Schwab Charitable Lowers Grant Minimum to $50 to Encourage and Support Donors’ Charitable Efforts

National Donor-Advised Fund Lowers Grant Minimum by Fifty Percent Ahead of Annual Charitable Giving Season

Wednesday, October 19, 2011 7:00 am PDT

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SAN FRANCISCO

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NYSE:
SCHW
"Donor-advised funds have a demonstrated track record of being important vehicles for sustaining charitable giving during difficult economic times"

SAN FRANCISCO--(BUSINESS WIRE)--Schwab Charitable, one of the nation’s largest national donor-advised fund organizations1, has announced a lowering of its individual grant minimum from $100 to $50. The grant minimum is the smallest amount that donors may recommend from their accounts to charitable organizations of their choice.

“Donor-advised funds have a demonstrated track record of being important vehicles for sustaining charitable giving during difficult economic times,” says Kim Laughton, Acting President of Schwab Charitable. “As we head into the holiday giving season, we want to support our donors’ charitable efforts by allowing them to make grant recommendations in smaller increments if they wish. This expands the usefulness of donor-advised accounts and gives our donors more flexibility to direct charitable dollars across multiple causes or over a longer period of time.”

A donor-advised fund allows individuals – small and large donors alike – to contribute cash or appreciated assets to a charitable account to realize the greatest possible tax benefits, while supporting their favorite charities. Serving a wide range of philanthropic investors, Schwab Charitable manages account sizes from $5,000 to over $400 million.

Through Schwab Charitable’s online donor center, donors can research U.S.-based charitable organizations and make grant recommendations. Grant recommendations may be personalized free of charge by using a customized grant letterhead or made anonymously if desired. Granting from Schwab Charitable accounts was up 16% during the first nine months of 2011 from the same period in 2010. This compares to an increase of less than 4% in overall charitable giving nationally for the most recent calendar year2.

“Our donors have maintained a strong level of giving, even in the face of the economic downturn,” says Laughton. “We want to continue to do everything we can to support our donors, as they maximize their charitable impact and maintain their ongoing commitment to the causes that are most important to them.”

About Schwab Charitable

Created as a national donor-advised fund with a mission to increase charitable giving nationwide, Schwab Charitable has raised over $5.4 billion and has facilitated over $2.4 billion in grants to charities on behalf of its donors since inception. Schwab Charitable was a pioneer in enabling investment advisors to manage the investments of donor-advised accounts and remains the leading provider of such professionally managed accounts. Schwab Charitable also offers a private foundation conversion service for private foundations considering donor-advised funds as a complementary or alternative charitable vehicle. Schwab Charitable’s Double Give Program allows donors to recommend that a portion of their donor-advised accounts be set aside to guarantee microfinance loans to the world's poorest entrepreneurs, while leaving donated assets in the account invested for potential growth and future granting. For more information, visit www.schwabcharitable.org.

Schwab Charitable is the name used for the combined programs and services of Schwab Charitable Fund, an independent nonprofit organization, and Schwab Charitable Trust Services, a limited liability company owned by Schwab Charitable Fund. The Fund has entered into service agreements with certain affiliates of The Charles Schwab Corporation.

©2011 Schwab Charitable Fund. All Rights Reserved.

1 Philanthropy 400 data published by the Chronicle of Philanthropy, based on net assets for the period ending June 30, 2010, collected from IRS 990 annual returns

2 Giving USA 2011: The Annual Report on Philanthropy for the year 2010

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