Fidelity Investments Charitable Gift Fund
SEE SCHEDULE O
IRS Tax Year 2022
Period ending June 30, 2023
Total Revenue
$14.7B
Total Expenses
$10.5B
Net Assets
$55.9B
Employees
0
Grants Paid
$10.4B
Program Expense Ratio
100.0%
This nonprofit profile presents IRS Form 990 tax filing data for Fidelity Investments Charitable Gift Fund (EIN: 11-0303001), based on the 2023 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, top independent contractors, governance policies and audit information, related tax-exempt organizations. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Fidelity Investments Charitable Gift Fund is a 501(c)(3) nonprofit headquartered in BOSTON, MA, founded in 1990. The organization has held tax-exempt status since 1991. In its 2022 filing, the organization reported $14.7B in total revenue, a 25.8% decrease from the prior year, and $10.5B in total expenses. The organization runs 1 program, totaling $10.5B in program expenses. 4 of 6 recommended governance policies are in place.
Fidelity Investments Charitable Gift Fund is classified under NTEE code S500. Its foundation type is 15.
Programs(Tax Year 2022)
1 record
Fidelity Investments Charitable Gift Fund operates 1 program, with total program expenses of $10.5B. Fidelity Investments Charitable Gift Fund's largest program accounts for 100% of total program spending.
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Financial Overview(Tax Years 2019–2022)
5 records
Over the past 5 years, Fidelity Investments Charitable Gift Fund's revenue has grown from $12.3B to $14.7B, a 20.2% increase. Program expenses represent 100% of total spending.
Revenue decreased 25.8% year-over-year, while expenses declined 9.4%. net assets rose to $55.9B, up 16.2% from the prior year.
Fidelity Investments Charitable Gift Fund derives 86% from contributions and grants, with 14% from investment income.
Revenue is primarily driven by contributions and grants (86%), with investment income at 14%.
Revenue declined by 25.8% and expenses declined by 9.4% year over year.
Fidelity Investments Charitable Gift Fund distributed $10.4B in grants to other organizations and individuals, representing 98% of total expenses.
Over 5 filings from 2019–2022, Fidelity Investments Charitable Gift Fund grew revenue from $12.3B to $14.7B (+20.2%) while maintaining a program expense ratio of 100%.
Fidelity Investments Charitable Gift Fund holds $56.7B in total assets against $758.6M in liabilities (debt-to-asset ratio of 1%). The organization has 63.6 months of operating reserves. Cash and equivalents of $2.4B cover approximately 2.7 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2022 | $14.7B | $12.6B | $0 | $0 | $2.1B |
| 2021 | $19.9B | $15.2B | $0 | $0 | $4.7B |
| 2021 | $19.9B | $15.2B | $0 | $0 | $4.7B |
| 2020 | $18.6B | $15.3B | $0 | $0 | $3.3B |
| 2019 | $12.3B | $10.7B | $0 | $0 | $1.5B |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2022 | $10.5B | $10.5B | $0 | $0 | $10.4B |
| 2021 | $11.6B | $11.6B | $0 | $0 | $11.4B |
| 2021 | $11.6B | $11.6B | $0 | $0 | $11.4B |
| 2020 | $10.2B | $10.2B | $0 | $0 | $10.1B |
| 2019 | $7.4B | $7.4B | $0 | $0 | $7.3B |
Program Expense Ratio
100.0%
Admin Expense Ratio
—
Fundraising Efficiency
—
Operating Reserve
63.6 mo
People & Compensation(Tax Year 2022)
17 records
Fidelity Investments Charitable Gift Fund reported compensation for 17 officers and key employees.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| CATHERINE D'AMATO | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| JENNIFER MCAULIFFE | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| JOHN MUSE | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| LEONARD MENDONCA | CHAIR/TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| NANCY ALTOBELLO | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| ROSIE RIOS | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| THOMAS C STEWART | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| DAMIAN WILMOT | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| TYRA A MARIANI | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| JOHN HALABY | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| TODD WILLIAMS | TRUSTEE | Director | 1.00 | $0 | $0 | $0 |
| JACOB PRUITT | PRESIDENT | Officer | 40.00 | $0 | $0 | $0 |
| DAVID SCOGLIO | TREASURER | Officer | 40.00 | $0 | $0 | $0 |
| JACOB CLAUSON | SECRETARY | Officer | 40.00 | $0 | $0 | $0 |
| STEFAN PODVOJSKY | SR. VP, I&P | Officer | 40.00 | $0 | $0 | $0 |
| RICHELLE TUCKER | ASST. SECRETARY | Officer | 40.00 | $0 | $0 | $0 |
| CINDY GOMEZ | ASST. SECRETARY | Officer | 40.00 | $0 | $0 | $0 |
Top Contractors(Tax Year 2022)
5 records
Fidelity Investments Charitable Gift Fund reported 5 contractors receiving over $100,000, with total contractor payments of $139.9M.
