The majority of Fidelity Charitable donors are concerned about the effects of the current economy on those around them, pushing many to say they plan to give more to charity, according to a recent report.
Close to 75% of Fidelity Charitable donors are worried about how others in their communities will handle the downturn, results of a survey of 969 Fidelity Charitable donors show.
In addition, 64% say they’re concerned about nonprofits, according to the survey.
As a result, 59% of respondents said they are thinking about giving more this year, the company says.
Fidelity Charitable also touts the effect of donor-advised funds, which let donors set up pools of funds specifically earmarked for charitable giving and then direct fund assets toward specific groups or needs.
According to the company, 67% of Fidelity Charitable donors say their charity contributions were bigger than they would have been without their donor-advised fund.
Half of the respondents in that group say that they like the ability to donate money when they want without having to figure out where the funds would come from, according to the survey.
Donors are also drawn to the financial benefits of such funds for themselves.
Fidelity Charitable says that it found that nine out of 10 respondents “consider how a donor-advised fund can help them maximize the financial impact of their donations for both themselves and the charities they support — through tax savings and tax-free investment growth of the assets.”
The survey was fielded in July and August.
Fidelity Charitable, formed in 1991, has close to 300,000 donors, the company says. Since its launch, the unit has helped steer more than $61 billion to more than 357,000 nonprofit organizations, according to the firm.