Fidelity® Charitable Gift Fund Reports Strongest First Quarter Volumes in 20-Year History

Increases in Grant and Contribution Volumes and in Donations of Complex and Appreciated Assets Indicates Earlier, More Strategic Charitable Planning

BOSTON--()--The Fidelity® Charitable Gift Fund (“Gift Fund”), the nation’s largest donor-advised fund program and one of the largest public charities in the country, today reported its strongest first quarter for grant and incoming contribution volumes in its 20-year history.

Incoming contributions to the Gift Fund reached a record high for a first quarter, increasing 25 percent over the first quarter of 2010 and resulting in $269 million in new charitable dollars. Grant volumes -- the number of outgoing grants – and grant dollars were also the highest the Gift Fund has experienced in a first quarter, which is typically a slower time for charitable giving. Gift Fund donors recommended $293 million in outgoing grants to nonprofits nationwide, up 8 percent from the first quarter of 2010.

“Donor momentum is very strong for this point in the year,” said Sarah Libbey, president of the Fidelity® Charitable Gift Fund. “Many of our donors responded to the tragedy in Japan with disaster-relief and related grants, yet the level of overall activity indicates that more people are prioritizing charitable giving, making it part of their overall financial planning, and not just a year-end activity.”

The earthquake and tsunami in Japan spurred donors to provide more than 3,515 grants totaling $4.2 million as of the 22nd business day following the disaster. For incoming contributions, the Gift Fund saw donations of appreciated securities rise to 60 percent of total contributions, up from 46 percent in 2010 and 27 percent in 2009, due in large part to the rebounding stock market. Contributions of complex assets, such as privately-held C- and S-Corp stock, limited partnership interests and certain publicly-traded stock nearly quadrupled relative to the first quarter of 2010.

“We are seeing a significant increase in donors leveraging a broader spectrum of their assets, such as restricted stock and privately held securities, for charitable purposes. This reflects continued strength in the mergers and acquisitions market, and also is a sign of more strategic charitable planning on the part of donors and their advisors,” said Libbey. “This is an exciting trend, as these types of assets have powerful tax advantages and donating them to a donor-advised fund like the Gift Fund makes the process easy and typically more financially advantageous for the receiving charities.”

Tax Season a Strategic Time for Charitable Planning

Whether it’s to respond to tragedies with disaster-relief support, or to facilitate their long-term giving goals, planning ahead can help donors maximize the dollars they have available to give. Pending tax law changes for 2013 make now an even more ideal time for individuals to work with their financial advisors to develop a long-range financial plan that integrates their charitable goals. “Many people are examining their giving as they file their tax returns. This is a perfect time to assess your portfolio and develop a strategic and tax-efficient plan for giving this calendar year and beyond,” said Libbey. “Planning ahead is a win-win for both donors and the causes they care about.”

About the Fidelity® Charitable Gift Fund

The Fidelity® Charitable Gift Fund is an independent public charity, established in 1991, with the mission to further the American tradition of philanthropy by providing programs that make charitable giving simple and effective. Since its inception, the Gift Fund has helped donors support more than 140,000 nonprofit organizations with over $11 billion in grants. For more information, visit www.charitablegift.org.

The Fidelity® Charitable Gift Fund (“Gift Fund”) is an independent public charity with a donor advised fund program. Various Fidelity companies provide investment management and administrative services to the Gift Fund. The Charitable Gift Fund logo is a service mark of the Trustees of the Fidelity Investments® Charitable Gift Fund. Fidelity and Fidelity Investments are registered service marks of FMR LLC, used by the Gift Fund under license.

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© 2011 Trustees of the Fidelity Investments® Charitable Gift Fund. All rights reserved.

Contacts

Corporate Communications
617-563-5800

Contacts

Corporate Communications
617-563-5800