Wednesday, September 18, 2019

Fidelity Charitable® Trustees’ Initiative Grants $6.4 Million to Strengthen Social Sector Infrastructure

Initiative shifts its strategy to focus on the support systems charities need to accomplish their missions

BOSTON–(BUSINESS WIRE)–Today Fidelity Charitable® released its 2019 Fidelity Charitable Trustees’ Initiative Impact Report, which details the $6.4 million the program granted to organizations working to shore up the infrastructure of the nonprofit and philanthropic sectors, an area that is essential to the community at large while also being one of the most underfunded. The Fidelity Charitable Trustees’ Initiative is a direct grantmaking program separate from the Fidelity Charitable donor-advised fund program.

The 23 grants made in the last fiscal year, totaling $6.4 million, provided funding for the shared resources, information, networks, research and advocacy that all donors and nonprofits need to achieve their intended impact. This year’s grantmaking strategy shift comes as a result of the initiative’s recent research to assess infrastructure funding needs. Recognizing that nonprofits often need long-term support for effective outcomes, 40% of this year’s grants are multi-year commitments.

“The important work of charities, whether their missions are to educate, advocate, cure disease, aid a population in need, preserve cultural heritage or provide spiritual support, relies on a solid foundation,” said Pamela Norley, President, Fidelity Charitable. “Just as roads and bridges provide critical structures to support society, nonprofits need infrastructure to support their frontline work of doing good in the world.”

Two key pillars form the grantmaking strategy for the Fidelity Charitable Trustees’ Initiative:

  • Enhancing individual donors’ ability to make effective and informed giving decisions

    Seven organizations received grants in the 2018-2019 fiscal year to help individual donors make more effective philanthropy decisions. These organizations create resources and provide information that donors need to make informed decisions about charitable giving and volunteering. For example, VolunteerMatch is a national nonprofit working to connect volunteers with charities that rely on this support. The grant from the Fidelity Charitable Trustees’ Initiative will help develop an open technology platform for businesses to connect their employees with meaningful volunteer opportunities.
  • Strengthening intermediaries and networks that provide information, research and advocacy needed by nonprofits to achieve their intended impact

    Building nonprofit capacity:

    Leadership development, financial management, and technology skills are essential for nonprofits to do their work more effectively. These services are often provided by nonprofit intermediaries, who are well-positioned to reach charities across the country and create a ripple effect of positive change. The Fidelity Charitable Trustees’ Initiative made grants to five such intermediary organizations in the 2018-2019 fiscal year, including to Propel Nonprofits, which provides Midwest nonprofits with guidance, expertise and capital.

    Developing research and policy analysis

    One of the greatest challenges facing many nonprofits is a lack of access to rigorous research and policy analysis on issues affecting the sector. The Fidelity Charitable Trustees’ Initiative provided funds to organizations working to help charities understand and respond to policies and regulations related to nonprofit work. For example, the initiative made grants to Independent Sector, a national nonprofit that provides research and analysis on federal policies and tax law changes that impact charities.

    Enabling greater collaboration among nonprofits

    Greater coordination and data sharing among charities can amplify the impact of their limited resources and increase their efficiency. The Fidelity Charitable Trustees’ Initiative made grants to several organizations that support strategic collaboration among nonprofits. For example, a grant to the CDC Foundation will help develop a blueprint for a Global Health Crisis Coordination Center to align government, private, and philanthropic organizations in the aftermath of public health emergencies.

Flexibility in Giving

The Fidelity Charitable Trustee’s Initiative also made grants to support disaster recovery efforts and facilitated an associate-led grantmaking program, which distributed four $25,000 grants to charities selected by Fidelity Charitable associates.

For additional detail on the Fidelity Charitable Trustees’ Initiative and to read the full 2019 Impact Report, visit https://www.fidelitycharitable.org/about-us/trustees-initiative.html. The Fidelity Charitable Trustees’ Initiative report on gaps in infrastructure in the nonprofit and philanthropic sectors, which provides the basis for the shift in grantmaking strategy, can be found here: https://www.fidelitycharitable.org/insights/gaps-in-infrastructure.html

The Fidelity Charitable Trustees’ Initiative is a direct grantmaking program, separate from the Fidelity Charitable donor-advised fund, whose mission is to expand charitable giving and advance the nonprofit and philanthropic sectors.

About Fidelity Charitable

Fidelity Charitable is an independent public charity that has helped donors support more than 278,000 nonprofit organizations with more than $35 billion in grants. Established in 1991, Fidelity Charitable launched the first national donor-advised fund program. The mission of the organization is to grow the American tradition of philanthropy by providing programs that make charitable giving accessible, simple and effective. For more information about Fidelity Charitable, visit https://www.fidelitycharitable.org.

