Anna Spangler Nelson
Board of Trustees
Amy N. Danforth
A Letter from the Chair and the President
Dear Fellow Donor:
In communities across our country and around the globe, charitable organizations are doing important work, both to address immediate critical needs and to help create a better future for us all over the long term. This has been an exciting year for us, as we’ve seen more and more donors like you embracing our donor-advised fund program and using their Giving Accounts® to make a substantial impact for the charitable causes they care about.
The fiscal year that ended on June 30, 2014, set new records. Our contributions rose to $3.8 billion, an increase of 5 percent over the previous year. More significantly, you helped us achieve a key milestone for granting activity: It was the first time that our donor-recommended grants exceeded $2 billion. In total, your generosity resulted in more than 500,000 grants totaling $2.2 billion, a 23 percent increase over the previous year. These grants were distributed on behalf of our donors to nearly 86,000 charitable organizations.
We’ve also seen that our donors’ commitment to actively using their Giving Accounts to support charities is deep and consistent over time. In an analysis we conducted for the Fidelity Charitable Giving Report, which we released publicly in early June, we learned that 90 percent of funds contributed to Fidelity Charitable since inception in 1991 had been distributed to charities within 10 years.
Programs launched in the previous fiscal year to facilitate grants and speed the delivery of funds to charitable organizations also grew. By June 30, more than 600 charities had downloaded DAF Direct, an online application that allows donors with donor-advised funds to initiate grant recommendations directly from a charity's website. DAF Direct was developed in collaboration with a consortium of public charities, including those that offer donor-advised fund programs. In addition, charities can now choose to receive approved grants via electronic funds transfer within 24 hours instead of receiving them through the mail. Nearly 450 charities had signed up for this program by fiscal year end, allowing them to put grants to use even more rapidly.
As we look ahead, we are excited about our continued trajectory of growth—growth that is rooted in our mission of furthering the American tradition of philanthropy through programs that make giving simple and effective. We’re grateful to you for your generosity and for choosing us to help facilitate your charitable giving. You make a difference, and we’re so proud to help you.
Anna Spangler Nelson and Amy N. Danforth