Fidelity Charitable, the nation’s largest grantmaker, announced that 2022 was another record-setting year, with $11.2 billion in grants awarded by its donor-advised fund holders, up 9% over 2021.
What makes the new record even more notable was that the donations came during a year of high inflation and recession worries. In fact, 2022 was a rare year when grants flowing out of Fidelity Charitable’s donor-advised funds outpaced the investments going into them.
Critics of donor-advised funds complain that grants can be delayed indefinitely. Congress is currently considering legislation to change that, including the bipartisanthat would require grants to be made from those accounts within 15 years. “There’s always a fear that there’s one more question that can be asked or one other cause or organization that might be better around the corner,” Foster said. “The truth is that you only become a better philanthropist by being active today. Typically, acting today does not come at the opportunity cost of what you might do in the future. If anything, it opens doors to more opportunity.”
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