Five DAF Sponsors Awarded $6.5 Billion in 2015

Grants awarded by five of the largest donor-advised fund sponsors, including Fidelity Charitable and Vanguard Charitable, totaled some $6.5 billion in 2015, the NonProfit Times reports.

As previously reported, Fidelity Charitable awarded a record $3 billion to more than a hundred thousand charities, a 19 percent increase on a year-over-year basis, with the number of donor-recommended grants increasing 18 percent over the same period to 733,000. Elsewhere, the National Philanthropy Trust in Jenkintown, Pennsylvania, announced that it distributed 25,026 donor-advised grants totaling more than $643.7 million; Vanguard Charitable announced that the number of grants it distributed rose 14 percent, to more than 64,000, shared among almost 28,000 charities; Schwab Charitable distributed $1.07 billion, a 15 percent increase; and the National Christian Foundation distributed $966 million, an increase of 4 percent.

"Donor-advised funds are the fastest-growing giving vehicle for a reason — they are easy to create and manage and give donors the opportunity to streamline their philanthropic vision," said Eileen Heisman, president and CEO of the National Philanthropic Trust.  "Whether it's turning a collection of eighteenth-century Chinese furniture into charitable dollars or issuing a $300 grant to help victims of the Nepal earthquake, we are proud to help donors realize their charitable intentions."

Mark Hrywna. "$6.5 Billion Granted Via Just 5 Donor-Advised Funds." NonProfit Times 02/16/2016.