Grants from Fidelity Charitable Donor-advised Funds Increased 33 Percent to Nearly $1.5 Billion, in First Half of 2015
As Nepal Earthquake Recovery Progresses, Fidelity Charitable Identifies Six Areas Where Donors Can Make a Difference in Relief Efforts
BOSTON, July 15, 2015 – Fidelity Charitable made a record of more than 310,000 donor-recommended grants totaling nearly $1.5 billion to charities during the first half of 2015, a 33 percent increase over the same period last year. Today, the organization also released updated guidance for donors seeking to support the Nepal earthquake recovery efforts as part of its ongoing disaster philanthropy initiative. Fidelity Charitable is an independent public charity that administers a donor-advised fund program to fulfill its mission to make charitable giving simple and effective.
"The acceleration of granting reflects our donors’ active approach to philanthropy," said Amy Danforth, president of Fidelity Charitable. "Our program relieves donors of much of the administration associated with giving so they can focus their energy on the most fulfilling part of philanthropy, recommending grants to support their favorite causes."
During the first half of 2015, grants recommended by Fidelity Charitable donors:
- Supported more than 69,000 charities, including nonprofits in all 50 states and some international charities.
- Recommended grants ranging from $50 to many millions of dollars, with an average grant size of $4,700.
- Recommended 166 grants of $1 million or more, totaling $329 million, a 60 percent increase in grants of that size over the first half of 2014.
Since inception in 1991, 65 percent of contributions to Fidelity Charitable have been expended—more than $20 billion in grants in all, supporting more than 210,000 charities.
Three Months Later: How Donors Can Support Earthquake-Recovery in Nepal
As the earthquake-recovery efforts progress in Nepal, aid organizations are beginning to shift their focus from short-term triage to helping stabilize the country. Organizations working on the ground have told Fidelity Charitable their current focus is helping the Nepali people withstand the monsoon season and return to their daily lives by restoring critical services and infrastructure.
The giving guidance released today to support donors who want to support the cause identifies six primary areas of need: shelter, sanitation and public health, health facilities, women’s health, child nutrition and education. It also lists 12 charities working in Nepal that have a strong, established record of excellence in disaster relief services.
"In fluid situations like the Nepal recovery efforts, timely information empowers donors to take action," said Matt Nash, senior vice president of donor engagement for Fidelity Charitable. "Nearly one-third of our grants designated for Nepal relief were directly linked to the giving guidance we posted two days after the first earthquake. We hope this new information will, again, help donors confidently support the cause."
Through June 30, Fidelity Charitable made more than 5,811 donor-recommended grants, totaling nearly $7.8 million, designated for the Nepal relief efforts.
2015 Fiscal Year Results
Fidelity Charitable also announced its 2015 fiscal year results today. From July 1, 2014, through June 30, 2015, the organization distributed $2.9 billion in grants at the recommendation of its donors, a 32 percent increase from the previous year and a payout ratio of 28 percent.1
1 Fiscal year grants divided by a five-year rolling average of ending assets.
About Fidelity Charitable
Fidelity Charitable is an independent public charity that has helped donors support more than 210,000 nonprofit organizations with more than $20 billion in grants. Established in 1991, Fidelity Charitable launched the first national donor-advised fund program. The mission of the organization is to further the American tradition of philanthropy by providing programs that make charitable giving simple and effective. For more information about Fidelity Charitable, visit http://www.fidelitycharitable.org.