January 11, 2010
Increase In Donations For Fidelity Fund
By Matthew L. Brown
The Boston-based Fidelity Charitable Gift Fund said donors contributed more than $1.1 billion in 2009 compared to $1.05 billion the prior year.
The fund supported more than 60,000 nonprofit organizations through more than 298,000 grants in 2009, a 1.8 percent increase over the previous year.
Fidelity said giving increased as the year went on and peaked in December. The company said signs of an economic recovery helped to increase giving as donors sought to meet philanthropic goals and take advantage of tax deductions.
Historically, the gift fund receives 57 percent of its donations in the fourth quarter. In 2009, it receives 64 percent of the year's donations during the fourth quarter with 50 percent of those coming in December.
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