Fidelity^® Charitable Gift Fund^SM Reports Record Giving Year

Record Grants Reflect Increased Donor Involvement, Increased Awareness of Donor Advised Fund Benefits

BOSTON, February 6, 2008 — The Fidelity^® Charitable Gift Fund^SM today announced the largest grant-making year in its history, as overall donor-recommended grants to charity surpassed $1.17 billion in 2007, an increase of 24 percent over 2006. This marks three consecutive years of record giving levels. Throughout the Gift Fund’s 15-year granting history, donors have recommended grants of more than $7.7 billion to more than 118,000 charities. The Gift Fund, the nation's largest donor advised fund (DAF) and the fourth largest public charity, also attracted record contributions of $1.85 billion in 2007, up more than 45 percent year-over-year.

"On all fronts, 2007 was an exceptional year for the Gift Fund," said Sarah Libbey, interim president of the Fidelity Charitable Gift Fund. "We implemented several program enhancements that have not only benefited our current donors, but also attracted record numbers of new donors across a wider spectrum of ages and income levels. The phenomenal increases in both grants and contributions that we saw in 2007 reflect the continued generosity of our donors as well as the growing awareness of the role that donor advised funds continue to play in making philanthropy easier, more effective and more accessible to individuals."

Reductions in the grant minimum as well as the initial contribution required to open a Giving Account^®1 implemented in late 2006 fueled the Gift Fund’s record setting growth in 2007. More than 6,700 new Giving Accounts were established, up 44 percent over the prior year. The number of grants to qualified public charities also rose significantly, increasing 34 percent year over year, largely due to the increased flexibility afforded to donors by the lowering of the minimum grant amount.

New Features Enhance Giving Experience

Among its accomplishments in 2007, the Fidelity Charitable Gift Fund also announced several new features to its program. By expanding its investment pool program with the addition of the 500 Index Pool and the International Index Pool, the Gift Fund provided donors with additional investment pool choices for reaching their charitable goals.

In February, the Gift Fund unveiled an extensive redesign to its Web site, CharitableGift.org, that provided both potential and existing donors with new tools and resources to help them execute their charitable giving plans. The Web site offers information on how to establish a legacy and streamlines donor activities related to Giving Account management, including investment pool allocation advice and grant recommendations.

These changes, aimed at making giving simpler and more efficient for the donor, resulted in record numbers of donors engaging the Gift Fund through its Web site. More than 72 percent of transactions in 2007 were conducted online, 4 percentage points up from the prior year.

The Gift Fund also introduced new ways for donors to support international causes. A new International Giving section on the Web site provides donors with extensive information to assist in determining the most effective ways to support international causes – either through direct contributions to these organizations, by supporting a U.S. charity which supports international organizations or through the Gift Fund with grant recommendations to U.S. charities whose mission is to grant internationally.

More Donors Giving Gifts of Individual Securities

Increased awareness of both the benefits of donating securities in-kind and the efficiency of donating them through a donor advised fund also fueled the Gift Fund’s record setting growth. As more donors sought to take advantage of the additional tax savings generated by these types of gifts, donations of individual securities rose significantly in 2007, accounting for more than 72 percent of all contributions to the Gift Fund, up 6 percentage points from 2006.

"Donor advised fund programs streamline the paperwork associated with donations of securities, making these types of donations simple and efficient for the donor," explains Libbey. "A charity with a DAF program can process a single gift of securities which can then be easily donated to multiple charities as recommended by the donor. The reduced administrative burden, along with the tax benefits, make this an attractive option for donors."

Inspiring Future Philanthropists

In December, the Gift Fund and Campus Compact, a coalition of college and university presidents committed to building civic engagement into campus and academic life, announced the launch of a new, joint program – Students4Giving^SM. From more than 35 applications from colleges and universities, five schools – Boston University; California State University, Fresno; Portland Community College in Portland, Oregon; the University of North Carolina at Chapel Hill; and Whitworth University in Spokane, Washington – were chosen to participate in the new program designed to advance philanthropic education efforts at campuses across the country.

Financed by Fidelity, the program provides each selected school with a Gift Fund Giving Account^® seeded with $15,000 to be overseen by the students participating in their respective school’s 2008 winter/spring nonprofit and philanthropy courses. The program will also encourage community-based learning and partnership with local nonprofit organizations. The Gift Fund and Campus Compact will provide the selected schools with access to charitable planning consultants, as well as guidance and education on charitable giving topics, civic volunteerism and giving through a donor advised fund throughout the semester.

"Students are becoming more and more involved in addressing the social issues facing their communities," comments Libbey. "Our hope is that the Students4Giving^SM program will inspire the next generation of philanthropic leaders by providing them with the knowledge, tools and experiences necessary to affect positive change."

Moving Forward

"Donor advised funds are playing an important role in helping donors to make a greater impact on the charities they support," adds Libbey. "We will continue to look for ways to strengthen our program and advance philanthropy by making it easier for more individuals to develop an effective gifting strategy that compliments their overall financial plan."

About Fidelity Charitable Gift Fund

The Fidelity^® Charitable Gift Fund^SM is one of the nation’s largest public charities and has the largest donor advised fund program in the country². The mission of the Gift Fund is to further the American tradition of philanthropy by providing programs that make charitable giving simple and effective. The Gift Fund was established by Fidelity Investments^® in 1991, as an independent public charity, and is governed by a Board of Trustees, the majority of whom are independent of Fidelity Investments. Since the Gift Fund’s inception, more than 50,000 donors with Giving Account privileges have recommended grants totaling more than $7.7 billion to more than 118,000 IRS-qualified public charities nationwide, as of December 31, 2007. Various Fidelity Investments companies provide non-discretionary investment management and administrative services to the Gift Fund.