Fidelity Charitable says record $3.5B in grants made in 2016

FIDELITY CHARITABLE on Wednesday said it made a record $3.5 billion in grants on behalf of its donors last year, a 15 percent increase over 2015.
FIDELITY CHARITABLE on Wednesday said it made a record $3.5 billion in grants on behalf of its donors last year, a 15 percent increase over 2015.

BOSTON – Fidelity Charitable on Wednesday said it made a record $3.5 billion in grants on behalf of its donors last year, a 15 percent increase compared with 2015.

More than 75,000 individual grants were made to more than 110,000 charities with $3.5 billion in total grants, all in 12 months, Fidelity Charitable said.

Fidelity Charitable, to commemorate its 25th anniversary, challenged donors to recommend a cumulative $25 billion in grants by the end of last year. As a result of the record grant-making, the organization’s donors met the challenge and surpassed the goal on Dec. 16, according to the independent public charity.

“The dedication to giving with impact and the variety of causes our donors support is a constant source of inspiration for me and everyone at Fidelity Charitable. Our donors’ generosity helps millions of Americans every year, and we are privileged to help them give back to local, national and global communities,” Pamela Norley, president, Fidelity Charitable, said in a statement.

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“Reaching this milestone of $25 billion in 25 years is the latest reminder of Fidelity Charitable’s responsibility to continually improve our support to our donors who seek to do good.”

Fidelity Charitable said key drivers that fueled increased grant recommendations in 2016 included strong financial markets; a renewed sense of urgency among donors to support causes they care about after the presidential election; support for disaster-related giving, including a desire to help those affected by the global refugee crisis, as well as natural disasters; and the increasing popularity of donor-advised funds.

A detailed breakdown of Fidelity Charitable’s habits will be released in June as part of its annual Giving Report.

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