To our partners in philanthropy:  

This past year we celebrated a quarter of a century of our donors’ charitable giving. I’m proud of this incredible milestone, which we reached thanks to the continuous trust our donors put in us as a philanthropic partner. 


During this past year, we also hit another important milestone: over $18 billion dollars granted to nonprofits since the inception of Vanguard Charitable. Not only has this phenomenal output supported hundreds of thousands of nonprofits, but the increase in impact year over year also demonstrates the power of sustained giving over time. 


At Vanguard Charitable, all our work is done in service of being your preferred philanthropic partner among your giving options and supporting your long-term giving. We focus on improving your giving experience each year by delivering products, services, and expertise to amplify your impact today and tomorrow. 


2023 was no exception. In the past 12 months, we nearly doubled our investment lineup, keeping our signature low-cost options and enabling more money to get to charity. We also launched Grant Payments with Paypal, an industry innovation that gets grants to nonprofits faster than ever through electronic delivery. We released MyGiving, an immersive and personalized charitable giving planning experience available within your online account. And we published our seminal report, Why Giving Matters, which provides exclusive insights into donor giving and strategies for increasing your philanthropy. All this, while enabling granting at record levels. 


As we enter 2024, we renew our dedication to offering you the best-in-class donor-advised fund, bolstered by giving support and resources, high-quality investments, and industry-low costs. We’re committed to helping you achieve your charitable mission, and we’re excited to see what this next year has in store for our generous donors and the causes you hold dear.

Fellow Donors,


Since 1997, I’ve had the privilege of witnessing donors respond to a wide range of needs in a variety of global and economic environments. And each year, without fail, I’m moved by the outpouring of charitable giving by all of you. This year, in particular, was remarkable at Vanguard Charitable. 


In 2023, you granted more than $2.6 billion to charity, the largest amount ever granted in any one year by our donors—and an incredible 39% increase over the year before. In doing so, you made a profound impact across charitable sectors and institutions in this country and around the world. 


When I think of this past year—on top of the record in dollars granted—I also think about flexibility. After a year in which economic conditions were less favorable and charitable giving outside of Vanguard Charitable was down, our donors' giving surged, especially when responding quickly to several disasters throughout the year. Overall, you supported over 55,000 nonprofits. Because you chose to give with Vanguard Charitable, you benefit from this flexibility alongside a long-term strategy to maximize your giving—and that’s a big win for charities and the causes they serve. 


None of this would be possible without the hard work of the Vanguard Charitable team, dedicated to our mission of increasing philanthropy and maximizing its impact over time. Thank you to the team members who worked tirelessly to support our donors in this record year of charitable giving. 


I’ve been watching the tremendous growth in giving for over 25 years, but these record-breaking years never cease to amaze—and impress—me. To my fellow donors, thank you for your ongoing commitment to charitable giving. You made a difference this past year for so many people and causes, and I’m continually grateful that we’re working together to make the world a better place.

Rebecca Moffett


Rebecca Moffett

Jack Brennan


John J. Brennan

A year of breakthroughs for better giving

For over a quarter of a century, our donors have consistently demonstrated the importance they place on giving back to those in need. Their dedication to generosity inspires our work in evolving the Vanguard Charitable giving experience. 


This year, Vanguard Charitable had four major breakthroughs: Grant Payments with PayPal, MyGiving, an expansion of our investment lineup, and publication of the first Why Giving Matters report. Donors have used each tool to develop their philanthropy in 2023 and reach new records of granting. We look forward to seeing how these breakthroughs in philanthropy will continue to support giving in 2024 and beyond.

A quick look at what our donors accomplished in 20231:

Total grant dollars given


Unique organizations supported


Average grant size


Total grant units given


Getting grant funds where they're needed most—and faster than ever

The faster we can get a grant into a charity’s hands, the faster those in need receive critical resources. That’s why we partnered with PayPal to create a new granting tool. Grant Payments mean that any nonprofit signed up with PayPal can receive a Vanguard Charitable grant in minutes. 


Here’s how our donors accelerated their support for charities by using Grant Payments with PayPal:

Dollars granted via Grant Payments


Nonprofits that received a grant via Grant Payments


Grants sent via Grant Payments


Vanguard Charitable Plant Trees

New capabilities, enduring motivations

Why do we give? And how do we give to have the greatest impact?   

Click play to hear the motivations of longtime Vanguard Charitable donors

What our donors care about most

Hands and heart representing charities Top 10 nonprofits our Vanguard Charitable donors supported in 2023, by number of grants issued:


1. Doctors Without Borders, USA6. Samaritan's Purse
2. Planned Parenthood Federation of America7. Cru (Campus Crusade For Christ)  
3. World Central Kitchen8. The Church of Jesus Christ of Latter Day Saints
4. St. Jude Children's Research Hospital9. UNICEF USA
5. International Rescue Committee (IRC)10. American Civil Liberties Union Foundation

Top cause areas


In 2023, Vanguard Charitable donors directed their granting to the following cause areas:

  • Human Services

    60K grants

  • Religion

    45K grants

  • Education

    32K grants

  • Health

    26K grants

  • Environment & Wildlife

    17K grants



A mosaic of generosity: America's top charitable cause in each state

Showing the cause area of the in-state charity that received the most Vanguard Charitable donor-recommended grants in 2023. Two charities tied for receiving the most grants in North Dakota and South Carolina. 

Get funds to charities more quickly with Grant Payments

Paper checks are subject to delays. Vanguard Charitable donors can now issue funds electronically to qualifying nonprofits via Grant Payments with PayPal, helping charities access DAF grants more quickly.

