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July 16, 2014

Grants From Fidelity Charitable and Schwab Charitable Up Sharply

Fidelity Charitable's donor-advised fund program announced that its clients made gifts totaling $1.1-billion in the first half of 2014, a 19-percent increase over the first half of 2013, according to a news release.

Meanwhile, clients of donor-advised fund Schwab Charitable made contributions totaling $822-million in fiscal year 2014, a 38-percent increase from the previous year, writes San Francisco Business Times.

Donors contributed $1.2-billion to Fidelity Charitable during the same period.

Both groups said the increases in gifts were due to the improving economy and consumer confidence.

Fidelity's grants went to more than 59,000 charities in the same six months, and Schwab's fiscal 2014 grants benefited 34,500 organizations.

Fidelity Charitable placed second in The Chronicle of Philanthropy's most recent Philanthropy 400 list of the country's largest charities ranked by fundraising, and Schwab Charitable 18th.

Read a Chronicle of Philanthropy article about the growth in size and frequency of gifts from Fidelity Charitable.