Sat Feb 11 2012
American Endowment Foundation (AEF) reported $14 million in donor contributions to its donor advised fund program for the first seven months of 2010. This represented an increase of 125 percent over the like period for 2009.
At the same time, donors recommended $14 million in grants to charitable organizations in 2010, an increase of 27 percent over 2009. In commenting on AEF's numbers, Chairman/CEO Phil Tobin noted the encouragingly strong grant making activity of its donors in spite of turbulence in the economy.
Founded in Hudson in 1993, American Endowment Foundation is the largest independent sponsor of donor advised funds in the country and ranks among the top 1 percent of charitable organizations nationally as evaluated by the industry's watchdog, CharityNavigator. Since inception, AEF has received more than $325 million in contributions and has distributed more than $100 million in grants on the advice of its donors.
AEF also announced that Laura Malone of Lakewood was promoted to the position of director of gift planning for AEF, and Alan Strauss, founder of Sales Concepts, a sales and sales management firm of Westlake, was re-elected as a member of AEF's all-volunteer board of directors.
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