Vanguard Charitable Endowment Program Grants Nearly $400 Million to Public Charities across the United States

MALVERN, Pa.--(Business Wire)--
Grants recommended from the Vanguard Charitable Endowment Program`s
donor-advised accounts have continued to positively impact society in difficult
times, with $383 million granted to charities nationwide over the twelve months
ended June 30th, 2009. This represents a modest decline of 11% from the previous
fiscal year, and is the first time the Program has reported a decline in grants.

Charities supporting human services garnered the majority of the Program`s grant
dollars, with 64% of total grants directed to such organizations, an increase of
13% from the prior fiscal year. Educational organizations received 16% of grants
and 11% of recommended grants supported religious organizations. Recipients of
the balance of Program grants included charities supporting civic, health,
environmental, and wildlife causes.

"While difficulty in the financial markets has had a clear and direct impact on
donors` ability to give to charity, we are heartened by the giving that has
occurred in difficult times," said Benjamin R. Pierce, the Program`s Executive
Director. "We continue to encourage donors to recommend grants to trusted
charities and, to help facilitate this, we have increased our outreach to donors
in these times of need to encourage granting - and have made system improvements
to make giving easier and more efficient."

In addition to the slight decline in granting from the Program, new and
additional contribution dollars to the Program declined by 20%, from $670
million contributed during fiscal 2008 to $533 million in fiscal 2009. This
year`s contributions were marked by a shift to cash contributions, rather than
gifted securities, along with contributions resulting from the termination of
private foundations, a trend that has gained momentum during the recession as
donors seek to simplify and reduce the costs of their charitable giving.

The Program`s results for fiscal year 2009 reflect a far-reaching decline in
charitable giving. Nationally, granting during calendar year 2008 was down, with
a 2% real decrease in grantmaking reported in Giving USA`s "Annual Report on
Philanthropy." It was the first decline in giving since 1987 and the second
since the organization began issuing its report in 1956.

About Vanguard Charitable Endowment Program

With more than 6,800 accounts, $1.8 billion in assets and more than $2 billion
in grants to other public charities since its inception in 1997, the Vanguard
Charitable Endowment Program is among the largest charitable organizations in
the nation. The Program is a public charity (as described in sections 501(c)(3)
and 509(a)(1) of the United States Internal Revenue Code) established to
increase philanthropy across the United States. Through its donor-advised
accounts, the Program promotes charitable giving by working with individual and
corporate donors seeking a simple, low-cost way to coordinate their
philanthropic planning. Although it was founded by Vanguard, the Endowment
Program is an independent organization governed by its own Board of Trustees.
Additional information about the Program`s donor-advised funds is available at
the Program`s website, www.vanguardcharitable.org.

Vanguard Charitable Endowment Program
James Barnes, 610-503-5931
james_barnes@vanguardcharitable.org

Copyright Business Wire 2009