The wealthy have really done their best to show out for charities this year! It’s barely past summertime and there’s one organization that made a giant difference already. By the end of June this year, Schwab Charitable donated over $5B in large charitable grants during their fiscal year. That’s a very impressive number itself, but even more so when it came in such a short period of time. As one of the largest charitable organizations providing donor advised funds among other services, it’s great to see this level of contribution. Let’s see what kinds of charities benefited from this exceptional level of donations from many different people.
Donors with Schwab Charitable were able to donate a record breaking number to many organizations. Donors who helped get to this number understand the various needs of different charities, so they spread the wealth among many. Because of that, over half of the donations received by Schwab are not set to a specific cause. Rather, the Charitable itself decides where the funding goes depending on what needs are most pertinent. Many of the donors specify what charities they would like donations to go to with a lot of options going to local communities.
Over 200,000 charities benefit from Schwab Charitable donors every year. With such a large number of donations to so many charities, almost every kind of organization can be helped with Schwab donations. While the list is long, you can rest assured that there have been many environmental, financial, and social contributions made from generous individuals. Any time your local community receives a large anonymous donation, you can wonder if it came from someone with Schwab Charitables. There are thousands of people who give through the Charitable so you may have seen some of the good they’ve done directly in your own community.
This year, many of the contributions made to Schwab came in non-cash forms. In addition to donating funds, donors also chose to give stocks that will appreciate over time. Some have donated private business interests to go to good causes. Schwab Charitable gives advice and many options that inspire so many individuals to donate. Their goals align with a lot of people who enjoy giving contributions to charity, and they make it very easy to do. In the upcoming year, we will likely see similar contributions made to many organizations. Their hope is to top 2023 even though it was their most generous year so far.