The Fidelity Charitable Gift Fund,Fidelity Investments’ donor-advised fund program, reported that its donors recommended more than 212,000 grants totaling over $741 million to non profits nationwide during the first nine months of 2010.  This was up 22 per cent and 13 per cent, respectively, from the same period last year. It was the strongest first nine months for outgoing grants in the Gift Fund’s 19-year history. 

The Gift Fund also said that incoming charitable contributions reached nearly $610 million during the first nine months of the year, representing a 54 per cent increase from the same period last year.

Through September of this year contributions to the Gift Fund in the form of appreciated securities represented 51 per cent of total contributions, compared to   39 per cent during the same period last year. 

As reported by Family Wealth Report earlier this week, donor advised funds are an increasing trend among the wealthy. Clients do not have to file a tax return and there are no costs involved in setting up like with a foundation.