Fidelity Foundation

Quick Stats

• Annual Giving: $147 million (2023)
• Total Assets: $3.82 billion (2023)
• Success Rate: Low (unsolicited LOIs not frequently funded)
• Decision Time: 4-6 weeks for LOI; 3-6 months for full proposal
• Grant Range: $100,000+ (minimum project budget)
• Typical Grant Range: $25,000 - $307,000
• Geographic Focus: 12 metropolitan areas in US and Canada near Fidelity offices

Contact Details

• Website: https://www.fidelityfoundation.org/
• Email: info@fidelityfoundation.org
• Phone: (617) 646-7418
• Address: 7 Water Street, Boston, MA 02109

Overview

The Fidelity Foundation is a private, nonoperating foundation established in 1965 by Edward C. Johnson 3d (former Chairman of Fidelity Investments) and his father, the founder of the company. Since inception, the Foundation has distributed more than $500 million to qualified nonprofit organisations across the United States and Canada. The Foundation takes a distinctive investment approach to philanthropy, treating grant applications with the same rigour applied to financial investments—carefully examining each organisation's project idea, management team, and financial situation before committing resources.

As a capacity-building funder, the Foundation seeks to make catalytic, impactful, and lasting investments in nonprofits at strategic inflection points. Many projects involve planning, infrastructure (capital and technology), training, and other improvements to increase organisational effectiveness. Notably, the Foundation practices "quiet giving" and most grants are awarded anonymously. With total assets of $3.82 billion and annual giving of approximately $147 million, Fidelity Foundation is a significant funder in the capacity-building space.

Funding Priorities

Grant Programs

The Foundation supports three primary types of capacity-building projects:

• Capital Investments: Large-scale projects central to the overall health and sustainability of the organisation, such as new construction, renovations, expansions, and other initiatives supporting strategic vision. Typical grants: $25,000 - $307,000+
• Planning Initiatives: Funding for project consultants to develop strategic, business, feasibility, technology, and other types of plans
• High-Impact Technology Projects: Initiatives that can substantially increase an organisation's efficiency, effectiveness, and sustainability

Application Method: Rolling basis for Letters of Inquiry; full proposals by invitation only

Priority Areas

The Foundation concentrates on five sectors:

• Arts & Culture
• Conservation
• Education
• Health
• Social & Economic Mobility

Projects of particular interest include:

• Creative and innovative means of advancing an organisation or nonprofit sector
• Initiatives with potential to inform or influence the broader nonprofit sector
• Projects from organisations of regional or national importance

What They Don't Fund

• Operating support
• Sponsorships, galas, or benefits
• Scholarships
• Corporate memberships
• Video and film projects
• Start-up organisations
• Sectarian organisations
• Civic organisations
• Public school systems
• Disease-specific associations
• Individuals
• Emergency or immediate funding needs
• Multi-year successive grants (generally)
• Lead or majority funding for capital campaigns

Governance and Leadership

Board of Trustees

• Abigail P. Johnson
• Edward C. Johnson IV
• Elizabeth L. Johnson
• Elizabeth B. Johnson (Trustee Emerita)
• Ross Sherbrooke

Senior Leadership

• Maura Marx, President (compensation: $449,104)
• Christine Kang, Chief of Staff
• Barbara Sullivan, Vice President of Insights & Impact
• Lydia Bergen, Vice President of People & Workplace
• Kevin Saunders, Vice President of Legal
• Dan Ardito, Vice President of Finance and Treasurer
• Jennifer Burran, Director of Grants Operations (compensation: $244,131)

Leadership Philosophy

The Foundation views its philanthropy as a partnership. As leadership has stated: "When we invest in an organisation, we consider it a partnership...if we can help that organisation become more self-sufficient, we've achieved something."

Application Process & Timeline

How to Apply

1. Eligibility Quiz: Complete the online eligibility quiz on the Foundation website
2. Letter of Inquiry (LOI): If eligible, submit an LOI through the online portal
3. Invitation to Propose: If the LOI is successful, the Foundation will contact you to submit a full proposal
4. Proposal Review: Staff conducts comprehensive evaluation including potential site visits
5. Trustee Approval: Final funding decisions are made by the Trustees

Important: The Foundation explicitly states that it "does not frequently fund unsolicited LOIs"—this is a selective funder with competitive acceptance rates.

