Vanguard Charitable has recently announced that Kevin Cavanaugh will join the organization as chief financial officer.
Cavanaugh most recently served as CFO and vice president of finance and administration at the Chemical Heritage Foundation, a non-profit foundation dedicated to preserving and making known the history of the chemical sciences. Now as the CFO of Vanguard Charitable, Cavanaugh will oversee approximately 6 billion dollars in donor-invested philanthropic assets and all of Vanguard Charitable’s finance, accounting, human resources and compliance functions. Vanguard Charitable's President, Jane Greenfield, said in a statement: “We are pleased to welcome Kevin to the team. He brings with him both a successful record of financial leadership and a strong commitment to the charitable sector, both in his professional and personal life. This twofold background makes Kevin an ideal addition to our organization, which is focused on stewarding billions in charitable assets for the benefit of our donors and nonprofit organizations.” Cavanaugh expressed his enthousiasm for his new position, stating: “Vanguard Charitable is driven by a compelling mission to increase philanthropy, and I am excited to play a role in that. I am attracted to both the tremendous level of giving by our donors and the expansive breadth of impact the organization has across the United States.” In the past year we've seen that Vanguard Charitable had some significant granting gains, as the organization reported a record of 704.5 million dollars in donor-recommended grants. These dollars were distributed via 71,000 individual grants, which was a 7.5% increase over 2015. Human services-related organizations received 24% of Vanguard Charitable’s grants, followed by religious and educational organizations at 22% and 20%. Approximately 7,000 nonprofit organizations received their first grant from Vanguard Charitable!