Schwab Charitable, the San Francisco-based supplier of donor-advised funds, has introduced that it facilitated 855,000 grants totaling $3.7 billion in fiscal 12 months 2021 — a 13 % year-over-year enhance in whole funding awarded to charities.
In all, Schwab Charitable account holders supported greater than 113,000 charities throughout all fifty states and boosted the variety of grants by 24 % in comparison with the earlier all-time highs set in fiscal 12 months 2020. The group additionally famous a 48 % enhance within the variety of grants that weren’t designated for a particular function, and an general enhance in awards pushed by know-how, as 79 % of grants in FY2021 had been dealt with by an automatic evaluation and approval course of. As well as, roughly 60 % of contributions to Schwab Charitable in FY 2021 had been within the type of non-cash belongings, together with publicly traded securities, restricted inventory, and personal enterprise pursuits.
“Schwab Charitable donors demonstrated extraordinary generosity throughout a very troublesome twelve months,” stated Schwab Charitable president Sam Kang. “I’m happy with our efforts to assist enhance their giving energy at a time when charitable giving has by no means been extra essential. We’re dedicated to offering donors and their monetary advisors with probably the most environment friendly, tax-smart charitable giving answer whereas serving to them discover new and impactful methods to realize their philanthropic objectives.”
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