Donor-Advised Funds Aid Haiti
February 2, 2010
Many donor-advised funds from the nation’s largest mutual fund companies are directing tens of millions of dollars to aid victims of the massive earthquake in Haiti. The Fidelity Charitable Gift Fund alone has sent $10.5 million for Haiti relief.
“Donor-advised funds are the fastest-growing giving vehicle in America,” Benjamin Pierce, executive vice president of the Vanguard Charitable Endowment Program, told Investor’s Business Daily. “About 140,000 U.S. families have donor-advised funds, compared to about 75,000 private foundations. DAFs are easy to understand, easy to establish and easy to sustain.”
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