Fidelity Charitable is the largest grant-making nonprofit in America, exceeding the Gates Foundation for the first time since 2015.
In fiscal year 2018, according to its latest Internal Revenue Service numbers, Fidelity Charitable’s donor-advised funds made a total of $4.8 billion in grants. The Gates Foundation distributed $4.6 billion during its 2018 fiscal year. The Gates numbers were revealed after it filed its 2018 tax documents this past November.
For the Gates Foundation, the $4.6 billion in grants was a 4.4 percent increase over its fiscal 2017 grants, totaling $4.4 billion. Fidelity Charitable’s grants, on the other hand, grew by 27.5 percent in fiscal 2018, rising from 3.8 billion in fiscal 2017.
Michael Theis writes about data and accountability for the Chronicle, conducting surveys and reporting on fundraising, giving, salaries, taxes, and more. He recently wrote about the sharp increase in donor-advised funds and about a new ratings site that measures charity impact . He also compiled data for our November report on America’s Favorite Charities. Email Michael or follow him on Twitter.
Correction: A graphic with a previous version of this article said that grants from Fidelity Charitable’s donor-advised funds totaled $48 billion in 2018. The correct figure is $4.8 billion; the graphic has been updated.
