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Fidelity fund nears two-millionth gift

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The Fidelity Charitable Gift Fund, a donor-advised fund program, distributed more than $744 million in gifts so far this year and expected to make its two-millionth grant in October.

And in an effort to spur additional giving during the current economic crisis, the fund has lowered its minimum-gift amount to $50 from $100.

The fund also has introduced a new program called Gift4Giving, which allows donors’ friends and family members to direct gifts from donors’ gift accounts.

Through the program, family and friends can direct grants ranging from $100 to $5,000 to the nonprofit of their choice using funds from the donor’s account.

Fidelity Gift Fund donors awarded a total of more than 185,000 grants to 45,000 nonprofit in the first nine months of 2008, an increase in grants of almost 10 percent over the same period in 2007.

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