Nepal earthquake victims and Syrian refugees were among the beneficiaries of Fidelity Charitable donations in 2015, which reached another record high for the year, Fidelity Charitable announced Thursday.
Grants to 106,000 charities totoal $3.1 billion, a record high.
Since its inception 25 years ago, Fidelity Charitable donor-advised fund has given $21 billion in grants. Grant amounts this year ranged from $50 to multimillion-dollar grants, with an average grant size of $4,200, a slight increase compared to 2014. Donors recommended 329 grants of $1 million or more, a 27 percent year-over-year increase. In 2015, Fidelity Charitable made more than 733,000 donor-recommended grants, an 18 percent increase from 2014.
Among the philanthropic gifts were a total of $3.3 million to support refugee relief and $8.3 million for earthquake victims in Nepal.
"Despite the market downturn this year, our donors continued to show dedication to giving back," says Amy Danforth, president of Fidelity Charitable. "One of the inherent strengths of donor-advised funds is that they enable sustained giving. Donors who contribute to donor advised funds irrevocably commit those funds to philanthropy. This makes their ability to give – year in and year out – less sensitive to market fluctuation and provides a source of ongoing support to thousands of charities nationwide."