Members of Schwab Charitable, a donor-advised fund, gave $2 million to the victims of the two earthquakes in Nepal that left thousands dead last spring and are actively giving to the Syrian refugee crisis, according to Schwab’s first Annual Giving Report.
The report is designed as a guide for those considering setting up a donor advised fund, as well as a resource for advisors and charities, Schwab says.
The number of Schwab Charitable grants made in fiscal year 2015 increased by 29 percent to more than $1 billion to 42,000 charities, the report says. The most widely supported charities were local food banks in the Feeding America network, Doctors Without Borders, the Salvation Army and the Red Cross.
Some 1,400 financial advisory firms have clients who are invested in Schwab Charitable. The largest percentages of donations go to health and human services, 28 percent; religion, 25 percent; and education, 16 percent.
“It is inspiring to see that Schwab Charitable account holders are both active in their local communities and engaged global citizens,” said Kim Laughton, president of Schwab Charitable. “With the U.S. poverty rate near its 20-year peak, Schwab Charitable donors are helping local food banks to fight hunger. At the same time, they are supporting relief efforts in response to recent international disasters.”
Sixty-eight percent of the contributions to Schwab Charitable accounts in fiscal year 2015 were appreciated investments and assets, including publicly traded stock, restricted stock, real estate, interests in private businesses, private equity, venture capital and hedge funds, the report says.