Philanthropic Service Provider Sees 30 Percent Increase in Donations in
2006
SAN FRANCISCO, March 12 /PRNewswire-FirstCall/ -- Schwab Charitable,
one of the country's largest and fastest growing nonprofits, announced
total contributions to its national donor-advised fund have exceeded $2
billion since its inception. Created in 1999, Schwab Charitable Fund(TM)
achieved the milestone as it ended its most productive year for charitable
contributions. In 2006, the Fund received more than $682 million in
donations, a jump of close to 30 percent from 2005.
Grants from Schwab Charitable increased by over 90% in 2006, delivering
more than $238 million to over 15,000 charities throughout the country
during the year. Grants since inception total more than $655 million.
Schwab Charitable currently has approximately $1.4 billion in assets
waiting to be granted.
"Our donors gave very generously in 2006," said Kim Wright-Violich,
president of Schwab Charitable. "With the stock market performing well, and
a softened real estate market in most parts of the country, many donors
chose to lock in sizeable charitable deductions while also avoiding
potentially large capital gains taxes."
Wright-Violich attributes much of Schwab Charitable's success to
Charitable Asset Management -- a philanthropic option that allows high net
worth individuals to nominate an independent investment advisor to manage
their donated funds. Donors with Charitable Gift Accounts of at least
$250,000 can have an independent advisor manage account assets, which can
be invested in a wide range of investment vehicles, including individual
stocks, bonds, and other securities. Schwab Charitable Fund was the first
leading national donor-advised fund to offer this capability.
"Our new Charitable Trust Services, launched late in the year, has also
attracted the attention of philanthropists who are looking to generate
dependable income for life while setting aside a future charitable donation
from a Charitable Remainder Trust," said Wright-Violich. "The combination
of our Charitable Trust Services and Charitable Asset Management offerings
makes Schwab Charitable an effective philanthropic partner for independent
investment advisors and the affluent clients they serve."
For more information about Schwab Charitable, Charitable Asset
Management and Charitable Trust Services, visit
http://www.schwabcharitable.org.
About Schwab Charitable
Schwab Charitable(TM) is the name used for the combined programs and
services of the Schwab Charitable Fund(TM) and Charitable Trust Services.
Schwab Charitable Fund is the operating name of the Schwab Fund for
Charitable Giving(R), an independent nonprofit organization. Schwab
Charitable Trust Services is a limited liability company owned by the
Schwab Fund for Charitable Giving that provides trustee services for
charitable trusts. The Schwab Fund for Charitable Giving has entered into
service agreements with certain affiliates of The Charles Schwab
Corporation (Charles Schwab & Co., Inc. and Charles Schwab Investment
Management, Inc.). It is an independent nonprofit organization. (0307-5626)
SOURCE Charles Schwab
 back to top
Related links:
http://www.schwab.com/
CONTACT:
Lara Edge, Charles Schwab, +1-415-636-3292,
or Lara.edge@schwab.com
|
