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Fidelity Foundation

Annual Giving
$147.0M
Grant Range
From $100K
Decision Time
4mo

Fidelity Foundation

Quick Stats

  • Annual Giving: $146,970,213 (2023)
  • Total Giving Since Inception: Over $500 million
  • Number of Grants: 2,416 awards (2023)
  • Decision Time: 4-6 weeks for LOI; 3-6 months for full proposal
  • Minimum Project Budget: $100,000
  • Minimum Operating Budget: $1,000,000
  • Geographic Focus: Primarily regions with Fidelity employee sites (Albuquerque, Boston, Raleigh/Durham, Cincinnati/Covington, Dallas/Ft. Worth, Denver, Jacksonville, Jersey City, Merrimack, Smithfield, Salt Lake City) plus national-impact organizations

Contact Details

Overview

The Fidelity Foundation was established in 1965 by Edward C. Johnson 3d, former Chairman of Fidelity Investments, and his father, the company's founder. As a private, nonoperating foundation, it has distributed over $500 million to qualified nonprofit organizations across the United States and Canada over its 60-year history. In 2023 alone, the foundation made 2,416 grants totaling nearly $147 million. The foundation's mission is to build capacity in nonprofit organizations through strategic, transformative investments that substantially increase grantee impact, efficiency, and long-term sustainability. Taking an investment approach to grantmaking, the foundation applies business fundamentals to evaluate proposals and seeks to make catalytic grants at strategic inflection points in an organization's development. As founder Edward C. Johnson 3d stated: "When we invest in an organization, we consider it a partnership...if we can help that organization become more self-sufficient, we feel we've achieved something."

Funding Priorities

Grant Programs

The foundation focuses exclusively on capacity-building projects budgeted at $100,000 or more, falling into three categories:

  • Capital Improvements: New construction, renovations, expansions, and other initiatives that support the organization's strategic vision and are central to overall health and sustainability
  • Planning Initiatives: Funding for project consultants to develop strategic, business, feasibility, technology, and other types of plans
  • Technology Projects: High-impact technology initiatives that can substantially increase organizational efficiency, effectiveness, and sustainability, including development of front and back-end office systems, performance measurement systems, online functionality, and financial accounting, inventory management, point-of-sale, and other business systems

Priority Areas

The foundation invests in nonprofits working across five impact areas:

  • Arts & Culture
  • Conservation
  • Education
  • Health
  • Social & Economic Mobility (also referred to as Education & Economic Opportunity and Financial Empowerment in some materials)

The foundation considers influential community projects from organizations in regions around Fidelity Investments' employee sites (Albuquerque, Boston, Raleigh/Durham, Cincinnati/Covington, Dallas/Ft. Worth, Denver, Jacksonville, Jersey City, Merrimack, Smithfield, and Salt Lake City), as well as organizations of national importance and high-impact projects with potential to inform the nonprofit sector.

What They Don't Fund

The foundation explicitly excludes:

  • Operating support, sponsorships, galas or benefits, scholarships, corporate memberships, or video and film projects
  • Start-up organizations, sectarian groups, public school systems, disease-specific associations, or individuals
  • Emergency or immediate funding needs
  • Successive-year or multiple-year grants (they generally do not make ongoing grants to the same organization)
  • Capital campaigns that have not already attracted at least half of their fundraising goal (they are not generally a lead or majority donor)
  • Organizations with operating budgets under $1,000,000
  • Projects with budgets under $100,000

Governance and Leadership

Trustees

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

Executive Leadership

  • Maura Marx, President
  • Barbara Sullivan, Vice President, Insights & Impact
  • Dan Ardito, Vice President, Finance and Treasurer
  • Kevin Saunders, Vice President, Legal
  • Lydia Bergen, Vice President, People & Workplace

The foundation's approach reflects the philosophy of its founder, Edward C. Johnson 3d, who emphasized partnership: "When we invest in an organization, we consider it a partnership...if we can help that organization become more self-sufficient, we feel we've achieved something."

