SOURCE: FidelityCharitable.org/, 2020-10-07
This page last modified: 2021-10-25 18:40:40 -0700 (PST)
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"Fidelity Charitable is a 501(c)(3) public charity. We help donors maximize their generosity through our donor-advised fund, called the Giving Account. Established in 1991, we are the nation's top grantmaker, distributing $7.3 billion to charities in 2019.
"The Giving Account streamlines the process of strategic giving for a broad range of donors, allowing them to contribute many types of assets and plan their giving more systematically."
"Today, we work with nearly a quarter million donors. Since our founding, we have supported more than 300,000 charities in every U.S. state, as well as internationally, distributing nearly $42 billion in donor-recommended grants. Two thirds of Fidelity Charitable donors consistently say they give more as a result of having a donor-advised fund."
| Fidelity Charitable: financial statements (FYE June 30). | ||
| Source: Fidelity Charitable, 2019 Annual Report. | ||
| Year | 2019 | 2018 |
| Statements of Financial Position: | ||
| Total net assets | $30,976,730,408 ($31.0 billion) | 26,942,973,355 ($26.9 billion) |
| Total liabilities | $113,606,336 ($113.6 million) | $85,540,487 ($85.5 million) |
| Total assets | $31,090,336,744 ($31.1 billion) | $27,028,513,842 ($27.0 billion) |
| Statements of Activity: | ||
| Total revenues | $9,119,017,109 ($9.1 billion) | $9,458,135,366 ($9.5 billion) |
| Total grants and expenses | $6,164,989,844 ($6.2 billion) | $4,883,801,649 ($4.9 billion) |
| Number of Giving Accounts | 126,958 | 114,245 |
This article is a stub [additional content pending ...].
SOURCE: Wikipedia (Fidelity Investments), 2020-10-07
This page last modified: 2021-10-25 18:40:40 -0700 (PST)
Fidelity Investments Inc., commonly referred to as Fidelity, earlier as Fidelity Management & Research or FMR, is an American multinational financial services corporation based in Boston, Massachusetts on 245 Summer St, Boston, MA 02210.
Fidelity Investments is one of the largest asset managers in the world with US$3.3 trillion in assets under management as of June 2020 and a combined total customer asset value number of $8.3 trillion. Fidelity Investments operates a brokerage firm, manages a large family of mutual funds, provides fund distribution and investment advice, retirement services, index funds, wealth management, cryptocurrency, securities execution and clearance, and life insurance.
Fidelity Charitable manages a donor-advised fund (DAF), Fidelity Charitable, in 1991, becoming the first commercial DAF provider. As of 2017, Fidelity Charitable is currently the largest charity by donations from the public, surpassing the United Way of America. Tax donations to a DAF can be registered in the year of the donation, when the beneficiary may be being chosen.
In the 2007 Philanthropy 400, United Way Worldwide was again the largest charity in the United States, with 1,285 local United Ways reporting over $4.2 billion in contributions, a 2.2% increase over 2006. In May 2009, United Way of America and United Way International were integrated as one global entity, United Way Worldwide. [Source: Wikipedia.]
In a 2015 survey by Fidelity Charitable, 90% of donors who responded stated this benefit as the main reason for starting donations using a DAF. Donors also cite that this allows them to give more to charity. Investments in a DAF register interest until the distribution is given to a beneficiary. Fidelity Charitable produces a report "Women and Giving" that examines differences in giving attitudes, strategies and priorities across generations and gender.
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