898068.1.0

Contacts

Corporate Communications

(617) 563-5800

[email protected]

Deanna Spaulding

(617) 563-8359

[email protected]

(c)2018 Business Wire Inc., All rights reserved.
Original Release: Business Wire

Leave a Reply

Please Login to comment

More Articles

McAfee Points To North Korea In Recent Turkish Financial...

On a statement released by McAfee on March 8, they suspected North Korean hackers to be those responsible for Turkey’s Financial Sector cyberattack. Despite it...

Toshi Rebrands To Coinbase Wallet With Better Features For...

Toshi is a mobile Ethereum based wallet. It was developed by Coinbase. The wallet is easy to use, it offers users desired functions, what’s...

Google’s New Plugin Aids Analysis Of The Ethereum Blockchain

Google launches news plugin that aids the cryptocurrency community in analyzing the Ethereum blockchain data and activities, as well as its development all within...

EOS-Based Game Suspiciously Pays Out $600K To Winner Within...

EOSBet game seems to be under attack as there has been a record of series of payout that suggests that, even though EOS consider...

Microsoft Bing Reportedly Blocked Over 5 Million Ads In...

Bing, one of the most famous search engine on the internet, currently revealed that they had blocked 5 million crypto advertisements under...

Blockchain; South Korean Government Sponsors Hackathon Project

The South Korean government has continued in its strides not only exploit the underlying potentials of the blockchain technology but to also promote the...

Crypto Startup Offers $100 Million Insurance Coverage to Avert...

QuadrigaCX cryptocurrency exchange is known to owe its customers C$190 million which it is unable to repay due to its inability to access such...

Why is Bitcoin sometimes spelt with an uppercase ‘B’...

This is a great question and one that many people wonder about. You will often see it written as bitcoin, while other times you...

You Could Be Paying With Mobile Cryptocurrency Across Carriers...

Japanese Telecoms giant, Softbank Corp. launches a Blockchain proof-of-concept protocol for cross-carrier mobile payments. The details were made known on softbank.jp in the early...

Crypto Won The Battle Against Banks Says Former Bank...

Bank institutions are the most important aspect in the financial world of each country. However, as financial technology or fintech and the crypto industry...

Can I Make Lots of Money Mining Bitcoins?

Many people have been looking at bitcoin mining as an alternative source of passive income. The machine does the work, while the person simply...

Crypto ATM In Switzerland Allows You To Sell Your...

Bitcoin Cash can now be easily availed in Switzerland as one major crypto ATM company in the country recently added BCH on...

Latest Articles

HMRC demands info on traders from crypto exchanges in...

HM Revenue & Customs (HMRC), the UK’s tax authority, sent out requests to several top cryptocurrency exchanges last month, for information regarding their customers. Specifically,...

Sygnum Becomes World’s First Licenced and Regulated Digital Asset...

Swiss-based Sygnum, a digital asset investment and solutions provider, has become one of the world's first licensed and regulated digital asset banks after receiving...

The Easiest Way to Pass Your Microsoft MCSA MD-100:...

If you try to think of things that don't use Information Technology in one way or another, it would be a very tough task....

Are Worries Over AI’s Effect on the Financial Jobs...

A recent study by Fountech has revealed that two-thirds of adults living in the UK are concerned that the Artificial Intelligence industry will leave...

Will Cryptocurrency Gambling Kill Land-Based Casinos?

It’s hard to deny that the internet has radically changed the gambling landscape. Sure, the common perception of gambling may still involve the glitz...

Why Some Financial Bubbles Are Necessary Economic Disasters

The history of the worldwide economy is punctuated by financial bubbles. They happen more often than we think.  Fortunly’s infographic below provides a comprehensive...

Microsoft 70-411 Exam: Everything You Need to Know

We can’t deny the fact that the world is moving towards the future faster than ever before. Not a day goes by that we...

Why US-based people can’t bet with bitcoins at online...

Online gambling using bitcoin has been happening since the time when cryptocurrency came into being. In the initial days, gamblers used to opt for...

Couple Pays For Breakfast Using Bitcoin, Community Finds This...

A Reddit user by the username u/portageco recently made a post in bitcoin's official subreddit. In his post, u/portageco boasts about how he paid...

Australian Woman Leads Adoption, Tours 10 Countries Spending Cryptocurrencies

Who says you can't go around the world spending cryptocurrencies? As many believe, cryptocurrencies are only good for speculations. But with a little research,...

Did A Physical Bitcoin Just Sell For $99k On...

As at the time of reporting, the listing on eBay had closed. This could be because the seller got a buyer or he decided...

Litecoin Now Approved In 30,000+ Stores

As cryptocurrencies gain ground, more and more technology-based firms find ways to incorporate the nascent technology into everyday life. Moon, prior to this time,...