The Fidelity Charitable Gift Fund gave $846 million in grants last year, setting a new record and signaling a strengthening market. The fund also received 21% more in donations last year, compared to 2004.

"These milestones reflect the continued generosity of our donors and demonstrate how donor-advised funds continue to bring more individuals to philanthropy by making giving simpler and more effective," said David Giunta, president of the 15-year old fund.

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