Fidelity Charitable Gift Fund contributions fell

While incoming contributions to the Fidelity Charitable Gift Fund dropped 43% last year, its grant making to non-profit organizations increased.
JAN 26, 2009
While incoming contributions to the Fidelity Charitable Gift Fund dropped 43% last year, its grant making to non-profit organizations increased. Fidelity Investments said today that contributions to the nation’s largest donor-advised fund dropped to $1.05 billion last year, from $1.85 billion in 2007. But the gift fund’s donors supported some 55,000 charities with more than 293,000 grants, reflecting a 2% increase in grants from 2007. “Market volatility impacted individuals and institutions while at the same time, non-profits faced increasing demand for their services as they attempted to support their local communities,” Sarah Libbey, president of the fund, said in a statement. “Our donors did not waver in their commitment to help those in need.” The Boston-based gift fund had $3.8 billion in assets as of Dec. 31.

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