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Grants From Fidelity Donor-Advised Funds Top $5 Billion This Year

By  Dan Parks
October 16, 2019

Donor-advised-fund accounts managed by Fidelity Charitable made more than $5.25 billion in grants so far in 2019 to 125,000 charities, Fidelity announced Wednesday.

That amount exceeds the $5.2 billion disbursed in all of 2018.

With more than two months still to come in 2019, the total for this year appears likely to exceed $6 billion.

Fidelity stated in a news release that grant making from donor-advised funds tends to hold up even when financial markets or the economy are struggling. “For example, despite market fluctuations and tax reform uncertainty that caused a 1.1 percent drop in individual giving in 2018, grants recommended by Fidelity Charitable donors increased by 17 percent that year,” Fidelity Charitable stated in a news release.

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Donor-advised-fund accounts managed by Fidelity Charitable made more than $5.25 billion in grants so far in 2019 to 125,000 charities, Fidelity announced Wednesday.

That amount exceeds the $5.2 billion disbursed in all of 2018.

With more than two months still to come in 2019, the total for this year appears likely to exceed $6 billion.

Fidelity stated in a news release that grant making from donor-advised funds tends to hold up even when financial markets or the economy are struggling. “For example, despite market fluctuations and tax reform uncertainty that caused a 1.1 percent drop in individual giving in 2018, grants recommended by Fidelity Charitable donors increased by 17 percent that year,” Fidelity Charitable stated in a news release.

One recent study supports the idea that grant making from donor-advised funds tends to be resilient during economic recessions, making those accounts important “rainy-day” sources of funding for charities during tough times.

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Fidelity Charitable reported $27 billion in total assets for fiscal 2018.

Dan Parks is the managing editor of the Chronicle of Philanthropy.

We welcome your thoughts and questions about this article. Please email the editors or submit a letter for publication.
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Dan Parks
Dan joined the Chronicle of Philanthropy in 2014. He previously was managing editor of Bloomberg Government. He also worked as a reporter and editor at Congressional Quarterly.
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