Contributions to the Vanguard Charitable Endowment Program fell to $490 million in 2010, down 9 percent from the previous year, while distributions to other charities from Vanguard Charitable donor-advised accounts grew to $541 million, up 50 percent.
New accounts at Vanguard Charitable grew by over 77 percent, while the number of existing donors making additional gifts to their donor-advised accounts grew 30 percent.
Donations of appreciated stocks grew 75 percent and donations of appreciated mutual funds grew 46 percent.
Grants from Vanguard Charitable donor-advised accounts totaled nearly 34,000, with the amount of the average grant growing 35 percent to nearly $16,000.
“Giving is on the rise as people regain confidence, recognize long-term investment gains, and realize the utility of donor-advised accounts as long-term giving instruments,” Benjamin Pierce, president of Vanguard Charitable, says in a statement.
Formed in 1997, Vanguard Charitable has over 7,200 accounts, $2.2 billion in assets and has made $2.7 billion in grants to other public charities.