Boston – Hedge fund shares fast are becoming an important source of new donations for the Vanguard Charitable Endowment Program.
OAS_RICH(“Middle”); <a href=”http://oas-central.realmedia.com/RealMedia/ads/click_lx.ads/www.investmentnews.com/article/70416007/15620892959/493840214/Middle/crain/INO_COMMONWEALTH_LREC_ROS_0107/IN_omnibus.html/64313363623166313435633761366230?http://www.commonwealth.com/email_campaigns/ads/Commonwealth_trans_406.asp” target=”_blank”><img src=”http://a248.e.akamai.net/6/800/1129/1171490010/oascentral-s.realmedia.com/RealMedia/ads/Creatives/crain/INO_COMMONWEALTH_LREC_ROS_0107/IN_omnibus.jpg” width=336 height=250alt=”Click Here” border=0></a> Over the past 15 months, the $1.62 billion donor-advised fund founded in 1997 by The Vanguard Group Inc. in Malvern, Pa., has accepted 20 donations of hedge fund shares, according to executive director Ben Pierce. The biggest individual donation was valued at $10 million, he said.
“You get 50 people to do that in this country, and you’ve got some real, real, real money,†Mr. Pierce said, adding that donors can get breaks on capital gains taxes and fair-market-value tax deductions for their gifts.
