Fidelity Charitable® reached $2 billion granting milestone earlier than ever and added five new investment options to grow charitable giving
BOSTON, Oct 22, 2015 – This year, Fidelity Charitable reached $2 billion in donor-recommended grants about two months earlier than any previous year, beating the record set in 2014. The grants supported more than 81,000 charities.
The organization also added five new pools to its investment options, including an impact investment pool that was specifically requested by donors. Fidelity Charitable now has 20 investment pool options for donor-advised fund assets, including pools managed by both Fidelity and non-Fidelity investment managers.
"Through September, grant-making accelerated 26 percent over the same period last year, even amid the recent market turmoil," said Amy Danforth, president of Fidelity Charitable. "This highlights one of the advantages of donor-advised funds: many donors are able to sustain a consistent level of support during difficult market periods, because donors with donor-advised funds have already committed funds to a charitable purpose. We're a small part of the overall growth in giving in the U.S., but our donors have a significant impact with the grants they recommend."
Since inception, 66 percent of all contributions to Fidelity Charitable for donor-advised funds have been expended—resulting in more than $20 billion in grants, supporting more than 210,000 charities.
With a growing number of donors seeking socially responsible investment strategies for donor-advised fund assets, Fidelity Charitable added an impact investment pool to its options for donor-advised funds. Other newly added pools include three actively managed single-asset-class pools and a short-term fixed income access pool.
"These five new options reflect a continuation of the board's commitment to ensuring that donors are able to align their investment preferences with their charitable goals," said Anna Spangler Nelson, chair of the board of trustees for Fidelity Charitable.
Since Fidelity Charitable's inception in 1991, its investment options have made an additional $3.6 billion available for grant-making1. It is another powerful way that Fidelity Charitable helps its donors provide more support for their favorite charitable causes.
1 Based on cumulative contributions since inception minus cumulative grants since inception, subtracted from assets as of Dec. 31, 2014.
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 https://www.fidelitycharitable.org.