Philanthropy
Fidelity Charitable Trumpets Donor Advised Funds Model
The organization said the figures highlight the use people are making of donor advised funds.
Fidelity Charitable, the US public charity and grant-maker, reported that its donor-recommended grants stood at a record $1 billion this year, surging 42 per cent from a year ago.
The grants in 2018 benefited more than 62,000 charities.
After logging a 20 per cent increase in new Giving Accounts in 2017, Fidelity Charitable’s granting is outpacing this growth, the organization, founded in 1991, said. Additionally, grant volumes are also up, with a 25 per cent increase in the total number of grants issued compared to a year ago. Since its founding, the organization has made more than $30 billion in donor-recommended grants.
The figures demonstrate the value of donor advised funds, a channel for philanthropic giving, Fidelity Charitable said.
This news service has written about the arguments around the case
for DAFs and alternative structures – see here and
here.
