Activist Coalition Goes After Charitable Fund Organization

A new group is going after a charitable fund organization, or at the very least, trying to potentially expose certain donors, complicating the privacy issues concerning charitable giving. 

“Unmasking Fidelity” is a coalition of activists that have joined together to apply pressure to another organization called “Fidelity Charitable” (FC). Fidelity Charitable is a 501(c)(3) organization associated with Fidelity the investment firm, and it streamlines charitable giving, primarily for investors who use the Fidelity Investments platform.

Investors are able to set up a charitable giving account and manage it in conjunction with their other investments. Fidelity Charitable is the top grant maker in the country and gave out $9.1 billion to charities in 2020.

Activist coalition “Unmasking Fidelity” has issued a list of demands. Among other items, they’ve asked FC to publicly disclose all contributions, and fees related to those contributions, over the last five years, relating to ten specific organizations. Exposing those contributions would potentially expose the donation activity of private individuals.