Covid-19 relief efforts helped drive the dollar value and number of grants made by Vanguard Charitable to new highs for fiscal year 2020, which ended June 30, announced Vanguard Charitable, a nonprofit organization and sponsor of donor-advised funds.
Grants made during the fiscal year increased by 51% for a total of $1.7 billion, Vanguard said. The number of grants that were made during the fiscal year increased 32% with more than 165,000 grants being made to nearly 46,000 different charities.
“Fiscal year 2020 brought significant societal challenges, and we are proud of the generosity of our donors and their willingness to step up and support the many diverse nonprofits that are transforming lives and communities,” Jane Greenfield, president of Vanguard Charitable, said in a statement.
The onset of the Covid-19 pandemic resulted in a 44 percent year-over-year increase in giving between February 1, 2020, and June 30, 2020, to close out the fiscal year. During this period, donors gave more than $669 million in grants to support both COVID-19 related relief efforts and nonprofits that have been left without access to traditional fundraising and revenue channels, Vanguard said.
The top charitable causes supported during 2020 included Covid-19 relief, religious organizations, human services, education and health. “Balancing both short-term and long-term goals remains critical as the need for Covid-19 recovery and ongoing philanthropic support will continue,’ Vanguard said.