Fidelity Foundation
The Fidelity Foundation is a private foundation based in Boston, Massachusetts, that supports nonprofit organizations through capacity-building grants. Established in 1965 by Edward C. Johnson 3d and his father, it takes an investment approach to grantmaking, seeking projects that can deliver lasting, measurable value and strengthen organizations’ long-term effectiveness and self-reliance.
Key facts about Fidelity Foundation
In short: Fidelity Foundation gave $156.2M across 4,430 grants in 2024 (avg $35K), top state Massachusetts. 32% of 2024 grantees were new. Source: 2024 IRS Form 990-PF.
- EIN
- 04-6131201
- Latest 990 filing
- Form 990-PF, 2024
- Annual giving (2024)
- $156,206,272
- Grants made (2024)
- 4,430
- Average grant
- $35,261
- Median grant
- $400
- New grantees (estimate)
- 32% first-time grantees (517 of 1,604, 2024)
- Total assets
- $4,982,473,098
- Primary geography
- Massachusetts (27% of itemized 2024 grant dollars)
- How to apply
- Submit a Letter of Inquiry through the Foundation’s online application process. Full details ↓
Data from IRS Form 990-PF, 2024; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$5.0B
+30.3% YoY
Annual Giving
$156.2M
+6.3% YoY
Grant Count
4,430
+32.8% YoY
Avg Grant Size
$35K
-20.0% YoY
Under IRS private-foundation payout rules, Fidelity Foundation reported a distributable amount of $230.9M for 2024 — the minimum it must pay out in qualifying distributions.
Is Fidelity Foundation open to new grantees?
32%
first-time grantees, 2024
In 2024, 517 of 1,604 grantees (32%) were first-time recipients. First grants averaged $96K; repeat grants $98K. How we count
Medians: $1K first-time, $3K repeat.
- 53% of 2024 grantees were also funded in 2023. Method
- Giving grew 77% from 2021 to 2024. Method
- In 2024 it paid out 81% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method
Estimate from itemized grant lists in IRS Form 990-PF filings (2020–2024). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The Foundation’s stated purpose is to strengthen nonprofit organizations and encourage high standards of management and long-term self-reliance. Its priority sectors are arts and culture, conservation, education, health, and social and economic mobility. It supports strategic, transformative projects intended to increase an organization’s impact, efficiency, or sustainability, including capital investments and planning initiatives.
Examples of supported organizations illustrate the range of its grantmaking. Hobart and William Smith Colleges, whose mission is to prepare students to lead lives of consequence, received a grant. Conservation grantees include Northeast Wilderness Trust, which describes its mission as preserving and restoring wild landscapes, and Grand Teton National Park Foundation, which partners with the park to steward and protect it. Other recipients include Pine Street Inn, whose mission is to end homelessness, and New England Aquarium, which describes its work as combining public engagement, education, marine conservation, research, and advocacy.
The Foundation also conducts direct charitable activity: it has acquired land through Lyme-Quabbin for long-term conservation and preservation.
Grantmaking
In 2024, the Foundation made 4,430 grants totaling $156,206,272. Grant amounts ranged from $10 to $10,000,000, with a median of $400.
Among the largest 2024 grants were $10,000,000 to Hobart and William Smith Colleges for general operating and annual support; $5,050,000 to Pine Street Inn for an endowment; and $3,300,000 to Northeast Wilderness Trust for an endowment. Other notable grants included $2,500,000 each to Boys & Girls Clubs of Palm Beach County for land or building acquisition, Cox Science Center and Aquarium for construction, New England Aquarium for discovery research, and St. Lawrence University for an endowment.
Applicants must have current 501(c)(3) public charity status, an operating budget of at least $1 million, and a proposed project budget of at least $100,000. The Foundation’s program information also states that it does not fund start-up organizations, capital campaigns without prior support, or emergency funding. Its review considers organizational finances and leadership, project plans and budgets, performance measurement, and post-implementation operating projections. Applicants may submit a Letter of Inquiry (LOI); an initial response is provided within 60 days, and an LOI review typically takes four to six weeks. A full proposal is by invitation, and proposal review typically takes three to six months. Grantees are generally asked to submit a post-grant report about a year after receiving an award.
