Fidelity Charitable has announced that it awarded a record $2.6 billion in grants in 2014, while a survey of its donors found that four in five volunteered at some point during the year.
The nation's largest donor-advised fund program reported a 24 percent year-over-year increase in total grant dollars awarded, with some 620,000 grants awarded to 92,000 charities. The average grant size awarded through a Fidelity donor-advised fund was $4,100, and donors recommended 277 gifts of at least $1 million totaling some $612 million, an 18 percent year-over-year increase.
In addition, a survey of three hundred and fifty Fidelity Charitable donors found that 79 percent of respondents reported volunteering in the past year, with over two-thirds (67 percent) saying they had volunteered more than fifty hours and 49 percent saying they volunteered for three or more organizations. According to the survey, Time and Money: The Role of Volunteering in Philanthropy (executive summary, 7 pages, PDF), 84 percent of those who currently volunteer expect to maintain (52 percent) or increase (32 percent) their commitments in the coming years, while 87 percent said there's an overlap between the organizations they support financially and where they volunteer, and 50 percent said their volunteer work with a charity leads them to give more financial support to the organization.
Among issue areas, the survey found that volunteers are most likely to donate both time and money to religious, educational, and human services organizations, while environmental and animal welfare groups and international affairs are more likely to receive only financial support.
"Our donors are highly involved in their favorite causes and attuned to their needs," said Fidelity Charitable president Amy Danforth.