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Vanguard Charitable Achieves Unprecedented Granting Success in 2024

In a remarkable demonstration of generosity, Vanguard Charitable has announced that its donors contributed an astounding $3.1 billion to over 62,000 nonprofit organizations in 2024. This achievement marks the eighth consecutive year the nonprofit has experienced record-breaking grants. Compared to 2019, prior to the pandemic, the amount granted has increased by 130%, reflecting a significant resurgence in philanthropic efforts since the COVID-19 pandemic disrupted normal giving patterns.

A Historic Year for Giving

The impressive figures indicate that grants in 2024 witnessed a 20% growth from the previous year, symbolizing a revitalized commitment to philanthropy and charity. Vanguard Charitable’s president, Rebecca Moffett, highlighted how advancements in technology and operational efficiencies have enabled the charity to respond more swiftly and effectively to the growing needs of nonprofits. Moffett stated, “These granting numbers are an incredible testament to our ability to deliver innovative and timely resources for our donors.” This commitment to improving donor experience and enhancing the granting process illustrates Vanguard Charitable's mission to inspire more people to give.

Swift Delivery of Funds

Among its many innovations, Vanguard Charitable has streamlined the process for granting funds, making contributions reach nonprofits 20% faster than they did in 2019. This improvement is largely attributed to enhanced electronic granting systems such as Grant Payments with PayPal, which allows charities to receive funds more promptly, alleviating the traditional delays associated with paper check donations. One beneficiary of this expedited service is LEAD with Horses, an organization in Reno, Nevada. Jeane Spada-Allgood, the executive director, noted, “The grant from Vanguard Charitable was game changing! These funds allowed LEAD with Horses to move forward with a major initiative to establish a new equine assisted services facility.” The rapid disbursement of funds has been critical for many nonprofits, allowing them to address pressing needs without delay.

Expanding Reach and Impact

Donor engagement has also transformed over the past five years. In 2024, Vanguard Charitable donors supported 40% more unique charities compared to 2019, which is indicative of diverse philanthropic interests among donors. The five most frequently supported organizations included Doctors Without Borders USA, World Central Kitchen, Samaritan's Purse, Planned Parenthood Federation of America, and St. Jude Children's Research Hospital. This trend reflects a growing awareness of and commitment to various social causes and the importance of supporting a wide range of nonprofit endeavors.

Cost Efficiency in Philanthropy

Another noteworthy observation is the reduction in costs associated with charitable giving. The average all-in fee for donors at Vanguard Charitable stands at just 0.44%, down from 0.49% five years ago. This cost reduction has translated into approximately $10 million more available for grants, allowing donors' contributions to make an even bigger impact. Mark Froelich, Vanguard Charitable's CFO, remarked, “Donors are looking to give with partners that help make their charitable dollars go further to better support causes aligned to their personal missions or legacy.” This focus on efficiency ensures that more resources are directed toward charitable efforts rather than administrative costs.

The Future of Charitable Giving

As Vanguard Charitable looks to the future, the implications of these advancements in granting procedures, cost reductions, and a growing variety of supported causes are clear. The nonprofit's initiative to encourage sustained donor engagement ensures that charitable giving remains accessible, efficient, and impactful. The advantages of donor-advised funds (DAFs) become increasingly evident as a flexible tool for philanthropy, allowing donors to not only contribute throughout the year but also to align their giving with personal values and causes they are passionate about.

To learn more about Vanguard Charitable's contributions and the generous spirit of its donors, visit their Annual Report for a comprehensive glimpse into the organization's impact on communities across the country. By facilitating efficient charitable giving, Vanguard Charitable continues to play a pivotal role in shaping the landscape of philanthropy, demonstrating that even in a changing world, the spirit of giving thrives.