Contributions to Fidelity Charitable Gift Fund Surpassed $1.6 Billion in 2010

Contributions to Fidelity Charitable Gift Fund Surpassed $1.6 Billion in 2010

The Fidelity Charitable Gift Fund has announced that it received more than $1.6 billion in contributions in 2010, a 42 percent year-over-year increase.

In total, donors to the nation's largest donor-advised fund program awarded more than 353,000 grants totaling more than $1.2 billion to nonprofits nationwide last year — an increase of 19 percent and 14 percent, respectively, year-over-year. It was the fourth consecutive year that donors authorized more than $1 billion in grants and the sixth consecutive year that Fidelity received more than $1 billion in contributions.

Contributions to the fund were bolstered by a 44 percent increase in gifts of appreciated securities, which comprised 50 percent of all incoming contributions. In addition, contributions in the form of non-publicly traded assets such as privately-held C- and S-Corp stock and real estate nearly tripled.

"With demands on the nation's charities as great as they've ever been, our donors gave at record levels in 2010 — something we hope is a leading indicator for overall charitable giving in the United States," said fund president Sarah Libbey. "The level of activity we saw this past year illustrates the growing role of donor-advised funds such as the Gift Fund in charitable giving and also is a clear signal that Americans remain deeply committed to supporting causes they care about."

"Fidelity Charitable Gift Fund Reports Its Strongest Year Ever for Donations to Nonprofits." Fidelity Charitable Gift Fund Press Release 01/11/2011.