The initiative, spurred by recent investigative media reports exposing millions of dollars funneling to hate groups through Donor Advised Funds, institutes a new policy and encourages other DAF providers to follow suit. The report found that major funds including Fidelity, Schwab and Vanguard provided nearly $11 million in grants to 34 organizations that are recognized as hate groups. These include organizations that identify as anti-Muslim, anti-immigrant and anti-LGBTQ.
We take our responsibility as a public charity, committed to the public good, very seriously and remain steadfast in upholding our values commitment. Hate Is Not Charitable calls on DAF providers to exercise their legal discretion over grants recommended by their donors and to adopt proactive policies to ensure that funds don’t flow to hate groups. The Amalgamated Foundation enacted such a policy in hopes to serve as a model for other providers and foundations.
So far, over 30 donor networks, DAF providers and private foundations have signed on. Last week, our work was featured in the Chronicle of Philanthropy and clients and peers continue to spread the word every day, encouraging other financial institutions to take heed and that support of such work must not be tolerated.
Hate has no place in our society. By spearheading this effort, we hope that message will have reverberating effects throughout not only the philanthropic and financial networks, but society as a whole.