Initiative shifts its strategy to focus on the support systems charities need to accomplish their missions
BOSTON, MA, September 3, 2019 – Today Fidelity Charitable released its 2019 Fidelity Charitable Trustees’ Initiative Impact Report, which details the $6.4 million the program granted to organizations working to shore up the infrastructure of the nonprofit and philanthropic sectors, an area that is essential to the community at large while also being one of the most underfunded. The Fidelity Charitable Trustees’ Initiative is a direct grantmaking program separate from the Fidelity Charitable donor-advised fund program.
The 23 grants made in the last fiscal year, totaling $6.4 million, provided funding for the shared resources, information, networks, research and advocacy that all donors and nonprofits need to achieve their intended impact. This year’s grantmaking strategy shift comes as a result of the initiative’s recent research to assess infrastructure funding needs. Recognizing that nonprofits often need long-term support for effective outcomes, 40 percent of this year’s grants are multi-year commitments.
“The important work of charities, whether their missions are to educate, advocate, cure disease, aid a population in need, preserve cultural heritage or provide spiritual support, relies on a solid foundation,” said Pamela Norley, President, Fidelity Charitable. “Just as roads and bridges provide critical structures to support society, nonprofits need infrastructure to support their frontline work of doing good in the world.”
Two key pillars form the grantmaking strategy for the Fidelity Charitable Trustees’ Initiative:
Flexibility in giving
The Fidelity Charitable Trustee’s Initiative also made grants to support disaster recovery efforts and facilitated an associate-led grantmaking program, which distributed four $25,000 grants to charities selected by Fidelity Charitable associates.
For additional detail on the Fidelity Charitable Trustees’ Initiative and to read the full 2019 Impact Report, visit https://www.fidelitycharitable.org/about-us/trustees-initiative.html. The Fidelity Charitable Trustees’ Initiative report on gaps in infrastructure in the social sector, which provides the basis for the shift in grantmaking strategy, can be found here: https://www.fidelitycharitable.org/insights/gaps-in-infrastructure.html
The Fidelity Charitable Trustees’ Initiative is a direct grantmaking program, separate from the Fidelity Charitable donor-advised fund, whose mission is to expand charitable giving and advance the nonprofit and philanthropic sectors.
About Fidelity Charitable
Fidelity Charitable is an independent public charity that has helped donors support more than 278,000 nonprofit organizations with more than $35 billion in grants. Established in 1991, Fidelity Charitable launched the first national donor-advised fund program. The mission of the organization is to grow the American tradition of philanthropy by providing programs that make charitable giving accessible, simple and effective. For more information about Fidelity Charitable, visit https://www.fidelitycharitable.org.
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