The economy’s improvement is finally making itself felt in philanthropy, as one of the nation’s biggest charities on Wednesday reported an unprecedented increase in donations made in recent months.
The Fidelity Charitable Gift Fund, the third largest organization on The Chronicle’s Philanthropy 400 survey of the nation’s most successful fund-raising organizations, reported that contributions rose to $270-million in the first quarter of this year—up 109 percent over the same period in 2009.
It was the best first quarter for fund raising at Fidelity since the charitable fund was founded in 1991. The gift fund enables donors to set up charitable giving accounts and help make grants from them.
Fidelity said that the number of new accounts established in the first quarter of this year grew by 145 percent compared with the same period last year.
Forty-six percent of contributions to Fidelity from January though March were made in stock, a sign that the stock market’s increases are now beginning to influence giving decisions . That’s up from just 27 percent in the first quarter of 2009.
3 Responses to Big Charity Chalks Up Record Fund-Raising Returns
bill__huddleston - May 7, 2010 at 10:31 am
Okay, glad to see that people are making charitable donations to the Fidelity fund. How much was actually given to charities in the same time frame? A bigger bank account has nothing to do with actual impact in the non-profit world, even though many of the measures obsess about the “size of the endowment.” I’m more interested in what was actually given to charities, it’s a much better measure.Regards,Bill HuddlestonThe CFC Coachwww.cfcfundraising.com
jerrynielsen - May 11, 2010 at 1:22 pm
“Big Charity Chalks Up Record Fund-Raising Returns”Would someone please tell me who the Fidelity Charitable Gift Fund serves and what is their mission?
70029994 - May 11, 2010 at 4:25 pm
A couple of quick questions. As a Gift Planner here in Canada, we look over the 49th as a possible predictor of what may occur here.I am presenting on Friday at the 17th Annual Canadian Association of Gift Planners ( CAGP*ACPDP — the equivalent to the NCGP correction PPP )conference in Edmonton AB on DAFs and would be interested in determining when the annual Chronicle of Philanthropy DAF survey will be published. Certainly, one of the success measures of DAFs has to be the total of grants and to whom. In my research — I was told that DAF payouts in the US were in the neighbourhood of 35% of capital — is that your experience ? Love to chat furtherChristopher JK Richardson, FCACharitable Gift Planning Consultant & Philanthropy Advisor, Vancouverchrisgiv@direct.ca