In the face of evolving health, environmental, and social challenges, help your favorite nonprofit build partnerships, develop new programs adapt to their communities’ needs overnight. Responsive and flexible financing is one of the tools that makes this possible. As such, Vanguard Charitable has launched a recoverable grant program that equips you with new options to better support the causes and communities you care about.


What is a recoverable grant?


Recoverable grants provide grantees with the immediate, flexible, and high-impact funding they need, when they need it. It’s different from a traditional grant in that the funds granted may be recovered (sometimes even beyond the initial granted capital) by the donor advised fund, which Premier donors can then use to recommend additional grants. 

Recoverable grants begin a granting cycle that you can continue by re-granting charitable dollars recovered from a prior recoverable grant.



Join the Movement

See how Vanguard Charitable donors are already using recoverable grants to support the causes they care about.


Bridge Gaps Bridge Funding Gaps


Donor Background:

A Vanguard Charitable donor wants to ensure that every dollar in their donor-advised fund is as impactful as possible, especially in light of Covid-19 and the increased urgency for philanthropic support around the globe.


The Challenge:

UNICEF USA receives millions of dollars in donations each year to support their global efforts to give every child an equitable chance in life. However, the timing gap between when a donor makes a commitment and when UNICEF receives the pledged cash can be a matter of life and death, delaying UNICEF’s ability to deliver medical supplies, clean water, educational materials, and more in times of crises.


The Solution:

A Vanguard Charitable donor recommended a recoverable grant to the UNICEF USA Bridge Fund to provide the up-front funding UNICEF needs to move quickly to prefinance COVID-19 vaccines, deliver clean water in the wake of hurricanes, distribute mosquito nets before malaria season, and more. The pledged cash that UNICEF ultimately receives from its donors provides the source of grant recovery for the Vanguard Charitable donor’s account.


What’s Next:

As UNICEF leads the procurement and delivery of two billion COVID-19 vaccine doses to countries in need around the globe, the recoverable grant funds help accelerate funding so that more people can access vaccines worldwide. In 2021, for example, the Bridge Fund helped Nigeria purchase cold chain storage equipment six months ahead of funding so that it could be prepared for vaccine delivery.


Banner of images




Grow Programs quickly Grow Programs Quickly



Donor Background:

A life-long advocate for public health, a Vanguard Charitable donor cares deeply about global access to health care and technology needed to eradicate diseases and promote long-term community health.


The Challenge:

With Peru facing high rates of the deadliest form of tuberculosis, Partners In Health, a leading global health nonprofit, sought to build a health center in Lima focused on the treatment and prevention of tuberculosis across Peru. They needed to fundraise quickly so they could kick off the four-year development of the center, which, if successful, has the potential to generate its own revenue and become financially self-sufficient.


The Solution:

The donor recommended a recoverable grant to Partners In Health to help fund the construction of the health center in Lima, Peru. Recoverable grants enabled Partners In Health to fundraise and start construction faster than they would have through a traditional capital campaign and, if the center reaches its goals, the donor’s donor-advised fund may recover funds for even more meaningful giving.


What’s Next:

Partners In Health met its full fundraising goal with the help of recoverable grants from the Vanguard Charitable donor and finalized the health center’s design in the same year. The outbreak of COVID-19 in Peru, however, paused construction and Partners In Health pivoted to support the Peruvian government’s efforts to respond to COVID-19. As construction resumes in 2021, the flexibility of recoverable grants makes it easier for Partners In Health to adjust its timeline for the health center in response to the pandemic.


Banner of images


Expand Charitable Goals Expand Charitable Goals



Donor Background:

A Vanguard Charitable donor is deeply focused on pioneering new models for nonprofits to grow their impact effectively and exponentially. Refugee support has been long overlooked by these types of innovative financing models.


The Challenge:

The more than 82.4 million people who are refugees worldwide will likely be so, on average, for over ten years.* Opportunities for displaced families and individuals to regain stability and build new livelihoods, however, are woefully limited. Kiva, a major microfinance nonprofit, sought to expand its charitable activities by launching its first fund that would provide loans to help displaced people secure new livelihoods.


