEO effective July 1, 2024, taking over an organization that has granted more than $21 billion since inception. The board includes Jeffrey Armbrister, the CFO of Hamilton Lane, and Connie Collingsworth, the former Chief Legal Officer of the Bill & Melinda Gates Foundation — connections that reinforce NPT's position at the intersection of institutional finance and large-scale philanthropy. NPT also collaborates with 1% for the Planet on the Planet Impact Fund, which directs contributions toward environmental nonprofits. The trust maintains the infrastructure to accept unusual assets: life insurance policies, Midwest commercial real estate, modernist oil paintings, antique furniture, jewelry, rare coins, and cryptocurrency portfolios. NPT's structural differentiator is that it is a donor-advised fund sponsor with national scale and no regional community affiliation — a pure-play intermediary that competes directly with the charitable arms of Fidelity, Schwab, and Vanguard. Unlike those commercial gift funds, NPT is a nonprofit with an independent board, which allows it to accept assets that commercial sponsors often decline, particularly pre-IPO stock and complex partnership interests. This independence, combined with the ability to process illiquid contributions at volume, has made NPT the default charitable exit for founders and private-equity partners who want a tax-efficient way to fund their philanthropy without selling shares beforehand.
General information
Firm type
Endowment / Foundation
Year founded
1996
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Jenkintown
Corporate office
Jenkintown, PA, United States
Additional offices
London, UK
Principals
Holly Welch Stubbing
President and CEO
Eileen Heisman
Trustee and Former CEO
Sector focus
Frequently asked questions
How does National Philanthropic Trust differ from a community foundation or a commercial gift fund?
NPT is a national, independent public charity, not tied to any single geographic community or financial-services parent. Unlike community foundations, it operates across all 50 states with no regional restrictions on grantmaking. Unlike the charitable arms of Fidelity, Schwab, or Vanguard — which are structured as commercial donor-advised fund programs — NPT is a nonprofit governed by an independent board, which gives it greater flexibility to accept illiquid contributions such as pre-IPO stock, partnership interests, and real estate that commercial programs often decline.
What types of assets can National Philanthropic Trust accept?
NPT can accept a range of illiquid and complex assets beyond cash and publicly traded securities. In practice, contributions have included privately held business interests, real estate (including a Midwest commercial building), cryptocurrency, life insurance policies, artwork, antique furniture, jewelry, and rare coins. This broad acceptance capability is a central reason ultra-high-net-worth families and private-equity principals use NPT as their charitable intermediary.
Who runs investment decisions at National Philanthropic Trust?
NPT does not make direct investment decisions itself. Contributions that are not immediately granted are invested through a menu of externally managed investment pools, selected and overseen by NPT's staff and board. The trust's board includes finance practitioners like Jeffrey Armbrister, CFO of Hamilton Lane, and Connie Collingsworth, former Chief Legal Officer of the Bill & Melinda Gates Foundation, who provide institutional-investment oversight.
Is National Philanthropic Trust structured solely as a US entity?
No. While NPT's primary headquarters is in Jenkintown, Pennsylvania, it operates international affiliates — NPT UK and NPT Transatlantic — to facilitate cross-border giving. These structures allow donors with assets or philanthropic interests in the UK and Europe to contribute and grant within those jurisdictions using the same donor-advised fund model.
How does NPT handle contributions of pre-IPO stock or private equity interests?
NPT acts as the recipient and liquidator of complex securities. A donor contributes pre-IPO shares or private partnership interests directly to NPT, which can hold them until a liquidity event or sell them through secondary channels when permitted. The donor receives an immediate tax deduction based on the fair market value of the contribution, and the proceeds flow into the donor-advised fund, avoiding the capital gains tax that would apply if the donor sold the shares personally first.
Does National Philanthropic Trust maintain its own philanthropic programs or endowments?
NPT is primarily a sponsor of donor-advised funds, not an operating foundation. It does not maintain a large permanent endowment of its own; contributions are held pending donor grant recommendations. This flow-through posture distinguishes it from endowed private foundations like the Gates Foundation, where a single perpetual endowment funds a defined programmatic mission.
What is NPT's relationship with 1% for the Planet?
NPT collaborates with 1% for the Planet on the Planet Impact Fund, a donor-advised fund program designed to channel contributions specifically toward environmental nonprofits. NPT provides the administrative and custodial infrastructure, while 1% for the Planet contributes the network of verified environmental giving opportunities.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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