Wall Street's Nonprofits Use Selective, Opaque Logic to Defund Charities, ProPublica Investigation Reveals

Summary

A ProPublica investigation reveals that major Wall Street-affiliated donor-advised fund sponsors, including Vanguard Charitable, Fidelity Charitable, and DAFgiving360, use opaque and inconsistent logic to defund charities like the Southern Poverty Law Center. These sponsors, which control over $327 billion in assets, often leave donors and affected organizations in the dark about their decisions.