Fidelity, Vanguard block donor-advised fund donations to SPLC amid federal indictment fallout

The New York Times is reporting that Fidelity Charitable and Vanguard Charitable have halted grantmaking to the Southern Poverty Law Center in Montgomery, Alabama, cutting off access to donor-advised fund (DAF) donations following a federal indictment alleging financial misconduct. The move affects contributions from accounts collectively holding billions in charitable assets. The pause is intended to mitigate risk while investigations proceed, but critics argue it preemptively penalizes a recognized nonprofit. The decision highlights the growing gatekeeping power of DAF sponsors over where funds go, raising concerns about donor intent, due process, and the broader impact on nonprofit funding stability.