Application Process & Timeline

How to Apply

The Fidelity Foundation uses a two-stage application process:

Stage 1: Letter of Inquiry (LOI)

  • Organizations that align with the foundation's guidelines begin by submitting a Letter of Inquiry through the online portal
  • Important: The foundation "does not frequently fund unsolicited LOIs," indicating high selectivity
  • When organizations have multiple needs, submit only one project that is a priority and best aligns with funding requirements
  • Applicants can expect a response within 60 days of submission
  • The LOI review process typically takes between 4-6 weeks

Stage 2: Full Proposal (By Invitation Only)

  • If your LOI is successful, the foundation will contact you with an invitation to submit a full proposal
  • The full proposal review process requires 3-6 months, which should be factored into your funding plan
  • Program staff may request additional information or conduct site visits during the review process
  • Upon completion of proposal review, program staff develops a funding recommendation for the foundation's trustees
  • Grants are approved at the discretion of the trustees

Decision Timeline

  • LOI Response: Within 60 days (typically 4-6 weeks for review)
  • Full Proposal Review: 3-6 months from proposal submission to decision
  • Total Timeline: Applicants should plan for 4-9 months from initial LOI to final decision

Success Rates

Specific success rate data is not publicly available. However, the foundation notes that it "does not frequently fund unsolicited LOIs" and that "proposal review is a competitive process and submission does not guarantee funding." With 2,416 grants made in 2023 and total giving of nearly $147 million, the foundation is an active grantmaker, but selectivity is emphasized throughout their materials.

Reapplication Policy

The foundation's official materials do not specify a reapplication policy for unsuccessful applicants. Organizations seeking clarification on reapplication timing should contact info@fidelityfoundation.org.

Application Success Factors

The Fidelity Foundation evaluates organizations and projects using business fundamentals and investment principles. Key success factors include:

Organizational Strength

  • Financial Management: Demonstrated history and ability to maintain operating surpluses
  • Balance Sheet Strength: Adequate current and net assets
  • Leadership Quality: Senior leadership and Board tenure, plus professional backgrounds of key personnel
  • Strategic Planning: Current strategic plan with accompanying business and operating budgets

Project Strength

  • Board Commitment: Board-level institutional commitment to the proposed project
  • Realistic Budget: Thoroughly developed and realistic project budget
  • Implementation Plan: Thorough, detailed implementation plan demonstrating how the project will be executed
  • Performance Measurement: Clear strategy for measuring project success and impact
  • Sustainability: Post-implementation operating projections showing long-term viability

Strategic Alignment

  • Innovation: Creative and innovative means of advancing the organization or nonprofit sector
  • Catalytic Impact: Projects at strategic inflection points that can substantially increase organizational impact, efficiency, or long-term sustainability
  • Capacity Building Focus: Projects that strengthen long-term organizational effectiveness and self-sufficiency
  • Partnership Readiness: Organizations positioned to engage in a partnership approach to grantmaking

Capital Campaign Specific

  • Community Support: For capital campaigns, at least 50% of the fundraising goal must already be secured before applying
  • Strategic Vision: Capital projects must be central to the overall health and sustainability of the organization

The foundation emphasizes that submission is a competitive process and uses challenge grants and matching approaches to leverage additional funding and encourage partnerships with other funders.

Key Takeaways for Grant Writers

  • Minimum Thresholds Matter: Only organizations with $1M+ operating budgets proposing $100K+ projects should apply—this is strictly enforced
  • Unsolicited Success is Rare: The foundation explicitly states it "does not frequently fund unsolicited LOIs"—relationship building and alignment are critical
  • Think Long-Term Capacity: This is not a funder for programmatic support; they want transformative, capacity-building projects that make organizations more self-sufficient and sustainable
  • Plan for a Long Timeline: Budget 4-9 months from LOI to decision; this is not a funder for urgent needs
  • Demonstrate Business Fundamentals: The foundation applies investment principles—show strong financial management, strategic planning, and realistic budgets with post-implementation projections
  • Show Catalytic Potential: They seek projects at strategic inflection points; articulate how this investment will substantially increase your impact, efficiency, or sustainability
  • Capital Campaigns Need Momentum: If applying for capital support, secure at least 50% of your goal first; they are not lead or majority donors
  • One Shot, One Focus: Submit only your top priority project that best aligns with their guidelines; don't submit multiple requests

References

All sources accessed December 2024.

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