National City has teamed with the Cleveland Foundation to offer a new charitable gift fund. The National City Charitable Gift Fund is set for an initial roll-out in the North Coast of Ohio, said, Ann Whalen, director of product for Armada Funds, the fund arm of National City.

Investors will be able to direct the investment of their donations to any of three mutual funds advised by National City Investment Management Company (Armada Conservative Allocation Fund, Armada Balanced Allocation Fund, and Armada Aggressive Allocation Fund).

The Cleveland Foundation provides administrative services and grant making guidance to donors. Investors are able to donate real estate and other illiquid assets to the fund. The minimum investment is $10,000. 

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