ADVERTISEMENT
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Fidelity Charitable® Appoints Jacob Pruitt as President

October 5, 2021 GMT

BOSTON--(BUSINESS WIRE)--Oct 5, 2021--

Fidelity Charitable ®, an independent public charity and the largest grantmaker in the country, today announced the appointment of Jacob Pruitt as president, succeeding Pamela Norley, effective October 18, 2021. Prior to joining Fidelity Charitable, Pruitt was vice president and head of T. Rowe Price Charitable, leading the firm’s charitable giving strategy and donor-advised fund program. Pruitt also led the Colorado regional strategy for T. Rowe Price and was a member of the company’s Diversity and Inclusion Operating Council. He serves on several outside boards, including the Colorado Springs Chamber & EDC (Economic Development Corp.), the University of Colorado Foundation, and Teach for America Colorado.

ADVERTISEMENT

Pruitt is a graduate of Tennessee State University and Stanford University Graduate School of Business’ executive management program. He is also a decorated U.S. Marine Corps veteran of Operations Desert Shield and Desert Storm.

“Jacob Pruitt’s diverse experience, background, and unique leadership style and presence make him ideally suited to advancing our mission of growing the American tradition of philanthropy by making giving accessible, simple and effective for all,” said Alfred E. Osborne Jr., Ph.D., chair of the board of trustees for Fidelity Charitable. “As the philanthropic landscape has evolved, donors continue to seek ways they can amplify their giving through the use of donor-advised funds. Jacob will help Fidelity Charitable advance its work to drive increased impact for the sector.”

Today’s news comes as Pamela Norley announces her retirement after five years leading Fidelity Charitable and more than 20 years in various leadership roles across Fidelity Investments from corporate legal to product development, management consulting and talent management to establishing the Enterprise Relationships Group. Norley oversaw a period of unprecedented growth in donors and grantmaking at Fidelity Charitable. During this time, annual grants nearly tripled from $3.5 billion in 2016 to $9.1 billion in 2020, bringing the charity’s total impact to $51 billion in grants supporting more than 328,000 nonprofits. The number of Giving Account ® donor-advised funds also nearly doubled from about 90,000 to more than 153,000 by the close of 2020.

ADVERTISEMENT

In addition to this significant growth, Norley drove numerous innovations, such as eliminating the minimum contribution needed to open a Giving Account ®, expanding the menu of sustainable and impact investment options available to donors—leading to more than $2 billion invested for impact—and improving the ease and simplicity of the digital experience for donors.

Both Norley and Pruitt will continue their work on nonprofit boards, and she will work with him through the end of the year to ensure a smooth transition.

“Granting impact nearly tripled under Pam’s guidance over the past five years, as she helped Fidelity Charitable support more donors and nonprofits than ever before,” said Osborne. “The board thanks Pam for her exemplary leadership in service of our mission and congratulates her on her retirement. We are delighted that Pam will continue to share her energy and effort to benefit the nonprofit and corporate sector through board service.”

About Fidelity Charitable

Fidelity Charitable is an independent public charity that has helped donors support more than 328,000 nonprofit organizations with over $51 billion in grants. Established in 1991, Fidelity Charitable launched the first national donor-advised fund program. The mission of the organization is to grow the American tradition of philanthropy by providing programs that make charitable giving accessible, simple and effective. For more information about Fidelity Charitable, visit www.fidelitycharitable.org.

View source version on businesswire.com:https://www.businesswire.com/news/home/20211005005895/en/

CONTACT: Enterprise External Communications

(617) 563-5800

fidelitycorporateaffairs@fmr.comSteve Austin

(617) 563-0636

stephen.austin@fmr.comFollow us on Twitter@FidelityChrtbl

KEYWORD: MASSACHUSETTS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: OTHER PROFESSIONAL SERVICES OTHER PHILANTHROPY FINANCE BANKING PROFESSIONAL SERVICES PHILANTHROPY FUND RAISING FOUNDATION

SOURCE: Fidelity Charitable

Copyright Business Wire 2021.

PUB: 10/05/2021 11:04 AM/DISC: 10/05/2021 11:04 AM

http://www.businesswire.com/news/home/20211005005895/en