| Name | Service | Compensation |
|---|---|---|
| FMR LLC | ADMIN & INV MGMT SVC | $127,446,866 |
| ICONIQ CAPITAL | INVEST MANAGEMENT | $6,040,362 |
| JORDAN PARK | INVEST MANAGEMENT | $4,022,146 |
| PWC US TAX LLP | AUDIT & TAX SERVICES | $1,314,194 |
| WILLIAM BLAIR CO LLC | INVEST. MANAGEMENT | $1,118,066 |
Governance & Compliance(Tax Year 2022)
Fidelity Investments Charitable Gift Fund has 4 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 10 members, 9 of whom are independent.
Fidelity Investments Charitable Gift Fund's financial statements are audited, an audit committee oversees the process, accounting follows GAAP standards.
Fidelity Investments Charitable Gift Fund delegates management duties to an outside firm.
Policies & Oversight
Audit & Financial Oversight
Grants Awarded(Tax Year 2022)
72328 records
Fidelity Investments Charitable Gift Fund awarded $9.3B across 72328 grants to organizations. Top recipients include NATIONAL PHILANTHROPIC TR (JENKINTOWN, PA) — $195.0M for for grant recipient's exempt purposes; SCHWAB CHARITABLE FUND (ORLANDO, FL) — $183.1M for for grant recipient's exempt purposes; THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS (SALT LAKE CTY, UT) — $125.8M for for grant recipient's exempt purposes.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| NATIONAL PHILANTHROPIC TR237825575 | JENKINTOWN, PA | $195.0M | For grant recipient's exempt purposes |
| SCHWAB CHARITABLE FUND311640316 | ORLANDO, FL | $183.1M | For grant recipient's exempt purposes |
| THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS870234341 | SALT LAKE CTY, UT | $125.8M | For grant recipient's exempt purposes |
| PRESIDENT AND FELLOWS OF HARVARD COLLEGE042103580 | CAMBRIDGE, MA | $101.0M | For grant recipient's exempt purposes |
| NEW VENTURE FUND205806345 | WASHINGTON, DC | $90.8M | For grant recipient's exempt purposes |
| GREATER HORIZONS200849590 | KANSAS CITY, MO | $62.3M | For grant recipient's exempt purposes |
| AMERICAN ENDOWMENT FOUNDATION341747398 | HUDSON, OH | $57.8M | For grant recipient's exempt purposes |
| THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIO941156365 | REDWOOD CITY, CA | $46.7M | For grant recipient's exempt purposes |
| CORNELL UNIVERSITY150532082 | BOONE, IA | $42.9M | For grant recipient's exempt purposes |
| HOPEWELL FUND473681860 | WASHINGTON, DC | $41.9M | For grant recipient's exempt purposes |
| LUCILE PACKARD FOUNDATION FOR CHILDRENS HEALTH770440090 | PALO ALTO, CA | $41.8M | For grant recipient's exempt purposes |
| BEYGOOD FOUNDATION873502092 | ENCINO, CA | $40.0M | For grant recipient's exempt purposes |
| TRUSTEES OF DARTMOUTH COLLEGE020222111 | HANOVER, NH | $37.8M | For grant recipient's exempt purposes |
| BRADLEY IMPACT FUND INC454678325 | MILWAUKEE, WI | $35.3M | For grant recipient's exempt purposes |
| TELESCOPE FUND862577635 | WASHINGTON, DC | $33.0M | For grant recipient's exempt purposes |
| MEDECINS SANS FRONTIERES USA INC133433452 | NEW YORK, NY | $31.1M | For grant recipient's exempt purposes |
| MEDICAL DEBT RESOLUTION INC471442997 | LONG ISLAND CITY, NY | $30.7M | For grant recipient's exempt purposes |
| CONNECTICUT PROJECT INC872622825 | BRIDGEPORT, CT | $30.0M | For grant recipient's exempt purposes |
| UNIVERSITY OF CALIFORNIA BERKELEY FOUNDATION946090626 | BERKELEY, CA | $29.5M | For grant recipient's exempt purposes |
| WASHOE COUNTY SCHOOL DISTRICT886000919 | RENO, NV | $28.7M | For grant recipient's exempt purposes |
Showing 20 of 72328 grants.
