Yes, a grant recommendation is a great way to honor or memorialize someone. When submitting your grant recommendation, select "In memory of" or "In honor of" from the drop-down menu in the "Use" field. From here, you will be able to add a special note with the information of the individual you are honoring or memorializing.
Yes, you can generally support these sorts of fundraising efforts. Please note that Account Holders cannot support their own fundraising commitments when there is a legally enforceable financial obligation. When submitting your grant recommendation, select "race, run, walk" from the "Use" field and enter the racer’s name and other relevant information such as race name and number. To help expedite processing, you may further specify in the designation that "the grant is not connected to a legally enforceable pledge or financial obligation."
You may recommend a grant for general support/recognition for the event; however, grants intended to pay any portion of the cost of attendance to a charitable event(s) cannot be made from your Giving Account. This includes bifurcated or “split” gifts* where a donor pays for the non-tax-deductible portion of the admission fee out of pocket, and then recommends the tax-deductible portion from their Giving Account. The full admission fee the charity requires you to pay in connection to your attendance at the event, including the tax deductible and non-tax-deductible portions, must be paid out of pocket and separate from any Fidelity Charitable grants. If you have paid the full admission fee to attend and intend to recommend a grant above and beyond that amount for which you will be receiving no goods or service, please indicate this to Fidelity Charitable when recommending your grant by selecting the "Create your own" option in the "Use" field and adding "the full minimum cost to attend has already been paid outside of this grant," in addition to any other specifics you would like to include. If you are not attending the event at all, please indicate this by selecting "charity event - not attending" in the "Use" field.
*For more information regarding bifurcated payments for tickets or event attendance from donor-advised funds, see IRS Notice 2017-73.
Here's an example:
Rebecca would like to attend the Annual Gala at her favorite charity. The charity offers individual tickets priced at $500 ($250 tax-deductible) or a Patron Sponsorship for $10,000 that comes with 10 tickets for seats at a premium table ($7,500 tax-deductible). Rebecca would like to use all 10 seats so her friends and family can attend the gala with her. For Rebecca to be within Fidelity Charitable policy, she would have to pay the full minimum ticket price of $500 for each attendee, totaling $5,000.
She may recommend a grant for the remaining $5,000 from her Fidelity Charitable Giving Account as long as this amount is considered fully tax-deductible with no goods or services being provided in connection to the grant. When recommending the grant, Rebecca can make Fidelity Charitable aware of this by selecting the "Create your own" option in the "Use" field and adding "the full minimum cost to attend has already been paid outside of this grant," in addition to the other event details she included.
You may not use your Fidelity Charitable Giving Account for lobbying, for political contributions, or to support political campaign activities.
Grant recommendations can be made in support of non-legally binding pledges. Accordingly, you may tell charities that you "intend to recommend a grant from your donor-advised fund in the amount of [$]" so they know your grant recommendation is being made in response to a charitable organization’s request for a commitment.
When submitting a grant recommendation online, once you confirm that the charity does not consider your pledge to be legally binding, select “Pledge (non-binding)” from the grant use menu.
Read this article for more information:
Can I make a pledge with a donor-advised fund?
A grant cannot be recommended for the tuition payment of a specific individual(s) chosen by the donor(s) or related third party. This includes, but is not limited to, grants for school tuition and other required fees, such as enrollment fees and deposits, fundraising obligations where the school considers the payment a non-deductible tuition payment.
You may, however, recommend a grant for the purpose of supporting a scholarship program established at and administered by a qualified public charity, so long as the recipient of the scholarship is not related to the recommending donor and does not satisfy a financial obligation of the recommending donor(s) or related third parties.
You may recommend a grant for this purpose if the organization confirms that its membership fee is 100% tax-deductible and that membership benefits are not more than incidental. If this is true, please indicate in the "Use" field that the membership level does not provide you with more than incidental benefits by selecting "Membership" from the drop-down menu when submitting your grant recommendation.
Benefits in connection with athletic funds (such as when the Account Holder receives benefits like the right to purchase tickets to sporting events) are prohibited. The full price required to receive these benefits must be paid out of pocket and separate from any Fidelity Charitable grants.
No. Fidelity Charitable cannot make grants that would provide a more than incidental benefit to the recommending donor or any third parties. This generally includes online individual fundraising efforts like GoFundMe.com.
No. Fidelity Charitable makes grants only to IRS-qualified public charities, and grant recommendations cannot provide any impermissible private benefit to the recommending donor or any third parties.
Grants must be recommended exclusively for charitable purposes with no more than incidental benefits to an Account Holder or related third party. A "more than incidental" benefit generally includes items with financial value, such as includes tickets to attend an event, raffle tickets, auction items, or the provision of any other goods or services. Certain items of minimal value are considered an "incidental benefit" such as logo-bearing keychains, coffee mugs, or calendars.