Fidelity Charitable: New grants to surpass deposits in 2022

By GLENN GAMBOA
AP Business Writer

Fidelity Charitable, the nation’s largest grantmaker, expects 2022 will be the first year since 2018 that the value of grants from its donor advised funds exceeds the value of investments going into the funds. Jacob Pruitt, Fidelity Charitable’s president, told The Associated Press that donations this year are on track to set a record, even before counting gifts from GivingTuesday, which has grown into a major fundraising day for charities since its launch 10 years ago. In 2021, Fidelity Charitable donated more than $10 billion in donor-recommended grants to more than 187,000 organizations.