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February 15, 2024 at 02:58 PM
A report issued this week by Fidelity Charitable shows that the nonprofit organization facilitated $11.8 billion in donations to charities in 2023, with some 322,000 donors making 2.3 million grants via donor-advised funds.
According to the report, this is a quadrupling of the impact achieved by Fidelity Charitable donors over the past decade — despite the challenges presented by inflation and ongoing economic concerns.
Donors displayed an enduring commitment to the organizations and causes they care about through their continued giving, according to Fidelity Charitable. Specifically, grants went to a record 199,000 unique organizations both large and small, with funds reaching local, national and international groups.
Fidelity Charitable’s data shows that, on average, three-quarters of the dollars that donors contribute to a donor-advised fund are granted to a cause within five years of receipt. Giving patterns were consistent in 2023, the report finds, with donors remaining steadfast to the causes that move them. Education, human services and religious organizations were the top sectors supported.
A significant majority (78%) of grants went to charities that donors had previously supported, and 96% of individual grants included the account name or the recommending donors’ names and addresses, showing open support for the causes that donors care about.
