501derful.org
Fidelity Investments, in an effort to increase giving, said yesterday that it was planning to cut the admin fees it charges in its Charitable Gift Fund by at least 40% . The move which goes into effect July 1st., will bring the admin fees on accounts of less than $500,000 to 0.6% from 1%.
Fidelity has billions of dollars in the Fund and under a new Federal law , should see that investors pay out at lest 5% of assets per year.
