Fidelity Charitable made $2B in donor-recommended grants through September

BOSTON – Fidelity Charitable reached $2 billion in donor-recommended grants during the first nine months of the year.
The organization said it reached the $2 billion mark earlier than ever – two months before any previous year.
It also noted that it added five new investment options to grow charitable giving.
More than 81,000 charities were supported by the grants.
“Through September, grant-making accelerated 26 percent over the same period last year, even amid the recent market turmoil,” Amy Danforth, president of Fidelity Charitable, an independent public charity that uses a donor-advised fund model, said in a statement.

“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,” Danforth said.

Since Fidelity Charitable’s inception in 1991, 66 percent of all contributions for donor-advised funds have been expended, resulting in more than $20 billion in grants, supporting more than 210,000 charities, the organization said.

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