The Solution:

A Vanguard Charitable donor recommended a recoverable grant to Kiva’s Refugee Investment Fund to pioneer lending to displaced people who otherwise wouldn’t be able to access loans they need to generate new livelihoods. The recoverable grant, which can be recovered by returns from the fund’s lending activities, helps Kiva grow its mission while proving out a new model of refugee support.


What’s Next:

Global humanitarian crises continue to displace people and families. Access to capital can be the missing piece that helps refugees establish a secure and fulfilling life in their new communities. The recoverable grant funds help Kiva pilot its new lending model, which, if successful, could prove refugees are worth investing in and unlock more traditional forms of capital.


*The term ‘refugees’ refers to both refugees and internally displaced people.


Banner of images

Vanguard Charitable has partnered with CapShift, a leading provider of impact investing and recoverable grant solutions, to develop a comprehensive menu of recoverable grant opportunities for our Premier donors. CapShift works with donors to put philanthropic capital to work for communities and the planet, and together, we have the opportunity to direct millions of recoverable grant dollars to work for nonprofit organizations around the globe. You can learn more about CapShift here.

Frequently asked questions about the Program

If you are a Premier donor with Vanguard Charitable, reach out to your Philanthropic Advisor ( to start the conversation about recoverable grants. If you're ready to start now, register for a free account on the CapShift platform today to explore these and other opportunities.

Recoverable grants are more complex than a typical grant. Depending on the specifics of the opportunity, a recoverable grant can take from one week up to several weeks to process.

Vanguard Charitable requires a $25,000 minimum grant size for recoverable grants.

Recoverable grants are meant to be flexible and are a charitable endeavor. Recoverable grants are only recovered under certain circumstances and grantees are not obligated to recover funds to the grantor.

In an episode of The Value in Giving podcast, Host Rebecca Moffett is joined by Liz Sessler, Chief Operating Officer at CapShift to discuss how you can maximize your charitable impact with creative giving vehicles, such as recoverable grants. Liz and Rebecca discuss how recoverable grants are strategic philanthropic tools donors can use for impact investing through their donor-advised funds. This episode details how recoverable grants are different from traditional grants, three ways donors use recoverable grants, and tips for philanthropists who are looking to make an impact through recoverable grants. Listen today!

Frequently asked questions about the Platform

Once you have worked with your Vanguard Charitable Philanthropic Advisor ( to secure a login, you can click here to go to the CapShift platform. To secure a login now, click here. You can also access the platform at any point through the top right-hand button on the CapShift website.

The account set-up link expires after 24 hours for security purposes. To request a new link, you can respond to the initial email you received or send a note to

Click the “Forgot Password?” button at the bottom of the login page. You can also send any questions to

Send an email to with your original email address and the new email address you would like to update it to, and the CapShift team will take it from there.

Interested in seeing what else is available?  


Register for a free account on the CapShift platform today to explore these and other opportunities. For any questions or to learn more about the program, reach out to your Relationship Manager.


Session timed out

For security reasons, you have been automatically logged out. To login, please click close and sign into your account.

Log out successful

This account is frozen. Contact us at
Request for user ID submitted

Your request was successfully submitted.Your user ID will be sent to the email address we have on file for you. Please contact us if you do not receive your user ID.
There are no open accounts associated with this User ID. Please contact us at
Online access to your account is currently disabled. Please contact us at to resolve this matter.

Log out successful

Login with your new User ID.

Log out successful

Login to access your account.
You do not currently have valid roles for any accounts. Please contact us at

A technical error has occurred

In order to maintain information security, your log-in request was canceled or your previous session ended.
Don't worry. You can log back in at any time.


Technical error. Please try again.

Log out successful

Login to update your phone number.

Technical error

You have reached a technical error and this session is not currently available.
Your email address was successfully verified.
Your account has been unblocked. Click login to access your account.

It’s not you. It’s us!

We are experiencing a technical error and we’re working on it. Please try again later.

You are unauthorized to access this page.


Maintenance fee may be applied

Accounts having a balance below $25,000 may be subject to an annual maintenance fee of $250.


You are eligible for special rates

Our premier clients enjoy reduced pricing to further maximize their impact.

Our representatives are happy to guide you through.

No, take me back


Click OK to cancel your enrollment.

Click Cancel to continue opening your account.