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Vanguard Charitable Endowment Program
Vanguard Charitable Endowment Program reported $6.67 billion in revenue and $3.54 billion in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $99.65 went to program services, $0.24 to management and general costs and $0.11 to fundraising. Its largest source of revenue was contributions and grants: 86.3% of the total. The highest compensation it reported for one person was $608,684 (PRESIDENT). 32 people received more than $100,000 in reportable compensation. Revenue rose 35% between FY2021 and FY2025. Source: Form 990, FY2025.
Where $100 of spending went
The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $3.54BFor context, the median across 1,001 covered philanthropy, voluntarism & grantmaking charities: $91.65 programs, $6.50 management, $1.85 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $6.67BThe 990 scorecard · same measures for every charity, no grades
| Measure | FY2025 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 99.6% | 90.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 0.2% | 6.4% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.1% | 1.8% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.02 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 86.3% | 79.9% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 0.0% | 0.0% |
| Program service revenue share Part VIII 2g ÷ 12 | 0.0% | 0.0% |
| Highest reported compensation Part VII-A, columns D–F | $608,684 | $325,675 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 0.02% | 1.56% |
| People paid over $100,000 Part VII, line 2 | 32 | 3 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 92.2 | 56.6 |
| Independent voting board members Part VI 1a–1b | 5 of 5 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
FY2025 · Form 990, Part III · the three largest programs by expenseVanguard Charitable is a leading U.S. Nonprofit organization that fulfills its mission to increase philanthropy and maximize its impact over time by administering a donor-advised fund, a tax-effective way to consolidate, accrue, and grant assets to charity. The unique structure of our personal philanthropic accounts allows donors to be strategic about giving and manage their charitable donations in a tax-effective, flexible, and convenient way. Those attributes, coupled with our low costs and meaningful charitable guidance, help donors maximize their philanthropic impact. Through these…
Highest reported compensation
FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| PRESIDENT Officer, 40.0 hrs/week | $527,625 | $0 | $81,059 | $608,684 |
| CHIEF PHILANTHROPIC OFFICER Key employee, 40.0 hrs/week | $351,035 | $0 | $63,142 | $414,177 |
| CHIEF FINANCIAL OFFICER Officer, 40.0 hrs/week | $341,359 | $0 | $61,980 | $403,339 |
| GC & CHF LEG OFF(THROUGH 3/25) Key employee, 40.0 hrs/week | $315,440 | $0 | $51,588 | $367,028 |
| CHIEF DEVELOPMENT OFFICER Key employee, 40.0 hrs/week | $249,974 | $0 | $59,327 | $309,301 |
| CHIEF COMMUNICATIONS OFFICER Key employee, 40.0 hrs/week | $238,296 | $0 | $65,685 | $303,981 |
| SR. MGR. RISK & COMPLEX ASSETS Highest compensated employee, 40.0 hrs/week | $170,561 | $0 | $52,122 | $222,683 |
| SR. MANAGER PRODUCT OWNER Highest compensated employee, 40.0 hrs/week | $175,819 | $0 | $43,052 | $218,871 |
32 people received more than $100,000 in reportable compensation from Vanguard Charitable Endowment Program (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.6M (Part IX, line 5).
5 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b5 · 5 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 5121
Private foundation grants it received
107 private foundations reported grants to Vanguard Charitable Endowment Program totaling $201M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Vanguard Charitable Endowment Program's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Vanguard Charitable Endowment Program, you can publish a response that is linked from this page.
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Of every $100 Vanguard Charitable Endowment Program spent in FY2025, $99.65 went to programs. The full breakdown, from its IRS Form 990:
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All philanthropy, voluntarism & grantmaking charities · Largest charities in Pennsylvania
Questions people ask
How much of Vanguard Charitable Endowment Program's spending goes to programs?
In the fiscal year ending June 30, 2025, Vanguard Charitable Endowment Program reported that 99.6% of its $3.54 billion in expenses went to program services, 0.2% to management and general and 0.1% to fundraising (Form 990, Part IX).
How much does Vanguard Charitable Endowment Program pay its top executive?
The largest total compensation Vanguard Charitable Endowment Program reported for one person in the fiscal year ending June 30, 2025 was $608,684, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Vanguard Charitable Endowment Program get its money?
Of $6.67 billion in revenue in the fiscal year ending June 30, 2025, 86.3% came from contributions and grants and 0.0% from program service revenue (Form 990, Part VIII).
Is Vanguard Charitable Endowment Program a registered charity?
The IRS lists EIN 23-2888152 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202621329349306657 · read the filing
- FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202511349349313096 · read the filing
- FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202441359349309439 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202331359349303108 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202211339349310116 · read the filing
All filings for EIN 23-2888152: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.