Who runs Fidelity Charitable?

Pamela Norley has led Fidelity Charitable since 2016. Pamela Norley jumped aboard the Fidelity Investments train 23 years ago as associate general counsel.

Is Fidelity Charitable legitimate?

While legally classified as a 501(c)(3) nonprofit, Fidelity Charitable is a charity in name only. In fact, it functions as a middleman where donors can invest their money for as long as they like before giving it to what most of us would recognize as a real charity.

Is Fidelity Charitable A DAF?

When you contribute cash, securities or other assets to a donor-advised fund at a public charity, like Fidelity Charitable, you are generally eligible to take an immediate tax deduction. …

Is Fidelity Charitable part of fidelity?

Fidelity Charitable is the brand name for Fidelity Investments® Charitable Gift Fund, an independent public charity with a donor-advised fund program. Various Fidelity companies provide services to Fidelity Charitable.

Is Fidelity Charitable a nonprofit?

Fidelity Charitable is an independent, 501(c)(3) public charity. We sponsor the largest donor-advised fund program in the country. … If you would like to make it easier for Fidelity Charitable donors to recommend grants to your nonprofit directly from your website, consider adding the DAF Direct widget to your website.

How big is Fidelity Charitable Fund?

As the largest grantmaking organization in the country, Fidelity Charitable made 1.4 million grants in fiscal year 2019, totaling more than $6 billion. With this record- breaking amount, our donors made ripples across the nonprofit sector, supporting 146,000 charities in all 50 states and around the world.

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Is Fidelity Charitable a 50 limit Organization?

Since Fidelity CharitableSM is an independent public charity, you are eligible for the maximum tax deduction for your charitable contribution: Cash equivalents: 50% of Adjusted Gross Income (AGI)

What does Fidelity Charitable do?

Fidelity Charitable is a 501(c)(3) public charity. We help donors maximize their generosity through our donor-advised fund, called the Giving Account. Established in 1991, we are the nation’s top grantmaker, distributing $9.1 billion to charities in 2020.

What happens to a DAF when you die?

When you contribute to a donor advised fund during your lifetime, you are eligible for an immediate income tax deduction. When your estate makes a contribution to a DAF at your death, there may be estate or inheritance tax benefits, in addition to income tax benefits.

Can donor advised funds give to churches?

Once you set up the DAF, you are able to donate assets such as cash, stocks, real estate, and other investments into the fund to be used for your giving strategy. … DAFs are an excellent giving tool for public charities as well as your local church donations for tithing.

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