Vanguard Charitable Endowment Program enjoyed record growth in contributions last year, thanks to foundation and corporate cash gifts that increased above historical patterns, according to a statement released Wednesday. These gifts constituted 70% of total contribution dollars in 2011.
Vanguard Charitable, a public charity, also reported strong growth in new accounts and grants recommended.
The organization provided these details:
- Contributions into the donor-advised fund surpassed $859 million in 2011, an increase of more than 75% from 2010, and a high in the organization's 14-year history.
- The number of new accounts opened at Vanguard Charitable increased nearly three-fold to 987 during 2011, another record.
- The number of grants recommended from Vanguard Charitable DAF accounts increased by more than 10%, with some 37,000 grants totaling approximately $495 million donated to other charities.
Vanguard attributed the surge in new DAF accounts to renewed interest in donating appreciated stock and mutual funds.
