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Since our inception in 1997, Vanguard Charitable has emerged as a leader in the philanthropic industry, providing a low-cost, high quality giving tool and empowering our donors with the resources to make strategic giving decisions. While most of the grants that Vanguard Charitable makes annually are advised by our donors, there are a small number of grants, issued from The Philanthropic Impact Fund, that are the responsibility of our board of trustees. Below is information on the funding sources for The Philanthropic Impact Fund, as well as the types of grants that are issued annually from this fund.
Funding for The Philanthropic Impact Fund comes from three sources: direct donations to the fund, donors' choice to name the fund for their succession plan, and abandoned accounts (or accounts that are not meeting the minimum granting activity required) when no charity has been selected in a succession plan.
Vanguard Charitable has revised its policy for The Philanthropic Impact Fund to ensure that even more dollars are reaching the philanthropic community in as efficient and effective a manner as possible. Our guidelines stipulate that annual payout from The Philanthropic Impact Fund will equal 5% of the average of the previous three fiscal-year-ending fund balances.1
Since its inception, The Philanthropic Impact Fund has distributed hundreds of thousands to charities across all interest areas and missions. Between fiscal years 2017 and 2018, a total of more than $444,000 was issued, with the majority of grant dollars distributed through mission granting.2
The most significant and largest portion of The Philanthropic Impact Fund’s annual distribution supports organizations that honor Vanguard Charitable’s mission to increase the amount and impact of charitable giving. These grants are given to organizations whose research and/or programs strive to accomplish the following:
In recent years, grants have been issued to organizations such as The Lilly Family School of Philanthropy at Indiana University, the only school of its kind in the U.S.; DataKind, a company dedicated to providing nonprofits with valuable data and analytics; GuideStar, the largest database of information on the nonprofit sector; The Center for High Impact Philanthropy, a trusted authority for funders around the world who are seeking to maximize the social impact of their philanthropic activities; and Fast Forward, the first and only organization focused exclusively on scaling other organizations that combine technology with sustainable nonprofit business models.
Vanguard Charitable donors can elect to transfer the balance of their accounts to The Philanthropic Impact Fund as part of their succession plans. These plans take effect when account advisors are deceased, unwilling, or unable to manage account processes. The Philanthropic Impact Fund is one of many ways in which donors can continue a giving legacy beyond their lifetime.
1The Philanthropic Impact Fund is managed by Vanguard Charitable’s board of trustees who approve all grants and reserve the right to determine grant recipients.
2Other distribution channels include community-based granting, benefitting local nonprofits with which Vanguard Charitable often partners, and champion granting, providing the opportunity to make grant recommendations to individuals or groups who contribute time and talent to help Vanguard Charitable achieve its mission.