Fidelity Charitable donors made more than 620,000 grants last year totaling nearly $2.6 billion, an increase of 24 percent over 2013, Fidelity Charitable announced Monday.
In addition, the majority of Fidelity Charitable donors also volunteered time to their favorite charities, a Fidelity survey shows.
Included in the donations were 277 grants of $1 million or more totaling $612 million, an 18 percent increase in large grants over 2013, Fidelity says. Average grant size was $4,100.
Donors used some of their money to support emerging needs, such as the Ebola crisis, which received more than 1,000 grants totaling nearly $5.5 million.
Since its inception in 1991, Fidelity Charitable has made donations to more than 190,000 charities for a total of nearly $19 billion, Fidelity reports.
A majority of donors (79 percent) also volunteered their time during the past year, with 67 percent of the volunteers committing more than 50 hours to their favorite charities.
Donors in or near retirement, 61 to 70 years old, were the most active volunteers, with 54 percent giving more than 100 hours in the past year and 82 percent planning to maintain or increase their volunteer hours, Fidelity says.
“Our donors are highly involved in their favorite causes and attuned to their needs,” says 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.”