How to Apply
Submit a Letter of Inquiry through the Foundation’s online application process. If invited, submit a full proposal. The Foundation’s guidelines govern eligibility, project focus, and funding restrictions.
Open Grants
1 open opportunity from Fidelity Foundation
Ready to take the next step with Fidelity Foundation?
Geographic Focus
Where this funder awards grants
The Foundation considers community projects in regions around Fidelity Investments employee sites in Albuquerque, Boston, Raleigh/Durham, Covington/Cincinnati, Dallas/Fort Worth, Denver, Jacksonville, Jersey City, Merrimack, Smithfield, and Salt Lake City. It also considers organizations of national importance and high-impact projects with potential to inform the nonprofit sector.
In 2024, Massachusetts received 27% of grant dollars, New York 11%, Texas 10%, an individual recipient 7%, and Florida 6%.
Grant Distribution by State
Share of 2024 grant dollars across all 4,430 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2020 to 2024, annual grant giving ranged from $72.1M (2020) to $160.8M (2022). In 2024 it made 4,430 grants totaling $156.2M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
The largest 2024 recipient was Hobart and William Smith Colleges ($10.0M). Together the top 10 received $35.7M.
Organizations only. It also paid 6 grants to individuals ($1,404,500), which are not listed by name.
Grant Size Distribution
21,814 grants across all recorded years
The most common grant size was under $50K: 20,157 grants of 21,814 (92%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Hobart and William Smith Colleges Geneva, NY | General Operating / Annual Support | $10,000,000 |
| Pine Street Inn Inc Boston, MA | Endowment | $5,050,000 |
| Northeast Wilderness Trust Montpelier, VT | Endowment | $3,300,000 |
| Boys & Girls Clubs of Palm Beach County West Palm Beach, FL | Land / Building Acquisition | $2,500,000 |
| Cox Science Center and Aquarium West Palm Beach, FL | Construction | $2,500,000 |
| New England Aquarium Boston, MA | Discovery Research (Science) | $2,500,000 |
| St Lawrence University Canton, NY | Endowment | $2,500,000 |
| Adopt-a-Student Foundation Boston, MA | Campaign / Fundraising Plan | $2,000,000 |
| Everytown for Gun Safety New York, NY | General Operating / Annual Support | $2,000,000 |
| Grand Teton National Park Foundation Moose, WY | Acquisition for Preservation | $2,000,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants | Grant count |
|---|---|---|---|---|---|
| 2024 | $4,982,473,098 | $1,327,179,367 | $171,848,038 | $156,206,272 | 4,430 |
| 2023 | $3,824,770,952 | $958,894,354 | $159,217,067 | $146,970,213 | 3,336 |
| 2022 | $3,025,064,750 | $667,444,682 | $171,982,325 | $160,823,752 | 3,022 |
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $4,982,473,098 | $3,824,770,952 | $3,025,064,750 |
| Revenue | $1,327,179,367 | $958,894,354 | $667,444,682 |
| Expenses | $171,848,038 | $159,217,067 | $171,982,325 |
| Qualifying Distributions | $188,165,934 | $161,417,067 | $169,694,158 |
| Net Investment Income | $369,361,295 | $150,942,293 | $41,390,076 |
| Distributable Amount | $230,903,319 | $165,832,164 | $141,993,629 |
Data update history
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2020–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Maura Marx as president; Ross E. Sherbrooke and Abigail P. Johnson as directors and vice presidents; Elizabeth L. Johnson and Edward C. Johnson IV as directors; Daniel M. Ardito as treasurer; and Kevin Saunders as secretary.
Fidelity Foundation is led by Maura Marx, President on every filing since 2020; 3 of 7 officers listed in 2024 are compensated.
