MALVERN, PA — Vanguard Charitable has achieved a monumental milestone, granting over $3 billion to nonprofits in fiscal year 2024. This amount marks a 45% increase from the previous year, symbolizing the charity’s commitment to diverse causes. This surge equates to providing 374 million meals, surpassing a meal per person across the United States. Since its inception over 25 years ago, Vanguard Charitable donors have contributed more than $19 billion to a wide array of nonprofits.
Rebecca Moffett, the president of Vanguard Charitable, highlights the evolving trend in charitable giving. “Among many generous giving trends, we’re seeing a theme of donors embracing personal community connections to ramp up their support for nonprofits,” Moffett said. This trend reflects a significant increase in unexpected and responsive donations, adding to the traditional planned giving strategies.
Donor-advised funds (DAFs) play a crucial role in this philanthropic landscape, offering flexibility and speed in deploying funds. Moffett explains, “The ability to leverage the power and flexibility of a DAF enables those already committed charitable dollars to deploy quickly—whenever a donor is inspired to give.”
David Pasta, a long-time donor, shares his journey with Vanguard Charitable. “I started my philanthropic journey with my Vanguard Charitable donor-advised fund many years ago,” he stated. He emphasizes how the growth of his DAF allowed him to support various causes, from local food banks to aiding the Maui community after the 2023 wildfires, without detracting from his ongoing commitments.
In fiscal year 2024, the top causes supported were human services, religion, and education, consistent with the previous year. The largest beneficiaries included Doctors Without Borders, World Central Kitchen, Planned Parenthood Federation of America, St. Jude Children’s Research Hospital, and Cru.
Moreover, Vanguard Charitable has embraced technological advancements to enhance its grant delivery process. A partnership with PayPal in late 2023 introduced an electronic grant delivery system, streamlining the transfer of funds to over 13,000 registered charities. This system eliminates the need for paper checks, expediting the delivery of grants—an essential feature for time-sensitive relief efforts.
The strategic implementation of these systems and the increased rate of unexpected giving reflect a broader culture of generosity among Vanguard Charitable’s donors. The 2024 edition of “Why Giving Matters” highlights that donors using DAFs for unexpected grants gave 39% more than those relying solely on planned giving. This trend is part of a decade-long increase, with unexpected giving rising by 24% annually.
Additionally, Vanguard Charitable’s “mosaic of generosity” map showcases the top charity in each state, underscoring the diversity and reach of the philanthropy sector in the U.S. With best-in-class investment options and low fees, Vanguard Charitable continues to enable donors to maximize their philanthropic impact.
As Vanguard Charitable moves forward, it remains dedicated to refining its approach to philanthropy, ensuring ongoing support for a wide range of causes and fostering a culture of giving that adapts to the evolving needs of society.
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