They have made two separate donations of $1 million each to both the NAACP Legal Defense and Educational Fund and the Young Center for Immigrant Children's Rights. The news was announced on Wednesday, reports etonline.com.
"We're blown away by the NAACP Legal Defense and Educational Fund, and the Young Center's commitment to not only justice and democracy, but humanity," the couple said regarding their donation.
"Over the last few years, our perspective has grown and we've realised we have to do everything possible to foster more compassion and empathy in this world. History's being written right now. We're grateful to give back to organisations who give voice to so many," they added.
According to an announcement made by the Young Center, the donation will be used to establish the Waymaker Fund for Immigrant Children, which aims to protect and increase protections for the rights of immigrant children separated from their families at the border.
The donation to the NAACP LDF law firm will help the organisation's efforts to promote racial and social justice and equality across the nation through challenging unconstitutional legislation and advocacy litigation.
This isn't the first time the couple have pledged their support to charitable organisations.
Reynolds has been a vocal and financial supporter of the Make-A-Wish Foundation, F**k Cancer and the Michael J. Fox Foundation, while Lively has backed multiple groups, including charity organisation Chime for Change.
They are also looking forward to welcoming their third child before the end of this year.
( With inputs from IANS )