Fidelity is creating a new way to donate to charity
Share to linkedinUnited Way and Salesforce have teamed up to offer employers and their charitably-minded workers the Philanthropy Cloud. Fintech powerhousehosts Goodness platforms. Now the mutual fund giant Fidelity Investments wants in, with the launch of its version of workplace giving, via the Giving Marketplace.
“At Fidelity, we don’t just talk about retirement anymore. We talk about total financial wellness. Giving is part of that,” says Tom Ryan, a leader in Fidelity’s emerging businesses. Employees say they want to work for companies that value philanthropy. Employers are looking for ways to help employees give back. The pitch to employers: “Giving is part of your employees’ DNA.”
At Fidelity Charitable, you need $5,000 to set up a donor-advised fund, and when you recommend grants out to charities, the distribution minimum is $50. By contrast, at Fidelity’s workplace offering, you can make gifts starting at $25. There’s no separate account. Employees log in and choose a charity to donate to, directing payments via credit card, bank draft or payroll .
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