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.

Latest News

WallStreetBets takes on the SEC — and makes a surprisingly sharp case
WallStreetBets takes on the SEC — and makes a surprisingly sharp case

The Reddit trading community's formal comment letter against the proposal is drawing widespread attention across finance and tech circles.

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline