Vanguard announced Tuesday that Karin Risi, a Vanguard managing director who leads the Retail Investor Group, has been elected to the board of trustees of Vanguard Charitable, a national donor-advised fund that is celebrating its 20th anniversary with a total of nearly $6.5 billion in grants to charities.
“Karin’s business leadership skills and commitment to the nonprofit sector will be valuable to Vanguard Charitable as it continues to drive its mission to increase philanthropy through its low-cost, high-value donor-advised fund,” said Jack Brennan, chairman of the Vanguard Charitable board, in a statement.
Vanguard Charitable says it has experienced “rapid growth,” with a 31% increase in new accounts in 2016 compared with a year earlier. Nearly 30,000 charities in the United States and internationally received funding by Vanguard Charitable in 2016 through grants totaling $686 million.
Risi, who holds B.S. and MBA degrees from Villanova University, joined Vanguard in 1997 and has held various leadership roles in her nearly 20-year tenure.
A breast cancer survivor, RISI is a passionate advocate for those affected by the disease and also serves as the board chair for Unite for HER, a nonprofit that supports breast cancer patients throughout the region.
“I’m grateful for the opportunity to serve with an organization that has such a profound impact on charitable giving,” said Risi, in the statement. “With almost $6.5 billion in grants, it’s clear that Vanguard Charitable’s focus on long-term, strategic planning is resonating with donors and charities alike. I’m excited to contribute to such a talented team focused on maximizing the impact of philanthropic giving.”