Foreign Activities(Tax Year 2022)
Activities span Central America and the Caribbean, Europe (Including Iceland and Greenland), Middle East and North Africa, Sub-Saharan Africa, South America.
Regions & Countries
| Region / Country | Activity | Expenditure |
|---|---|---|
| Central America and the Caribbean | — | — |
| Europe (Including Iceland and Greenland) | — | — |
| Middle East and North Africa | — | — |
| Sub-Saharan Africa | — | — |
| South America | — | — |
| North America | — | — |
| East Asia and the Pacific | — | — |
| South Asia | — | — |
| Central America and the Caribbean | — | — |
| Europe (Including Iceland and Greenland) | — | — |
Supplemental Financial Data(Tax Year 2022)
Fidelity Investments Charitable Gift Fund operates a donor-advised fund (DAF) program with 190,162 accounts.
Filing History(Tax Years 1991–2022)
5 records
Showing the 5 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2022 | 990 | 2022-07-01 – 2023-06-30 | $14.7B | $10.5B | $55.9B |
| 2021 | 990 | 2021-07-01 – 2022-06-30 | $19.9B | $11.6B | $48.1B |
| 2021 | 990 | 2021-07-01 – 2022-06-30 | $19.9B | $11.6B | $48.1B |
| 2020 | 990 | 2020-07-01 – 2021-06-30 | $18.6B | $10.2B | $49.6B |
| 2019 | 990 | 2019-07-01 – 2020-06-30 | $12.3B | $7.4B | $35.2B |
| 1991–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Fidelity Investments Charitable Gift Fund do?
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How much revenue does Fidelity Investments Charitable Gift Fund have?
Fidelity Investments Charitable Gift Fund reported $14,732,623,803 in total revenue for tax year 2022, down 25.8% from the prior year.
Who is the highest-paid executive at Fidelity Investments Charitable Gift Fund?
CATHERINE D'AMATO, TRUSTEE, received $0 in total compensation as of tax year 2022.
Is Fidelity Investments Charitable Gift Fund a 501(c)(3)?
Yes, Fidelity Investments Charitable Gift Fund is classified as a 501(c)(3) tax-exempt organization.
Where is Fidelity Investments Charitable Gift Fund located?
Fidelity Investments Charitable Gift Fund is headquartered in BOSTON, MA 2210.
Is Fidelity Investments Charitable Gift Fund audited?
Yes, Fidelity Investments Charitable Gift Fund's financial statements are audited, and the organization has an audit committee.
Does Fidelity Investments Charitable Gift Fund give grants?
Yes, Fidelity Investments Charitable Gift Fund distributed $10,356,741,867 in grants to other organizations and individuals in tax year 2022. Top recipients include NATIONAL PHILANTHROPIC TR, SCHWAB CHARITABLE FUND, THE CHURCH OF JESUS CHRIST OF LATTER-DAY SAINTS.
Does Fidelity Investments Charitable Gift Fund operate internationally?
Yes, Fidelity Investments Charitable Gift Fund conducts activities outside the United States. Activities span Central America and the Caribbean, Europe (Including Iceland and Greenland), Middle East and North Africa, Sub-Saharan Africa, South America.
Data Source
Prepared by: PwC US Tax LLP, BOSTON, MA
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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