Donor Advised Funds now hold over $327 billion in assets. A quarter of all individual giving in the U.S. is made through donor-advised funds, giving their sponsors vast power to decide which charities can receive donor dollars.
Nonprofits Under Threat
Nonprofits are facing investigations, threats to their funding, and pressure on the institutions that support them. In April, we learned that Fidelity Charitable, Vanguard Charitable, and Schwab DAFgiving360 restricted grants – without due process – to the Southern Poverty Law Center after the Department of Justice filed a case against the SPLC.
When institutions cave, every targeted nonprofit is more vulnerable. DAF providers depend on donors' assets, so moving your DAF shows that caving has a cost.
SPLC’s trial has been postponed until February, so what happens before then will set the precedent.
Money Talks: What You Can Do
Many of you have already signed on, contacted your DAF provider, or asked to stay in the loop. Thank you. Now we're asking you to take the next step and to bring others with you — especially if your DAF is at Fidelity Charitable, which has a Board meeting and donor retreat in October.
On DAF Day, Thursday, October 8 at 2 pm PT / 5 pm ET, our friends at Free Your DAF are bringing donors together to move their DAFs to providers that stand with the nonprofits they fund.
On the call, Free Your DAF will:
- Share where the campaign stands
- Walk through how to move your DAF, step by step - It's simpler than most people expect, and we'll walk you through it!
- Answer your questions
- Give you time to start your transfer right there
At the end of October, Fidelity Charitable’s board meets in New Orleans. We want to arrive with solid numbers: donors who have moved their DAFs, or who are ready to. That means collective action has to happen before then. Here’s how you can help:
- Move your DAF on DAF Day, October 8. Every transfer counts toward the numbers we bring to the board.
- Go to Embark! if you’re invited. Fidelity is hosting its invite-only Embark! Philanthropy Retreat for its largest DAF holders October 19-21 in Westerly, RI. It’s a rare chance to raise these concerns directly. If you were invited, or know someone who was, reply to this email, and we’ll help you prepare.
Fidelity Charitable needs to hear from its donors. Help us make it loud.
Know other DAF holders? Forward this email and invite them to join you on October 8. Collective action is what makes this work.
