Schwab Charitable Donor-Advised Funds Distributed $2.7 Billion in 2019

Schwab Charitable account-holders directed more than $2.7 billion to charity in 2019, according to an announcement from the donor-advised fund sponsor, 26 percent more than in 2018.

Schwab Charitable’s $2.7 billion in grants, a new calendar-year record for the nonprofit, came in the form of more than 600,000 grants to 89,400 charities.

In the announcement, Schwab officials credited a strong stock market for the donor generosity and noted 69 percent of contributions to Schwab’s donor-advised funds were noncash assets such as securities. Schwab Charitable officials said the most common types of nonprofit causes supported, by number of grants, were religious charities, which received 26 percent of grant activity, followed by human services at 15 percent and education at 14 percent.

Also notable: Schwab Charitable said it saw a 54 percent year-over-year increase in the number of grants made from mobile devices.