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The Wall Street Takeover of Charity
http://www.propublica.org/thetrade/item/the-wall-street-takeover-of-charity?google_editors_picks=true-snip-
Donor-advised funds run by huge money management firms are exploding.
Fidelity Charitable runs the second-ranked charity in the United States, according to the Chronicle of Philanthropy, behind United Way Worldwide. Charles Schwab's is fourth and Vanguard's is 10th.
People aren't literally giving to these companies. They are setting up accounts at these firms and then disbursing the money, advising on which charities get how much.
-snip-
