(Photo: Shutterstock) Fidelity Charitable Edges Out Gates Foundation as Biggest Grant Maker
The two grant-making nonprofits have duked it out for the top spot over the past six years.
December 23, 2019 at 09:58 PM
2 minute read
Charitable Giving
The original version of this story was published on Law.com
Fidelity Charitable has knocked the Gates Foundation off its perch as the top grant-making nonprofit organization in the U.S., The Chronicle of Philanthropy reported last week, citing recent Internal Revenue Service data.
Grants recommended by Fidelity Charitable's donor-advised fund account holders in fiscal 2018 totaled $4.8 billion, while the Gates Foundation distributed $4.6 billion during the same period. The Chronicle said the Gates numbers appeared in 2018 tax documents it filed in November.
This was the first time since 2015 that Fidelity Charitable passed the Gates Foundation in grantmaking.
The report said that Fidelity Charitable's grants increased by 27.5% over its 2017 fiscal year total of $3.8 billion. In contrast, Gates Foundation grants grew by 4.4% over the 2017 fiscal total of $4.4 billion.
Here's a look at the two giants' grantmaking of the past six fiscal years, according to The Chronicle:
- 2018: Fidelity Charitable – $4.8 billion; Gates Foundation – $4.4 billion
- 2017: Gates Foundation – $4.4 billion; Fidelity Charitable – $3.8 billion
- 2016: Gates Foundation – $4.3 billion; Fidelity Charitable – $3.2 billion
- 2015: Fidelity Charitable – $4.6 billion; Gates Foundation – $3.9 billion
- 2014: Fidelity Charitable – $3.8 billion; Gates Foundation – $3.4 billion
- 2013: Gates Foundation – $3.3 billion; Fidelity Charitable – $1.8 billion
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