Fidelity’s Charitable Gift Fund Shows Well in Recession

"When the Fidelity Charitable Gift Fund was established in 1991, its entrance onto the philanthropic scene was met with much consternation by community foundations. But recent statistics would suggest, at least on the surface, that its presence may drive giving in a good direction. In the past 12 months the assets in the Fidelity Charitable Gift Fund grew by $1.2 billion, a 20 percent increase over the previous 12 months and its grantmaking grew by $1.1 billion, an increase of 9 percent. This growth was, to put it mildly, unusual among philanthropic institutions. Nonprofit Quarterly's Rick Cohen recently discussed the Gift Fund’s recent track record with Fidelity Charitable Gift Fund CEO Sarah Libbey."

 To read the full article, visit The Nonprofit Quarterly's website.