October 10, 2006 4:42 AM
Fidelity Reduces Initial Minimum On Its Doner-Advised Charitable Fund
Can you imagine people's generosity? The same WSJ mentioned the balance of all doner-advised charitable funds has grown from $12.7 billion inb 2004 to $15.5 billion in 2005. It is a no-brainer that by giving easier access to these funds, it is a win-win scenario for everybody involved.
From WSJ:
The Fidelity Charitable Gift Fund is making it easier for charity-minded investors to use a donor-advised fund by lowering its initial contribution minimum to $5,000.
While its major competitors haven't announced similar cuts, the lower threshold, announced last week, could increase participation in such funds and create a ripple effect in the industry.
Donor-advised funds typically make charitable donations as directed by the people who establish them. Donors receive a tax deduction for the gift when they contribute to the fund but can recommend at a later time how the money should be donated. The funds also allow donors to contribute appreciated stock without incurring a capital-gains tax.
Until now, donors generally have had to make an initial donation of $10,000 to $25,000 in cash, stock or other assets. By reducing the initial contribution threshold, Fidelity -- which has the largest donor-advised fund program in the country, with $3.6 billion in assets -- hopes to attract more donors, especially younger ones.
Stacy Palmer, editor of the Chronicle of Philanthropy, predicts other large donor-advised funds will lower their thresholds, especially if Fidelity gets a good response.
03/04/07 | Are Mutual Fund Managers Gaming The (Morningstar) System?
01/29/07 | Mutual Fund Tax Bills Are Climbing
01/09/07 | The 10 Hottest Selling Mutual Funds
01/03/07 | 2006 Morningstar Fund Managers of the Year
11/26/06 | Will Fidelity Magellan Ever Beat The Market Again?
11/21/06 | Featured Fund: Vanguard Wellington (VWELX)
11/18/06 | Target-Date Funds Launched at American Funds
11/13/06 | Mutual Fund Investors: $20 Billion Tax Bomb On The Horizon
11/13/06 | Mutual Funds Pass $10 Trillion Mark In Assets
11/12/06 | How to Start Investing in Mutual Funds
11/01/06 | Is Bill Miller's Lucky Streak About To Be Over?
10/31/06 | International Fixed Income Fund Recommendations
10/23/06 | 10 Best Domestic Equity Mutual Fund Managers
10/22/06 | The Cost Of Market Timing In Mutual Fund Investing
10/20/06 | Is Bill Gross's Winning Streak Coming To A Close?
10/20/06 | Kiplinger's Pick Of Best Mutual Funds
10/17/06 | Ford 401(k) Plan To Drop Fidelity Magellan
10/15/06 | What Are Insurance Bonds?
10/15/06 | What Are Superannuation Funds?
10/15/06 | What Are Unit Trusts?
10/15/06 | What Is Group Investment Fund?
10/15/06 | What Are Managed Investments?
10/15/06 | Mutual Fund Investors: Be Prepared For Your Tax Bite
10/10/06 | Many Fund Manager Changes At Fidelity
10/10/06 | Which Fund Companies Are Really Thinking Long Term?
10/08/06 | Bond Funds Have Their Own Risks
10/08/06 | Fidelity's Large Funds Lag The Market (FMAGX, FCNTX)
10/08/06 | Longleaf Funds Are Reopened To Investors
10/06/06 | Biggest Fund Exodus in 2006
10/05/06 | Morningstar Fund Pick: Fidelity Balanced (FBALX)
10/05/06 | Morningstar Small-Value Fund Picks
10/05/06 | Morningstar Large-Value Fund Picks
10/05/06 | Morningstar Mid-Value Fund Picks
10/03/06 | What Is A Mutual Fund's R-Squared?
10/03/06 | What Is A Mutual Fund's Redemption Fee?
10/03/06 | What Is A Mutual Fund's Net Asset Value (NAV)?
10/03/06 | What Is A Mutual Fund's Turnover?
10/03/06 | What Is 12b-1 Fee?
10/03/06 | What Is A Mutual Fund's Beta?
10/03/06 | What Is A Mutual Fund's Load?
10/03/06 | What Is A Mutual Fund's Alpha?
10/03/06 | What Is Mutual Fund's Expense Ratio?
10/03/06 | Best Fixed-Income Funds And Managers
10/01/06 | Morgan Stanley Launches First China A-Share Fund
10/01/06 | International Stock Fund Managers Fail To Beat Index
09/28/06 | 2006 Best Mutual Funds From USA Today - Moderate Funds
09/28/06 | 2006 Best Mutual Funds From USA Today - Conservative Funds
09/28/06 | 2006 Best Mutual Funds From USA Today - Aggressive Funds
09/20/06 | Three Great Mutual Funds For Global Exposure
09/19/06 | How To Buy Mutual Funds
09/19/06 | Fund Scandal Payouts Likely To Be Small
09/14/06 | What Is Money Market Fund?
09/14/06 | What Is Foreign Stock Fund?
09/14/06 | What Is Growth Fund?
09/14/06 | What Is Value Fund?
09/14/06 | Different Types of Bond Funds
09/13/06 | Nine Stellar Funds That Beat The Market
09/12/06 | Sure Ways To Improve Mutual Fund Investment Returns
09/11/06 | Money Magazine: Best Foreign (International) Stock Funds for 2006
09/11/06 | Money Magazine: Best Bond (Fixed-Income) Funds for 2006
09/11/06 | Best Index Funds For Every Thing
09/11/06 | Money Magazine: Best Small-Cap Stock Funds for 2006
09/11/06 | Money Magazine: Best Large-Cap Stock Funds for 2006
09/11/06 | Money Magazine: Best Mid-Cap Stock Funds for 2006
09/11/06 | Be Careful With "Life Cycle" Funds
09/11/06 | Socially Responsible Funds
09/11/06 | Good Questions For Target-Date (Lifecycle) Funds
09/10/06 | Money Funds Are Gaining Ground
09/10/06 | Understanding Mutual Fund Classes: Class C
09/10/06 | Understanding Mutual Fund Classes: Class B
09/10/06 | Understanding Mutual Fund Classes: Class A
09/10/06 | Morningstar Pick: Fidelity Spartan 500 Index Investor (FSMKX)
09/10/06 | Morningstar Pick: Dodge & Cox International Stock (DODFX)
09/10/06 | Finding The Right Foreign Fund
08/26/06 | Fund Exodus: The Biggest Fund Outflow in 2006
08/24/06 | Three Funds Trump the Bond King
08/23/06 | Kiplinger 25: Best Bond Funds
08/23/06 | Kiplinger 25: Best Specialized Funds
08/22/06 | Kiplinger 25: Best International Stock Funds
08/21/06 | Kiplinger 25: Best Large-Cap Value Funds
08/21/06 | Mutual Fund Managers Become Pessimistic
08/20/06 | Kiplinger 25: Best Large-Cap Growth Funds
08/20/06 | Kiplinger 25: Best Small and Midsize Company Funds