Fidelity® Charitable Gift Fund Launches Convenient Electronic Funds Transfer Capability
In a First for a National Donor-Advised Fund Program, Donors Now Can Contribute Online Directly from Their Bank Accounts to the Gift Fund
BOSTON, Dec. 22, 2009 — The Fidelity® Charitable Gift Fund ("Gift Fund") today announced that it has launched an electronic funds transfer (EFT) capability enabling donors to contribute to the Gift Fund online directly from their bank accounts. The Gift Fund is the first among national donor-advised fund programs to offer such an option, eliminating the need for donors to write checks and mail them in. Donors can conduct all of their transactions online, from establishing Giving Accounts to funding them to recommending grants to the charities of their choice.
Just in time for end-of-year giving, donors now can submit a contribution from their bank online for free up until 11:59 p.m. Eastern Time on December 31, 2009, and still be eligible for a tax deduction for the year. The minimum contribution amount required for an electronic funds transfer is $10. The maximum contribution amount allowed is $100,000.
"We are pleased to be the first national donor-advised fund program to offer this capability as many donors make their end-of-year contribution decisions," said Sarah C. Libbey, president of the Gift Fund. "We are always striving to make giving as easy and convenient as possible — especially at a time when so many charities are in immediate need."
The Gift Fund typically receives approximately 45% of its annual contributions
during the last month of every year. The electronic funds transfer, which can be initiated
by
logging in to the Giving Account®, takes just a few minutes to complete. The Gift Fund also accepts
checks as long as they are postmarked by December 31st.
About Fidelity® Charitable Gift Fund
The Fidelity® Charitable Gift Fund was established by Fidelity Investments® in 1991. The mission of the Gift Fund is to further the American tradition of philanthropy by providing programs that make charitable giving simple and effective. As of Sept. 30, 2009, more than 56,000 donors had recommended grants totaling more than $9.5 billion to over 130,000 nonprofit organizations nationwide since the Gift Fund’s inception.
The Fidelity® Charitable Gift Fund is an independent public charity with a donor-advised fund program. Various Fidelity companies provide investment management and administrative services to the Gift Fund. The Charitable Gift Fund logo is a service mark, and Giving Account is a registered service mark, of the Trustees of the Fidelity Investments® Charitable Gift Fund. Fidelity and Fidelity Investments are registered service marks of FMR LLC, used by the Gift Fund under license.