2020–21 Financial Summary

FIDELITY CHARITABLE

2020-21 Financial Summary

A message from the Chair
and the President
Amid another year of turmoil, our mission to grow the American tradition of philanthropy by providing programs thatmake charitable giving accessible, simple and effective shines through as more important than ever. As communities
recover from the pandemic, donor-advised funds have continued to act as a ready reserve of charitable funding tohelp with many aspects of the recovery.
The results: While the 2020–21 fiscal year was marked by the continued uncertainty and strain of the pandemic,
it was also marked by tremendous generosity, with $10 billion granted. Just as our donors remained resolute in theircommitment to help charities and the communities they serve, we continued our commitment to advance effective
philanthropic giving.
•Our freely available giving guidance on pandemic aid, as well as natural disasters, such as hurricanes or
earthquakes, was viewed more than 300,000 times since the start of the pandemic, helping individuals makegiving decisions at times of crisis.

•Nearly 95 percent of grants were made digitally last year, the highest percentage ever, thanks to ongoingenhancements to our digital experience to make giving streamlined and easy for donors.

•An initiative focused on getting grants to nonprofits even more quickly yielded an 89% increase in the numberof nonprofits receiving grant funds electronically, allowing them to put these dollars to immediate use.

•Anyone can be a philanthropist at Fidelity Charitable®. There is no longer any minimum required to open acharitable account.

We are grateful for the trust our donors have put in us to steward their charitable assets and are heartened by theircommitment to charitable giving.

Jacob Pruitt
President
Fidelity Charitable

Alfred E. Osborne, Jr.
Chair, Board of Trustees
Fidelity Charitable

The 2020–21 Fidelity Charitable® financial summary shows the statements of financial position and statements of activity for the fiscal year ending June 30, 2021.

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FIDELITY CHARITABLE

2020-21 Financial Summary

What is a donor-advised fund?

About Fidelity Charitable

A donor-advised fund is a charitable accountsponsored by a public charity that donors use tosupport their charitable giving. A donor-advised fund,called a Giving Account® at Fidelity Charitable, makes
it easier for donors to plan their giving and be morestrategic, maximizing their generosity. Donors cancontribute many types of assets, advise how thoseassets are invested for tax-free growth and provide
even more support to charities over time.

Fidelity Charitable is an independent public charity
with the nation’s largest donor-advised fund program,with more than 250,000 people using a Fidelity
Charitable Giving Account to support their giving. We
are also the nation’s largest grantmaker, driving morethan $51 billion in grants since inception.

The Fidelity Charitable Trustees’ Initiative is a direct grantmaking program, separate from the Fidelity
Charitable donor-advised fund program, whose mission is to expand giving and advance the nonprofit
and philanthropic sectors. The 2021 Impact Report gives a detailed look at the Trustees’ Initiative
grantmaking strategy and grant recipients in FY 2021.
For detailed information about where and how Fidelity Charitable donors give, and the work we do tosupport smarter giving, see our 2021 Giving Report.

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FIDELITY CHARITABLE

2020-21 Financial Summary

Statements of Financial Position
As of June 30, 2021
Assets2021

2020

Cash and cash equivalents$1,780,202,271$1,866,023,758

Investments, at fair value(cost $38,303,264,914 and $30,104,469,331, respectively)

46,646,723,150

32,527,747,872

Contributed assets held, at fair value(cost $1,114,026,637 and $866,669,777, respectively)

1,104,994,937

811,857,924

84,81887,166

Receivable for investments sold

61,703,819

47,298,635

Dividends and interest receivable

2,718,333

3,341,358

Receivable for contributed assets sold

50,694,948

28,998,517

Receivable for tier price credit

18,718,114

12,467,472

Fidelity Investments Charitable Gift Fund’s Pooled Income Fund

72,192,201

71,186,111$49,738,032,591$35,369,008,813

Foreign currencies held (cost $85,339 and $87,554, respectively)

Total assets

The complete audited financial statements of Fidelity Charitable for the years ended June 30, 2021 and 2020 can be found at fidelitycharitable.org/about-us.

