Donors using a Fidelity Charitable donor-advised fund (DAF) recommended $11.2 billion in grants in 2022, nearly $1 billion more than during 2021, according to data in Fidelity Charitable 2023 Giving Report.
This giving level represents a 9% increase compared to 2021 during a 12-month period when the S&P 500 stock indexes experienced a 19% decline. In total, donors recommended 2.2 million individual grants to 189,000 charities.
There was an average of 11.8 grants awarded per account. The average grant grew slightly to $4,798, an increase of about $391 per grant compared to 2021.
“Despite volatile market conditions and economic unknowns, Fidelity Charitable donors stepped forward to bolster the critical work of nonprofits in our communities, recommending almost $1 billion more to charities than in the prior year,” said Fidelity Charitable President Jacob Pruitt.
In 2022, 63% of donor grant recommendations were designated “where needed most,” basically unrestricted gifts.
Donors also used their donor-advised fund accounts to support charities focused on emerging situations in the United States and abroad. For example, donors responded to the humanitarian crisis in Ukraine by recommending hundreds of millions in grant dollars to provide aid, moving several charities into the top 20 most popular for 2022 among donors using the DAF. These include the United States Fund for UNICEF, International Rescue Committee, and Save the Children Federation, the latter of which rose to appear in the ranking for the first time.
Disasters closer to home — including flooding in Kentucky and Hurricane Ian in Florida — also contributed to a surge in support and top-20 rankings for disaster relief organizations like World Central Kitchen and Samaritan’s Purse that simultaneously responded to crises in the U.S. and Ukraine.
Data from the 2023 Giving Report includes:
- Demonstrating donors’ commitment to providing a reliable, consistent stream of revenue to their favorite charities, 77% of grants in 2022 went to nonprofits previously supported.
- While most charitable contributions in the United States are made in cash, checks, or credit cards, 57% of Fidelity Charitable contributions in 2022 were made in the form of more strategic non-cash assets, enabling donors to give more.
- In 2022, donors contributed $1.4 billion in non-publicly traded assets, such as restricted stock, private equity, and limited partnership interests. Fidelity Charitable experts help donors identify the smartest assets to contribute and quickly convert these difficult-to-donate assets into cash available for granting.
- Three-quarters of donors’ contribution dollars are granted within five years of receipt.
For more information, view the full report here.
