Two Christian charities that provide personal charitable trust accounts for donors who make substantial donations have announced plans to merge.

Maxco, an organisation whose donors have committed more than £15 million of capital funds for the purposes of supporting Christian work worldwide, is merging with Stewardship, best known for its popular Sovereign Account range of charitable giving accounts.

The two charities have a shared ethos and provide a similar service for those donors who want to give more than £10,000 away or ensure that income from capital wealth is maximised at low administrative cost to provide funds for Christian mission without incurring the expense of setting up their own personal charitable trust.

Maxco has particular expertise in the ethical investment of capital funds donated to release regular income for giving away. The combined organisation will have around £20 million of donated funds that are managed on behalf of generous individuals with a Sovereign Gold Account.

Stewardship will be the operating name of the merged charities and three of Maxco's trustees will join the Stewardship board.

The Stewardship Sovereign Account has over 25,000 members giving more than £43 million per annum. Donors' gifts will be held in the Sovereign Gold account, a bank-style account for giving with an option to invest their donated funds for long-term growth prior to distribution to beneficiaries.

Maxco donors invest in a pooled fund that releases a regular income into individuals' trust accounts for giving away to charitable purposes.