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FIDELITY CHARITABLE

2020-21 Financial Summary

Statements of Financial Position,continued
As of June 30, 2021
Liabilities and Net Assets

2021

2020

Accrued expenses$40,473,516$28,864,538

Distributions payable

40,394,883

29,014,433

Payable for investments purchased

58,151,110

46,569,079

66,07741,312

Discount for future interest in Fidelity Investments
Charitable Gift Fund’s Pooled Income Fund

24,964,208

25,022,981

Other payables

10,655,609

8,479,468

Total liabilities$174,705,403$137,991,811

Obligations to deliver securities

Net Assets

2021

2020

$49,516,099,195$35,184,853,872

47,227,993

46,163,130Total net assets

49,563,327,188

35,231,017,002

Total liabilities and net assets$49,738,032,591$35,369,008,813

Without donor restrictions
With donor restrictions

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FIDELITY CHARITABLE

2020-21 Financial Summary

Statements of Activity
Year ended

Year ended

June 30, 2021

June 30, 2020

$15,298,500,542$10,716,447,620

592,834,829

663,358,374

Total revenues

15,891,335,371

11,379,805,994

Grants to charitable organizations(10,033,392,254)(7,316,804,318)

Administrative fees

(100,505,084)(76,657,961)

Investment management fees

(40,307,140)(31,835,831)

Professional fees

(5,782,489)(10,214,324)

Other expenses(13,324,307)(6,215,820)(10,193,311,274)(7,441,728,254)

Excess of revenues over grants and expenses

5,698,024,097

3,938,077,740

Net realized gain (loss) on investments

2,653,421,051

762,187,149(13,593)(2,088)

Net realized gain (loss) on in-kind distributions

13,854,053

110,853,445

Increase (decrease) in remainder interest of Fidelity Investments
Charitable Gift Fund’s Pooled Income Fund

1,064,863(3,304,371)

Net change in unrealized appreciation (depreciation) on investments

5,965,959,848(553,524,795)

Net change in unrealized appreciation (depreciation) on other assets
and liabilities in foreign currencies

(133)

(486)

Change in net assets

14,332,310,186

4,254,286,594

Net assets, beginning of year

35,231,017,002

30,976,730,408

Net assets, end of year

$49,563,327,188$35,231,017,002

Donor contributions
Investment and other income

Total grants and expenses

Net realized gain (loss) on foreign currency transactions

6FIDELITY CHARITABLE

2020-21 Financial Summary

Fidelity Charitable Board of Trustees

Alfred E. Osborne Jr.,
PhD

Nancy Altobello

Catherine D’Amato

Jennifer Toolin
McAuliffe

Lenny Mendonca

John Muse

Rosie Rios

Thomas C. Stewart

Rudman J. Ham
Trustee Emeritus

As of June 30, 2021

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FIDELITY CHARITABLE

2020-21 Financial Summary

Officers of Fidelity Charitable

Pam Norley
President*

David Scoglio
Treasurer

Stefan Podvojsky
Senior Vice President,
Investments and Programs

Jacob Clauson
Secretary

Richelle Tucker
Assistant Secretary

As of June 30, 2021
*Pam Norley was President of Fidelity Charitable during fiscal year 2020–21. Jacob Pruitt became President on October 18, 2021.

8To learn more about the Fidelity Charitable Giving Account,visit our website at FidelityCharitable.org or call us at 1-800-262-6039

Fidelity Charitable is the brand name for the Fidelity Investments® Charitable Gift Fund, an independent public charity with a donor-advised fund program. Various
Fidelity companies provide services to Fidelity Charitable. The Fidelity Charitable name and logo and Fidelity are registered service marks of FMR LLC, used by Fidelity
Charitable under license. Giving Account® is a registered service mark of the Trustees of Fidelity Charitable.
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