New Accounts at Schwab Charitable up 91%
Schwab Charitable™ facilitated more than $1.6 billion in grants to 71,000 charities in 2017, up 35% from 2016.
Over 70% of contributions into Schwab Charitable accounts were highly appreciated, non-cash assets such as publicly-traded securities, restricted stock and real estate.
Charitable giving peaked in the second half of the year as equity and real estate prices reached all-time highs, and the tax bill moved through Congress to the President’s desk. From July through December, the number of new accounts opened at Schwab Charitable jumped 91% compared to the same period in 2016. In the same timeframe, Schwab Charitable donors recommended approximately 230,000 grants representing over $900 million. There were over $20 million in grants for crisis relief efforts in response to a record number of natural disasters, including major hurricanes, earthquakes and the California wildfires.