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.
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 5 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $7.4b during the year ending 06/2020. While expenses have increased by 20.7% per year over the past 5 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 174,930 individual grants totaling $20,210,267,025. 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 |
|---|---|---|---|
Pamela Norley President | Officer | 40 | $0 |
David Scoglio Treasurer | Officer | 40 | $0 |
Michael Mcnally Secretary (until 10/30/2019) | Officer | 40 | $0 |
Stefan Podvojsky Sr. Vp, I&p | Officer | 40 | $0 |
Jacob Clauson See Schedule O | Officer | 40 | $0 |
Richelle Tucker Asst Sec (as Of 10/30/19) | Officer | 40 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fmr Llc Admin & Inv Mgmt Svc | 6/29/20 | $81,515,973 |
Wilmerhale Legal Services | 6/29/20 | $4,136,431 |
Iconiq Capital Invest. Management | 6/29/20 | $3,569,444 |
Jordan Park Invest. Management | 6/29/20 | $3,053,716 |
Ubs Financial Services Invest. Management | 6/29/20 | $4,655,793 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $10,716,447,620 |
| Noncash contributions included in lines 1a–1f | $6,842,590,387 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,716,447,620 |
| Total Program Service Revenue | $0 |
| 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 organizations and domestic governments. | $7,275,861,934 |
| 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 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 | $6,215,820 |
| 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 |
| Net Land, buildings, and equipment | $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 | $35,184,853,872 |
| Net assets with donor restrictions | $46,163,130 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $35,369,008,813 |
Grants Awarded
Over the last fiscal year, Fidelity Investments Charitable Gift Fund has awarded $7,136,422,470 in support to 56,777 organizations.
| Grant Recipient | Amount |
|---|---|
Baltimore, MD PURPOSE: For grant recipient's exempt purposes | $336,378,194 |
Jenkintown, PA PURPOSE: For grant recipient's exempt purposes | $210,226,608 |
Washington, DC PURPOSE: For grant recipient's exempt purposes | $80,989,214 |
San Francisco, CA PURPOSE: For grant recipient's exempt purposes | $80,595,267 |
CORP OF THE PRES OF THE CHURCH OF JESUS CHRIST OF PURPOSE: For grant recipient's exempt purposes | $71,147,767 |
Cambridge, MA PURPOSE: For grant recipient's exempt purposes | $63,611,310 |
Grants Recieved
Over the last fiscal year, we have identified 18 grants that Fidelity Investments Charitable Gift Fund has recieved totaling $15,678,266.
| Awarding Organization | Amount |
|---|---|
The Justin And Valerie Blair Potter Foundation Chicago, IL PURPOSE: PUBLIC SUPPORT | $9,434,403 |
Jewish Communal Fund New York, NY PURPOSE: General support | $1,407,048 |
Raymond James Charitable Endowment Fund St Petersburg, FL PURPOSE: GENERAL USE AND/OR SPECIAL FUND/PROJECT | $1,279,939 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $974,528 |
The Justin And Valerie Blair Potter Foundation Chicago, IL PURPOSE: PUBLIC SUPPORT | $934,067 |
Servant Foundation Overland Park, KS PURPOSE: COMMUNITY DEVELOPMENT | $396,755 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Fidelity Non-Profit Management Foundation Boston, MA | $2,021,140,913 | $383,592,162 |
Food Bank For New York City New York, NY | $57,044,886 | $144,517,137 |
The Bridgespan Group Inc Boston, MA | $68,749,194 | $54,704,306 |
Hispanic Federation Inc New York, NY | $32,885,689 | $37,917,734 |
Grhs Foundation Inc Rochester, NY | $145,059,752 | $37,575,532 |
New Profit Inc Boston, MA | $64,312,700 | $21,481,917 |
Common Fund For Non-Profit Organizations Wilton, CT | $4,189,942,831 | $274,004,992 |
Nonprofit Finance Fund New York, NY | $192,260,531 | $22,521,757 |
Affiliates Risk Management Services Inc New York, NY | $21,783,257 | $23,268,805 |
Program Development Services Inc Brooklyn, NY | $14,951,100 | $20,476,692 |
Npower Inc Brooklyn, NY | $8,552,596 | $14,295,556 |
Project Social Care Head Start Brooklyn, NY | $3,359,590 | $16,877,219 |