Wall Street’s Nonprofits Use Selective, Opaque Logic to Defund Charities

Three Wall-Street-affiliated grantmaking giants—Vanguard Charitable, Fidelity Charitable, and Charles Schwab’s DAFgiving360—cut off donor dollars to the Southern Poverty Law Center (SPLC) using selective logic. ProPublica investigated these decisions, uncovering troubling inconsistencies in how the groups applied their policies, noting that donors and affected charities are routinely left unaware of the decision-making process.