This article goes into detail discussing large banks that serve as trustees for private foundations. It examines the 2014 financial information of three of the largest banks in the United States. Many of these large bank trustees have been making higher profits off of fees than they did before the 2008 financial crises. Many members of the general public are often unaware of the lucrative revenue source that a bank trustee role can offer. The article provides a number of tables and charts that include detailed information on the financial status of many of these large banks. It discusses why some donors might want to choose a bank trustee instead of an individual family member to serve as trustee of a charitable entity. Future trends in this area are also described in this article.
See Rick Cohen, The Real Cost of Bank Trustees, Nonprofit Quarterly, August 9, 2015.
