In an effort to make more money available for philanthropic giving, investment costs for Vanguard Charitable's 7,700 donor-advised accounts are dropping between 25% and more than 60% per year, the organization announced Tuesday.
"We've dramatically reduced the costs and increased the value of Vanguard Charitable investment pools by collaborating with Vanguard on improved pricing," the program's president, Ben Pierce, said in the statement. "With reduced costs of investing, we project that our donors could be able to support their favorite charities with more than a million grant dollars in the first year alone."
Effective July 1, the investment costs for Vanguard Charitable pools will drop from between 0.07% and 0.28% to an estimated range of between 0.06% and 0.21% a year.
