Fidelity Charitable Gift Fund Reports Record Year

The Gift Fund’s donors made more than 353,000 grants totaling over $1.2 billion to nonprofits nationwide during 2010, up 19% and 14%, respectively, compared to 2009, according to a Fidelity press release. Both of these totals represent the strongest year for outgoing donations to charities in the Gift Fund’s history.   

This is the fourth consecutive year that the Gift Fund’s donors advised grants of more than $1 billion to the causes they support.   

Charitable contributions surpassed $1.6 billion during 2010, representing a 42% increase compared to 2009. This is the sixth consecutive year that the Gift Fund has accepted more than $1 billion in contributions from donors.   

Contributions to the Gift Fund in the form of appreciated securities — one of the most tax-advantaged ways to give, Fidelity said — comprised 50% of total incoming contributions in 2010, increasing from 44% during 2009. 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 in 2010.   

2011 is the Fidelity Charitable Gift Fund’s 20th anniversary. Since its founding in 1991 to provide programs that make charitable giving simple and effective, the Gift Fund has helped donors support over 136,000 nonprofit organizations with more than $11 billion in grants to end charities, the press release said.