Schwab Charitable Facilitated $1.6 Billion in Grants in 2017

Schwab Charitable, the San Francisco-based donor-advised fund provider, has announced that it facilitated more than $1.6 billion in grants in 2017, up from $1.5 billion in 2016.In 2017, Schwab donors recommended approximately 368,000 grants — a year-over-year increase of 35 percent — to 71,000 charities, representing an increase of 16.4 percent. Buoyed by a strong stock market and the likelihood of new tax legislation, the second half of the year saw a 91 percent jump in the number of new accounts created. Around three-fifths of the grants (230,000) and grant dollars ($900 million) awarded were recommended between July and December, including more than $20 million in grants for disaster relief in response to a record number of natural disasters. Schwab Charitable donors also responded to the changing political environment and the needs of America's most vulnerable citizens in 2017, with Feeding America, the American Red Cross, Planned Parenthood, the Salvation Army, and Doctors Without Borders figuring among the most widely supported charities.