Fay has been President of the Arthur M. Blank Family Foundation since February 2021. She previously served in senior roles at the William and Flora Hewlett Foundation, the Bill and Melinda Gates Foundation and Yad Hanadiv, and was a founding principal of BTW – Informing Change, a strategic consulting firm. Fay serves on the Executive Committee of the Metro Atlanta Chamber of Commerce and is the Chair of the Board of Van Leer Jerusalem Institute.