American Express is launching is its own entry into the charitable fund arena. The firm will open the American Express Charitable Giving Program next week on November 1, 2001.

The program will be administered through a partnership with the National Philanthropic Trust (NPT), a national public charity, and GivingCapital. Contributions require at least $25,000 to open an account.

The firm is expected to use its network of 11,000 financial planners to distribute the new fund.

As with other programs, investors will be able to make tax-deductible, irrevocable contributions to a non-profit organization managing the program. The donor then advises the non-profit to invest the assets according to the donor' short and long-term charitable goals, investment time frame and objectives. The donor can then recommend grants to approved charitable organizations at any time.

The firm will use 14 AXP Funds as investment vehicles.  

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