Vanguard Charitable, a sponsor of donor-advised funds, is marking a fresh milestone in its multi-decade history in the charitable investing space.
The organization announced that it has surpassed $20 billion in grants to nonprofit organizations since its establishment in 1997, with funds distributed through 1.8 million grants to more than 130,000 nonprofits worldwide.
The growth in giving has been particularly notable in recent years, it said, with contributions doubling between February 2020 and September 2024.
"As we reflect on this remarkable milestone, I am grateful for our donors, their commitment to philanthropy, and their time with Vanguard Charitable to maximize their impact,” Rebecca Moffett, president of Vanguard Charitable, said in a statement. “We are proud our DAFs have increased philanthropy around the globe."
Right now, it's doing its part to drive some of that impact close to home. Last week, Hurricane Helene swept through several states across the Southeastern US, leaving a trail of devastation that's led to 200 fatalities and counting. In the wake of the calamity, reputable names in the philanthropic investing space including Vanguard Charitable, Fidelity Charitable, and the National Philanthropic Trust are raising awareness with lists of trusted charitable organizations where donors can direct their support.
DAFs have gained traction over the past two decades, going from a niche financial tool to a major force in charitable giving. In 2020 alone, Vanguard Charitable says donations to DAFs reached nearly $48 billion, making up about 10 percent of all charitable giving in the US. It reflects a 412 percent increase from 2010, eclipsing the 123 percent growth in giving to foundations over the same period.
Vanguard Charitable has also seen substantial growth in donor accounts, averaging a 41 percent increase each year since its inception. In early 2020, the organization hit a $10 billion granting milestone, and was able to double that amount in just four years with investment options and digital tools designed to enhance donor engagement.
Pointing to its own study on DAFs published in August, it argued that the longer donors maintain their DAFs, the more generous they become. Among its own DAF investor base, 71 percent of those who've had accounts open for over a decade reported they give more because of their DAFs. And compared to newer DAF owners, those who've been at it for at least 10 years also donate more in terms of consistency and pure dollar amounts on an annual basis, Vanguard Charitable added.
The firm's latest additions, led by a second-generation financial advisor, are striking out via its Linsco employee advisor channel.
The Fidelity-owned fintech aims to help advisors connect with mass market and mass affluent prospects with single-goal conversations.
The prospective chair of the agency has pledged to shed conflicted interests and "return common sense to the SEC."
'If I were on the side of Alpine Securities, I’d put all my eggs in the federal court,' one attorney said.
If approved, the proposed revisions would achieve outcomes similar to the existing process while reducing the burden of oversight.
Participants who receive professional 401(k) advice see higher returns on average, net, than those who don't.
This wealth management platform finally delivers on the technology promises other firms couldn't - giving advisors a better way to scale and serve