Officers on the 2024 filing
Maura Marx
President
On filings since 2020
18 hrs/week
$301K (2020) → $483K (2024)
Abigail P. Johnson
Director & Vice President
On filings since 2020
2.5 hrs/week
No compensation reported
Edward C. Johnson IV
Director
On filings since 2020
2.5 hrs/week
No compensation reported
Elizabeth L. Johnson
Director
On filings since 2020
2.5 hrs/week
No compensation reported
Ross E. Sherbrooke
Director & Vice President
On filings since 2020
2.5 hrs/week
No compensation reported
Daniel M. Ardito
Treasurer
On filings since 2020
21 hrs/week
$208K (2020) → $241K (2024)
Kevin Saunders
Secretary
On filings since 2022
17 hrs/week
$178K (2022) → $166K (2024)
Former officers (1)
- Former: Melanie S. Sommer (2020–2022) — Secretary
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $483K, to Maura Marx (President). 3 officers or directors reported compensation on that filing.
Contact
Application contact: Inquire Online See Line B
Mailing address: 7 Water Street, Boston, MA 02109
Phone: (617) 646-7418
Website: https://fidelityfoundation.org
Frequently asked questions about Fidelity Foundation
How much does Fidelity Foundation give each year?
Fidelity Foundation gave $156.2M across 4,430 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $147.0M across 3,336 grants.
What is Fidelity Foundation's typical grant size?
Fidelity Foundation's median grant in 2024 was $400, and its average grant was $35,261, across 4,430 grants on its 2024 IRS Form 990-PF. Organizations receiving their first grant from Fidelity Foundation that year got $96K on average.
Where does Fidelity Foundation give grants?
Fidelity Foundation's top state is Massachusetts, with 27% of the grant dollars itemized on its 2024 IRS Form 990-PF. The next largest states were New York (11%) and Texas (10%). The most frequent recipient cities were Providence, RI (342 grants), Boston, MA (185 grants), Cincinnati, OH (132 grants) and Raleigh, NC (132 grants).
Does Fidelity Foundation give general operating support?
Occasionally: 0% of Fidelity Foundation's 2024 grants with a stated purpose (7 of 4,430) were for general or operating support, per its 2024 IRS Form 990-PF. Recurring purposes include "Fidelity Matching Gifts to Education" (3956 grants), "Crosby Matching Gifts to Education" (67 grants) and "Technology & Equipment" (63 grants).
Who are Fidelity Foundation's largest grantees?
Fidelity Foundation's largest 2024 grantees include Hobart and William Smith Colleges ($10,000,000), Pine Street Inn Inc ($5,050,000) and Northeast Wilderness Trust ($4,600,000 across 3 grants), according to its 2024 IRS Form 990-PF. It also paid 6 grants to individuals ($1,404,500), which are not listed by name. Together they received 13% of its itemized 2024 grant dollars.
How large is Fidelity Foundation?
Fidelity Foundation reported $5.0B in total assets on its 2024 IRS Form 990-PF. It paid out $188.2M in qualifying distributions that year, against a required minimum of $230.9M (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What does Fidelity Foundation fund?
The Foundation’s stated purpose is to strengthen nonprofit organizations and encourage high standards of management and long-term self-reliance. Its priority sectors are arts and culture, conservation, education, health, and social and economic mobility. See mission & focus areas ↑
How do I apply for a grant from Fidelity Foundation?
Submit a Letter of Inquiry through the Foundation’s online application process. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Fidelity Foundation's EIN?
Fidelity Foundation's EIN (Employer Identification Number) is 04-6131201. IRS Form 990 filing data is available on this page for 2020–2024.
Data last updated October 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
Here's the math on researching Fidelity Foundation by hand.
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Cite this profile
Grantable. (2026). Fidelity Foundation funder profile. GrantGraph. Retrieved October 4, 2026, from https://grantable.co/funders/fidelity-foundation-morg_b129907c8b8440369ac52db619aeb226
BibTeX
@misc{grantable_046131201_2026,
author = {{Grantable}},
title = {{Fidelity Foundation funder profile}},
howpublished = {GrantGraph},
year = {2026},
url = {https://grantable.co/funders/fidelity-foundation-morg_b129907c8b8440369ac52db619aeb226},
note = {Accessed 2026-10-04. Data licensed CC BY 4.0}
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