Fidelity Gift Fund posts record year

Donors to the Fidelity Charitable Gift Fund made over 353,000 grants totaling over $1.2 billion to nonprofits in 2010, up 19 percent and 14 percent, respectively, from 2009.

Those results marked the strongest year ever for the Gift Fund and the fourth straight year donors to the Gift Fund advised grants of over $1 billion to causes they support.

Since it was founded in 1991 as the first national donor-advised fund, the Gift Fund has worked to help donors support over 136,000 nonprofits with over $11 billion in grants.

Incoming charitable contributions to the Gift Fund exceeded $1.6 billion in 2010, up 42 percent from 2009, marking the sixth straight year it has accepted over $1 billion in contributions from donors.

Contributions to the Gift Fund in the form of appreciated securities represented 50 percent of total incoming contributions in 2010, up from 44 percent in 2009, while contributions in the form of non-publicly-traded assets, such as private-held C- and S-Corp stock and real estate, nearly tripled.

The level of activity in 2010 “illustrates the growing role of donor-advised fund,” Sarah Libbey, president of the Gift Fund, says in a statement, and represents “a clear signal that Americans remain deeply committed to supporting causes they care about.”

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