Fidelity Charitable Donors Support Charities Through Volunteer Work, Record Grant Recommendations
(Press release, Jan. 26, 2015) — Fidelity Charitable donors recommended a record of nearly $2.6 billion in grants to support more than 92,000 charities in 2014. In a recent survey, the majority of Fidelity Charitable donors also showed themselves to be highly committed to donating time, with 79 percent having volunteered in the past year and two-thirds (67 percent) of volunteers committing more than 50 hours to their favorite charities. Fidelity Charitable is an independent public charity with a donor-advised fund program.
"Our donors are highly involved in their favorite causes and attuned to their needs," said Amy Danforth, president of Fidelity Charitable. "Their passion for causes large and small drives their desire to support many wonderful organizations through both time and money. Their commitment to maximizing their charitable impact drives their use of donor-advised funds for their philanthropy and pushes our granting to new highs year after year."
Volunteer Activity Can Boost Financial Support, Varies With Age
Committing time to the causes they care about is a key component of many donors' philanthropy, and in a study of more than 350 Fidelity Charitable donors, 84 percent of volunteers plan to maintain or increase their volunteer hours.
This could be a positive sign for charities that rely on volunteers' time and expertise — as well as donations — to help fulfill their missions. Half of volunteers surveyed indicated they were inspired to give more because they volunteered their time, and two out of five donated their time to a charity before making a financial gift.
Donors near retirement age, 61 to 70 years old, were the most active volunteers with more than half (54 percent) giving more than 100 hours in the past year and 82 percent planning to maintain or increase their volunteer hours. Donors near retirement age have a strong interest in volunteer opportunities that require a specific skill set (65 percent) and were the most likely to donate professional services (41 percent). The study data suggest donors in this age group are seeking opportunities to continue utilizing their expertise in different ways as they wind down their careers.