MyGiving: A new planning suite

Vanguard Charitable recently launched its groundbreaking new guidance tool, MyGiving. It guides you step-by-step so you can craft your mission statement, discover your giving style, and set and monitor your philanthropic goals—all in your secure online account.

More investment options for your contributions

In 2023, we nearly doubled our investment lineup. The 16 recently added investments offer greater portfolio customization capabilities to suit your investment style and charitable goals.

More insights with Why Giving Matters

The results are in: Vanguard Charitable donors give more to charity over time. Discover more insights on effective giving and how to maximize the impact of your donor-advised fund from our exclusive report, Why Giving Matters.

Meet our Board of Trustees

Tasked with governing our overall strategy and effectiveness, our Board of Trustees oversees policies and promotes integrity and accountability throughout the organization.

John J. Brennan

Vanguard, chairman emeritus and senior advisor

John J. Brennan

  • Vanguard, chairman emeritus and senior advisor
  • American Express, board member
  • Rockefeller Capital Management, board member
  • University of Notre Dame, chairman of the board

Dr. Renee Bellamy Booth

Leadership Solutions Inc., President

Dr. Renee Bellamy Booth

  • Leadership Solutions Inc., President
  • Thomas Skelton Harrison Foundation, trustee
  • Franklin Institute, trustee

Pamela Dippel Choney

Wellington Management Company, LLP, retired partner and senior vice president

Pamela Dippel Choney

  • Wellington Management Company, LLP, retired partner and senior vice president
  • Wellesley (MA) Scholarship Foundation, advisory board member
  • Social Finance US, director

Larry Dubinski

The Franklin Institute, president and CEO

Larry Dubinski

  • The Franklin Institute, president and CEO
  • The Chamber of Commerce for Greater Philadelphia, board member
  • Satell Institute, vice chair
  • Deutsches Museum, board member
  • American Alliance of Museums, board member

Michael F. Holland

Holland & Company, LLC investment firm, chairman

Michael F. Holland

  • Holland & Company, LLC investment firm, chairman
  • State Street Master Funds, co-chairman
  • The China Fund, Inc., director
  • The Taiwan Fund, Inc., director
  • The Winston Churchill Foundation of the United States, trustee emeritus

Michael S. Miller

The Vanguard Group, retired Managing Director

Michael S. Miller

  • The Vanguard Group, retired Managing Director
  • UVA Health Foundation, Board Chair
  • University of Virginia Law School Foundation, trustee
  • Hamilton Beach, director

Meet our leadership

Fueled by the mission of increasing philanthropy in the U.S., our leadership team is dedicated to helping you make a charitable impact through strategic and thoughtful philanthropy. Learn more about our leadership team:

Rebecca Moffett


Rebecca Moffett

Rebecca is the president of Vanguard Charitable, a national donor-advised fund provider and one of the nation's top grantmakers. As a long-time donor-advised fund leader and advocate, Rebecca focuses on furthering the benefits of giving for donors, nonprofit partners, and communities around the globe. She has earned her bachelor’s degree and MBA from Saint Joseph’s University.

Carol Dow

Chief Information Officer

Carol Dow

With decades of IT leadership, Carol oversees the technology strategy and portfolio for Vanguard Charitable. Prior to joining Vanguard Charitable, Carol served as a Vanguard principal in Global Investment Financial Systems and served as Vanguard’s Chief Technology Officer.

Ann Gill

Chief Philanthropic Officer

Ann Gill

Ann joined Vanguard Charitable in September 2013 following a multi-decade career in banking with Wells Fargo and its predecessor banks. Ann's experience is in leading various sales, service, and credit teams focused on the financial institutions, healthcare, and most recently higher education and nonprofit banking sectors.

Mark Froehlich

Chief Financial Officer

Mark Froehlich

Prior to Vanguard Charitable, Mark was the CFO of The Philadelphia Foundation. Mark is a CPA and holds an MBA from Temple University's Fox School of Business. Mark’s strong connection with the not-for-profit sector stems from his training as a classical violinist and his affinity for Philadelphia's arts organizations.

Jodi Rosen

Chief Development Officer

Jodi Rosen

Jodi brings over 20 years of experience in the nonprofit sector and the donor-advised fund industry, serving as an advocate for both philanthropists and the nonprofit community. She plays a key role managing business and strategic product development. Jodi is a graduate of the University of Pittsburgh and a Chartered Advisor in Philanthropy (CAP®).

Elaine Kenig

Chief Communications Officer

Elaine Kenig

In her role leading communications, analytics, and strategic planning, Elaine focuses on building awareness of the benefits of strategic philanthropy and improving donors' giving experiences. Elaine earned her bachelor's degree from Lehigh University and master’s in public administration from the University of Pennsylvania. She holds a Chartered Advisor in Philanthropy (CAP®) designation.

D. Deone Powell

General Counsel and Chief Legal Officer

D. Deone Powell

Deone serves as inaugural general counsel and chief legal officer, bringing his law expertise to further Vanguard Charitable’s mission and increase donor impact. Deone previously built and led the legal department at Philadelphia FIGHT, a nonprofit community health system focused on culturally competent care. He is a UNC-Chapel Hill and Temple Law alumnus.

1 All calendar year numbers reported as of December 31, 2023, unless otherwise stated.

Financial Statements

Review our financial statements as audited and approved by an independent third party for the most recent fiscal year.


Financial Statements


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