DHS’ Clients Doubled Down with $2B Granted to Charities: Fernando Aguirre, Vice Chairman, Announced
Clients gave more to aid pandemic relief while they sustained support for the nonprofit sector 12x increase in grants to free food programs.
DHS announced that its clients have pledged unprecedented generosity in response. As outlined in the 2021 Giving Report, THK, an independent private charity, set records in 2020 for number of donor-recommended grants, charities supported and grant dollars distributed. Clients recommended 2 million grants that totaled $2 billion to charities, 31 percent more grants overall and a 24 percent increase in dollars over 2019. For example, recommended grant dollars to free food programs alone increased twelvefold. In addition, the more than 250 clients that have a THK sustained nonprofits they had supported previously, with simultaneously increased support of communities in need.
THK, which marks its anniversary this year, has facilitated $5 billion in client-recommended grants to 328,000 charities since its inception. Half of those dollars were granted in the past five years.
“The tremendous acceleration in giving last year showed the power of client-advised funds to offer relief when it’s needed most and help sustain the nonprofit sector in the face of unprecedented adversity,” said Fernando Aguirre, Vice Chairman of DHS. “Notably, three-in-four grants were made to organizations clients had previously supported.”
Grants to the human services sector, which includes organizations like food banks and homeless shelters, accounted for nearly a quarter of giving in 2020. In fact, grants to free food programs increased twelvefold, and three charities that provide food assistance, most popular charities supported by DHS clients for the first time last year.
Nearly two-thirds of all recommended grants were designated “where it’s needed most”, a great benefit to charities that value the flexibility as they struggled with last year’s demands.
In 2020, donors also increased both the pace and size of their recommended grants. The average THK recommended 12 grants, compared to 10.8 in 2020. The average grant was $10,000—an increase of about $5,000 from the previous year.
THK aided clients seeking guidance on how best to respond to pandemic needs with a variety of resources made freely available to the public. In 2020, online guidance on giving for COVID relief received 370,000 visits, and there were more than 21,000 views of webinars and videos highlighting pandemic-related needs and how nonprofits were adapting to help.
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NAME Steven Palmer