MALVERN, Pa.--(BUSINESS WIRE)--Vanguard Charitable, one of the largest charities in the United States and a leading donor-advised fund, announced today that Philadelphia banking and nonprofit executive Ann Gill has been appointed as the organization’s Chief Philanthropic Officer.
Ms. Gill will head Vanguard Charitable’s Philanthropic Services Group, which helps donors to maximize their charitable impact through a strategic giving plan that includes their funding schedule, investment asset allocation and long-term philanthropic goals.
“We are pleased to welcome Ann to the team. Her proven success in relationship management will be extremely valuable in our continued efforts to have deeper, more strategic conversations with our donors on how they can effectively fulfill their philanthropic goals and amplify their impact through a consolidated blueprint for giving,” said Vanguard Charitable President Ben Pierce.
Ms. Gill, a former regional director and senior vice president at Wells Fargo and managing director of Wachovia Securities/First Union Bank, brings more than 30 years of experience in relationship management to Vanguard Charitable. Over the course of her distinguished corporate and investment banking career, she fostered relationships with nonprofit groups such as colleges and universities, launched new business initiatives, and was recognized for her leadership skills.
“Charity is more about strong, long-term relationships than just writing a check until the next solicitation or tax deadline arrives,” said Ms. Gill. “At Vanguard Charitable, I look forward to helping people and organizations implement and evaluate strategic giving plans that address their giving needs while upholding and passing along their values to future generations.”
Ms. Gill, who was recognized as a “Woman of Distinction” by the Philadelphia Business Journal, recently served as treasurer on the Executive Committee of Women’s Way, the largest grant-making federation for women-oriented agencies. A graduate of Rosemont College, she is a member of the Forum of Executive Women and board chair emeritus of the Metropolitan Career Center. She also previously served on the Board of Trustees of the Bryn Mawr Rehabilitation Hospital Foundation.
Top ranking in Philanthropy 400
Vanguard Charitable rose to number 13 in the most recent annual ranking of the 400 largest U.S. nonprofits by The Chronicle of Philanthropy. The report lists organizations by total private donations raised in fiscal year 2012.
Vanguard Charitable’s donations in 2012 elevated the organization past its pre-recession giving levels, which Mr. Pierce credits to the growing interest in donor-advised funds due to increased awareness of the benefits of tax-effective, strategic giving.
Increasing strategic and effective giving
Vanguard Charitable is committed to increasing philanthropy by providing donors with the resources they need to strategically grow charitable assets and then effectively give them to charity. In the past few months, Vanguard Charitable has:
- Reached a major giving milestone by granting more than $4 billion to charity since inception. More than 20% of that total went to human services organizations and more than 15% went to educational causes. On average in 2012, each philanthropic account at Vanguard Charitable recommended more than $59,000 in grants to charity.
- Helped donors’ philanthropic accounts save tens of thousands annually by lowering the cost of giving—allowing more to be granted to charitable causes. The very low investment fees keep charitable dollars accruing for charity, rather than eroding over time. As an example, the expense ratio for Vanguard Charitable’s Total U.S. Stock investment option, which represents approximately 20% of Vanguard Charitable’s total invested assets, was reduced to just 0.05%, saving philanthropic accounts about $70,000 annually. Additionally, the administrative fee was lowered from 0.45% to 0.40% for account assets between $500,000 and $1,000,000. With less fees going toward expenses, more money is available to grant to charity.
About Vanguard Charitable
Vanguard Charitable is a leading U.S. nonprofit organization that fulfills its mission to increase philanthropic giving by administering a donor-advised fund—a tax-effective way to consolidate, accrue, and grant assets to charity. Since it was founded by Vanguard in 1997 as an independent 501(c)(3) organization, Vanguard Charitable has granted more than $4 billion to charity. More information is available at vanguardcharitable.org.
