The Schwab Charitable Global Giving Program announced today that it has partnered with NGOsource in an effort to reduce the cost of international giving for its clients.

NGOsource is a legal service that assesses whether a foreign grantee can be considered the equivalent of a U.S.-public charity and qualify for tax-deductible donations. This process has the added benefit of ensuring that the international charity conforms to acceptable legal, financial and operating standards, according to Schwab.

"We are pleased to offer this resource to make the process of direct international giving more widely available," said Kim Laughton, president, Schwab Charitable.

Legal costs for an equivalency determination typically range from $5,000 to $10,000, according to NGOsource. This collaboration will reduce that cost by more than 70 percent for Schwab Charitable clients. according to the firm.

Created as a national donor-advised fund, Schwab Charitable works with over 1,000-registered investment advisors to meet the charitable giving needs of their clients. Schwab Charitable has received over $7 billion in contributions and has facilitated over $3 billion in grants to charities on behalf of its donors since inception.