Decision Timeline

• Letter of Inquiry: Response within 60 days (typically 4-6 weeks)
• Full Proposal Review: 3-6 months
• Notification: Programme staff will contact applicants regarding decisions; recommendations are reviewed with Trustees

Eligibility Requirements

Organisations must meet ALL of the following criteria:

• Current IRS 501(c)(3) public charity status
• Operating budgets of $1,000,000 or more
• Proposed projects budgeted at $100,000 or more
• Located in one of the 12 eligible metropolitan areas (or be of national importance)

Geographic Restrictions

Grants are restricted to organisations in twelve metropolitan areas where Fidelity has offices:

• Albuquerque, NM
• Boston, MA
• Cincinnati, OH / Covington, KY
• Dallas/Fort Worth, TX
• Denver, CO
• Jacksonville, FL
• Merrimack, NH
• New York, NY / New Jersey
• Raleigh/Durham, NC
• Smithfield, RI
• Salt Lake City, UT
• Toronto, ON (Canada)

National organisations with high-impact projects may also be considered.

Success Rates

While specific percentages are not published, the Foundation explicitly notes that:

• Unsolicited LOIs are "not frequently funded"
• The process is highly competitive
• Submission does not guarantee funding

Reapplication Policy

The Foundation generally does not make successive-year or multiple-year grants, as their funding programme is intended to strengthen nonprofit organisations toward self-sufficiency.

Application Success Factors

What the Foundation Evaluates

Organisational Assessment:

• Financial history, including evidence of ability to achieve and maintain operating surpluses
• Strength of balance sheet with adequate current and net assets
• Senior management team and Board Member tenure
• Professional affiliations demonstrating leadership strength and continuity
• Strategic direction reflected in current plans with accompanying business plan and operating budget

Project Assessment:

• Institutional commitment to the project by the Board
• Realistic budget with detailed implementation strategy
• Performance measurement plans
• Operating projections for post-implementation phases

The Foundation's Investment Lens

The Foundation applies an investor mentality, asking: "Will it work? What will it achieve? What is the return on investment?"

Capital Campaign Requirements

The Foundation serves as a resource for capital campaigns that have already demonstrated significant constituent and community support by attracting at least half of the goal. They do not generally serve as lead or majority donor to capital campaigns.

Challenge Grant Strategy

The Foundation often provides challenge grants that encourage nonprofits to seek and secure other funding partners. They view an organisation's ability to attract a broad range of support as a key sign of its strength and sustainability.

Recent Grantees

Examples of organisations that have received funding include:

• Longwood Gardens
• Rogerson Communities
• Strawbery Banke Museum
• Center for Women and Enterprise
• Commonwealth Club of California
• Boys and Girls Clubs
• Various health and cultural institutions

Key Takeaways for Grant Writers

1. Meet minimum thresholds: Your organisation must have a $1M+ operating budget and propose a project of $100,000+ to be considered. Small and grassroots organisations should look elsewhere.

2. Understand the investment approach: The Foundation evaluates applications like investments—demonstrate strong financial management, stable leadership, and clear ROI potential.

3. Geographic eligibility is strict: Unless you're a nationally significant organisation, you must be located in one of the 12 eligible metropolitan areas near Fidelity offices.

4. Think big but be strategic: The Foundation likes to fund significant, transformative projects. Don't be afraid to think big, but ensure the project is genuinely strategic for your organisation.

5. Capital campaigns need momentum: If seeking capital campaign funding, you should already have secured at least 50% of your goal before approaching the Foundation.

6. Plan for timeline: Factor in 4-6 months minimum from LOI submission to potential funding decision—this is not emergency funding.

7. Expect anonymity: Most grants are awarded anonymously as part of the Foundation's "quiet giving" philosophy—don't expect high-profile recognition.

8. One project per organisation: If you have multiple needs, prioritise and submit only the project that best aligns with the Foundation's requirements.

References

• Fidelity Foundation Official Website: https://www.fidelityfoundation.org/
• Fidelity Foundation About Us: https://www.fidelityfoundation.org/about-us/
• Fidelity Foundation Grant Writing Guidelines: https://www.fidelityfoundation.org/grantmaking-guidelines/
• Fidelity Foundation Letter of Inquiry: https://www.fidelityfoundation.org/applying-and-reporting/letter-of-inquiry/
• Fidelity Foundation Application Review: https://www.fidelityfoundation.org/applying-and-reporting/application-review/
• Inside Philanthropy - Fidelity Foundation: https://www.insidephilanthropy.com/find-a-grant/grants-f/fidelity-foundation
• ProPublica Nonprofit Explorer - Fidelity Foundation: https://projects.propublica.org/nonprofits/organizations/46131201
• Instrumentl 990 Report - Fidelity Foundation: https://www.instrumentl.com/990-report/fidelity-foundation
• Cause IQ - Fidelity Foundation: https://www.causeiq.com/organizations/fidelity-foundation,046131201/

Accessed December 2025