Fidelity, Vanguard Cut Off Southern Poverty Law Center Grants
Fidelity Charitable told donors the SPLC is ineligible while a federal investigation continues, and Schwab still allowed requests as of Wednesday morning.
- On April 29, Fidelity Charitable and Vanguard Charitable stopped facilitating donations to the Southern Poverty Law Center following a federal grand jury indictment of the nonprofit.
- Acting Attorney General Todd Blanche announced the indictment on April 21, alleging the SPLC funneled more than $3 million to extremist groups like the Ku Klux Klan between 2014 and 2023.
- Both investment giants maintain policies pausing grants to organizations under criminal indictment to ensure tax-exempt eligibility; Fidelity Charitable's policy states recommendations "might" be declined if an organization is investigated for alleged illegal activities.
- The SPLC denies the allegations, claiming payments supported a legitimate informant program, while supporters have moved online to donate funds helping the organization fight the federal government.
- This development marks a reversal for the SPLC, which previously pressured donor-advised funds to blacklist groups based on its own "hate map," a practice critics have long characterized as a weaponized smear.
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The New York LedgerFidelity, Vanguard reportedly pause SPLC grants after federal fraud charges
Fidelity and Vanguard's charitable arms reportedly paused grants to the SPLC through donor-advised funds after the group faced federal wire fraud and money laundering charges.
‘Money laundering’: SPLC gets taste of its own blacklisting practice, gets ‘debanked’ * WorldNetDaily * by Tyler O’Neil, The Daily Signal
Source link After years of the Southern Poverty Law Center demanding that charitable foundations blacklist conservative and Christian nonprofits, the shoe is finally on the other foot: Fidelity Charitable has denied contributions to the SPLC. Fidelity hasn’t targeted the SPLC for ideological reasons in the same way the SPLC targets conservatives, however—America’s largest sponsor of
SPLC’s Indictment Prompts Loss of Donations from Vanguard, Fidelity Charitable Programs
SPLC’s Indictment Prompts Loss of Donations from Vanguard, Fidelity Charitable Programs Fidelity and Vanguard, two of the top three investment companies managing trillions of dollars of assets, have stopped facilitating customers’ donations to the Southern Poverty Law Center (SPLC) as a result of the Justice Department’s indictment of the nonprofit that purports to identify and combat “hate” in the name of social justice. The philanthropic arms…
'Money laundering': SPLC gets taste of its own blacklisting practice, gets 'debanked' * WorldNetDaily * by Tyler O'Neil, The Daily Signal
After years of the Southern Poverty Law Center demanding that charitable foundations blacklist conservative and Christian nonprofits, the shoe is finally on the other foot: Fidelity Charitable has denied contributions to the SPLC. Fidelity hasn’t targeted the SPLC for ideological reasons in the same way the SPLC targets conservatives, however—America’s largest sponsor of donor-advised funds is merely following its own policies regarding nonprofi…
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