Fidelity Investments Charitable Gift Fund
- Assets
- $35.4b
- Revenue
- $12.3b
- Investments
- $3.0b
- Employees
- 0
- Location
- Boston, MA
- Founding
- 05/1991
- Data as of
- 06/2020
- EIN
- 11-0303001
Organization Overview
Fidelity Investments Charitable Gift Fund is located in Boston, MA. The organization was established in 1991. According to its NTEE Classification (S50) the organization is classified as: Nonprofit Management, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fidelity Investments Charitable Gift Fund is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Fidelity Investments Charitable Gift Fund generated $12.3b in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 14.7% each year . All expenses for the organization totaled $7.4b during the year ending 06/2020. While expenses have increased by 17.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Fidelity Investments Charitable Gift Fund has awarded 295,921 individual grants totaling $37,209,092,404. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richelle Tucker Asst Secretary | Officer | 40 | $0 |
Jacob Clauson Secretary | Officer | 40 | $0 |
Stefan Podvojsky Sr. Vp, I&p | Officer | 40 | $0 |
Pamela Norley President | Officer | 40 | $0 |
David Scoglio Treasurer | Officer | 40 | $0 |
Alfred E Osborne Jr Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wilmerhale Legal Services | 6/29/21 | $7,675,739 |
Iconiq Capital Invest. Management | 6/29/21 | $3,618,965 |
Ubs Financial Services Invest. Management | 6/29/21 | $5,934,755 |
Jordan Park Invest. Management | 6/29/21 | $4,142,348 |
Fmr Llc Admin & Inv Mgmt Svc | 6/29/21 | $94,105,367 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,716,447,620 |
| Investment income | $663,358,374 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $873,038,506 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,252,844,500 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $46,482,475 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $76,657,961 |
| Fees for services: Legal | $7,622,602 |
| Fees for services: Accounting | $2,591,722 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $31,835,831 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $7,447,268,345 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,866,023,758 |
| Savings and temporary cash investments | $87,166 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $92,105,982 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $30,362,143,066 |
| Investments—other securities | $2,977,462,730 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $71,186,111 |
| Total assets | $35,369,008,813 |
| Accounts payable and accrued expenses | $75,433,617 |
| Grants payable | $29,014,433 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $33,543,761 |
| Total liabilities | $137,991,811 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $35,231,017,002 |
Grants Awarded
Over the last fiscal year, Fidelity Investments Charitable Gift Fund has awarded $9,862,402,909 in support to 64,214 organizations.
| Grant Recipient | Amount |
|---|---|
Jenkintown, PA PURPOSE: For grant recipient's exempt purposes | $178,123,803 |
Salt Lake City, UT PURPOSE: For grant recipient's exempt purposes | $141,662,904 |
Washington, DC PURPOSE: For grant recipient's exempt purposes | $105,971,400 |
San Francisco, CA PURPOSE: For grant recipient's exempt purposes | $101,780,136 |
Chicago, IL PURPOSE: For grant recipient's exempt purposes | $100,288,056 |
Hudson, OH PURPOSE: For grant recipient's exempt purposes | $72,267,221 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Fidelity Investments Charitable Gift Fund has recieved totaling $3,735,975.
| Awarding Organization | Amount |
|---|---|
Olive Higgins Prouty Foundation Inc State Street Bank And Trust Boston, MA PURPOSE: GENERAL | $1,822,652 |
Fortisure Foundation San Francisco, CA PURPOSE: DISBURSEMENT TO PC | $1,265,330 |
Norr Fund Inc Narberth, PA PURPOSE: GENERAL SUPPORT | $647,993 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Food Bank For New York City New York, NY | $69,662,085 | $224,744,277 |
Fidelity Non-Profit Management Foundation Boston, MA | $2,237,901,889 | $256,876,248 |
The Bridgespan Group Inc Boston, MA | $174,186,501 | $94,948,133 |
Grhs Foundation Inc Rochester, NY | $150,651,211 | $43,275,253 |
Hispanic Federation Inc New York, NY | $50,299,555 | $50,097,384 |
Common Fund For Non-Profit Organizations Wilton, CT | $4,189,942,831 | $274,004,992 |
Affiliates Risk Management Services Inc New York, NY | $25,877,262 | $29,825,362 |
New Profit Inc Boston, MA | $113,525,114 | $77,118,974 |
Nonprofit Finance Fund New York, NY | $319,614,124 | $35,516,704 |
Npower Inc Brooklyn, NY | $16,868,984 | $22,673,461 |
Program Development Services Inc Brooklyn, NY | $16,969,361 | $21,610,144 |
Project Social Care Head Start Brooklyn, NY | $6,318,610 | $20,235,501 |