Fidelity Charitable grows West Coast support network for donors, advisors

BOSTON, May 12, 2015 - Fidelity Charitable, an independent public charity with a donor-advised fund program, is expanding support for its West Coast donors and the advisors who work with them. Today, the organization announced three appointments to new roles and also announced that it had surpassed $1 billion in grants to charities for the year. The new appointments are:

• Amy Grossman, based in San Francisco, Calif., joined Fidelity Charitable as West Coast vice president for the complex asset group. In this role, Amy will help to facilitate donations of non-publicly traded assets such as private business interests, private equity interests and real estate.
• Jonathan Batista, based in Newport Beach, Calif., was promoted to vice president and charitable planning consultant, dedicated to providing expert guidance to financial advisors, attorneys and accountants in the Southwest.
• Elaine Martyn, as vice president of the private donor group, will lead a group of relationship managers who assist major donors nationwide in developing strategies to achieve their philanthropic goals.

“Amy, Jonathan and Elaine bring valuable skills and expertise that our donors and their trusted advisors can tap to achieve the greatest charitable impact,” said Amy Danforth, president of Fidelity Charitable. “Their roles add depth to our diverse capabilities, such as our in-house complex asset group and nationwide advisor support network, as well as our grant-making expertise, which all support our mission to make charitable giving simple and effective.”

Grossman Applies Corporate Transactions Experience to Complex Donations

Grossman joins Fidelity Charitable after 15 years with Credit Suisse, where she most recently served as a managing director in the Private Banking USA group. In an earlier role as head of the corporate and executive services group, she advised more than 200 companies on more than 1,000 trading plans.

A former practicing corporate and securities attorney, she also brings legal expertise in corporate transactions to Fidelity Charitable as donors increasingly recognize the benefits of funding philanthropy with private business and private equity interests. Entrepreneurs, investors and company executives often find that donating their non-publicly traded assets can confer tax efficiencies that enable them to give over 20 percent more to support charitable causes. It can be costly and difficult, however, for many charities to accept these assets. In contrast, when donated into a donor-advised fund, these assets are liquidated and the cash proceeds can be used to support any number of charities.

In the last two years, Fidelity Charitable has made more than $1 billion available for grant-making from complex assets it received as donations.

Batista Supports Advisors in Southwest

Batista expands Fidelity Charitable’s nationwide network of charitable planning experts who provide guidance on giving strategies and execution support to advisors who integrate charitable planning into their practices. He will serve as a local expert for advisors in southern California, Arizona, Nevada, and New Mexico. Batista joins ten other charitable planning consultants based around the country, including Steve Brooks, a San Francisco-based vice president who supports advisors in northern California and the Northwest.

When advisors have charitable conversations with clients, they bring philanthropy into the client’s overall financial plan and offer giving strategies that can enable donors to give more. By doing so, advisors also strengthen and grow their practice by deepening client relationships, connecting with the next generation, and positioning themselves more broadly as a financial expert.¹

Martyn Leverages Nonprofit Experience to Support Major Donors

Martyn joins Fidelity Charitable with 15 years of nonprofit experience centered on building programs around family philanthropy, impact investing, international grant making and values-based giving. Most recently, she was the vice president of development for the Global Fund for Women in San Francisco, Calif.

Leveraging her experience working with donors and their families, Martyn and her team will assist Fidelity Charitable’s major donors in defining strategies to help them achieve their charitable objectives. Martyn recently relocated to Fidelity Charitable’s office in Cary, N.C., but will continue to be a regular presence for Fidelity Charitable in the Bay Area.

New Grant Record Reflects Donors’ Passion, Commitment

As of May 7, Fidelity Charitable had made more than 223,000 donor-recommended grants totaling $1 billion in 2015. The $1 billion grant milestone was reached nearly six weeks earlier than in any previous year―the previous record being set June 17 of last year.

"Our donors’ passion for a wide range of causes ― we have supported more than 55,000 charities just this year ― and commitment to giving year-round have propelled our granting to new heights," said Danforth.

Donors used their charitable accounts to support planned giving, while also responding to urgent needs. In the two weeks following the earthquake in Nepal, Fidelity Charitable made more than 4,200 donor-recommended grants totaling $5 million designated to the relief efforts and posted guidance on giving to the cause as part of its ongoing disaster philanthropy initiative.

¹Fidelity Charitable 2012 Advice & Giving Study