Fidelity Charitable donors recommended a record $5.2 billion from their donor-advised funds (DAFs), according to a just released report by the charity. Last year’s grantmaking activity – $700 million more than in 2017 – underscores the value of DAFs, which continue to be the fastest-growing vehicle for giving in the United States. Nearly 1.3 million grants benefited over 140,000 charitable organizations around the world.
Fidelity reports the average Giving Account recommending more than 10 grants annually, nearly twice the average 10 years ago; three quarters of contribution dollars are distributed by way of grants within five years.
The 2019 Giving Report provides key insights into Fidelity Charitable donor activities.
Schwab Charitable™ also reported a record number of grants for 2018.