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Fidelity posts increase in contributions

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PJ staff report

Contributions to the Fidelity Charitable Gift Fund grew $1.3 billion, or 39 percent, in the fiscal year ended June 30, compared to the previous year, while donors recommended grants totaling $1.1 billion, up 11 percent.

The Gift Fund, which ended the fiscal year with nearly $4.4 billion, up 15 percent, says donors made over 152,000 grants totaling $531 million, up 27 percent and 16 percent, respectively, and representing strongest the first six months of the calendar year in its history.

Contributions in the six-month period grew 67 percent, while new accounts grew 19 percent.

With the stock market returning 14 percent for the fiscal year, contributions in the form of appreciated securities in the first half of 2010 represented 51 percent of total contributions to the Gift Fund, compared to 32 percent in the same period a year earlier.

“Our donors continue to give at record levels, reflecting their ongoing commitment to supporting the causes important to them as well as to responding to unforeseen charitable needs, such as the crisis in Haiti,” Sarah C. Libbey, president of the Gift Fund, says in a statement.

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