Schwab Charitable Facilitated More Than $1.5 Billion in Grants in FY17

Schwab Charitable, the San Francisco-based donor-advised fund provider, has announced that it facilitated more than $1.5 billion in grants in fiscal year 2017, a 34 percent increase over the previous year. During the fiscal year that ended June 30, Schwab donors supported more than 65,000 charities and recommended nearly 310,000 grants, up 29 percent from the 240,000 grants recommended in fiscal year 2016. Roughly two-thirds of all contributions to Schwab Charitable accounts were non-cash assets. Contributing an appreciated investment or asset held for more than a year to a public charity such as Schwab Charitable generally allows donors to avoid capital gains taxes on the sale of those assets, increasing the funds available to them to give by as much as 20 percent.