Schwab Charitable has reported that for fiscal year 2014, individuals granted out $822 million to more than 34,500 charities, an increase of 38 percent from a year earlier.

“Our donors have absorbed the new tax policies that took effect in 2013 and they are encouraged by an improving economy and a strong stock market,” said Kim Laughton, president of Schwab Charitable. “As a result, they are increasing their giving and supporting a wide range of causes.”

Schwab also reported an increase in assets under management, to $6.4 billion from $4.8 billion the previous year.

The firm is also adding a new Income Index Pool this August, which will expand to 14 the investment options available to donors. The underlying mutual fund for the Income Index Pool is the Dreyfus Bond Market Index Basic (DBIRX), which was chosen for its strong historical performance and low operating expenses, says Schwab.

In addition, the number of charitable accounts grew 17 percent this fiscal year. According to the 2014 Independent Advisor Outlook from Charles Schwab, charitable planning is one of the top three services offered by RIAs. It falls just behind long-term financial planning and advice on employee-sponsored retirement accounts