National Donor-Advised Fund Sets Single-Year Record with More Than $1 Billion Contributed; Total Contributions Top $5 Billion, Grants Exceed $2 Billion and Assets Exceed $3 Billion
Public Company Information:
SAN FRANCISCO--(BUSINESS WIRE)--Schwab Charitable, one of the nation’s largest and fastest growing national donor-advised fund organizations, today reported record 2010 contributions by its donors of $1.085 billion, more than double the amount in 2009.
Over the firm’s 10-year operating history, total contributions have now surpassed $5 billion and grants have surpassed $2 billion. Assets under management exceed $3 billion.
“At a time of great need, we have seen a tremendous outpouring of generosity from our donors in support of a wide variety of charitable causes,” said Kim Wright-Violich, president of Schwab Charitable. “While we provide a responsive and low-cost way to facilitate charitable giving, it is only through the generosity of our donors that Schwab Charitable has been able to reach and pass these notable milestones.”
Schwab Charitable, a leading national donor-advised fund, allows donors to realize the tax benefits of charitable giving while flexibly supporting their favorite charities over time. It is accessible to donors of all sizes (account size ranges from $5,000 to over $300MM), and is simple, efficient, and low cost. It also enables donors to customize their experience and maintain their privacy if desired.
As a leader in complex gift acceptance and the investment management of charitable funds, Schwab Charitable has become a clear choice for philanthropic individuals, as well as the investment advisors, wealth managers and family offices who serve them. In the past few years, the organization introduced a number of innovations that proved popular and helped to drive its growth, including an Enhanced Website, Expanded Investment Options, a Private Foundation Conversion Service, Customized Grant Letterhead and the Double Give Microfinance Guarantee Program.
“I marvel at the resilience of Americans’ commitment through both good and challenging times to charitable causes. It is a reason to be optimistic," says Ms. Wright-Violich. "We at Schwab Charitable find it rewarding to be in a position to provide a useful donor-advised fund program that removes the inconveniences of giving and assists donors in expressing their individuality through their philanthropy."
About Schwab Charitable
Schwab Charitable is a national donor-advised fund with a mission to increase charitable giving nationwide. For more information, visit www.schwabcharitable.org.
Morrison Shafroth, 720-470-3653