Schwab Donor-Advised Fund Clients Gave $1 Billion to Charity in FY2015

Clients of Schwab Charitable, a donor-advised fund provider, made upward of $1 billion in grants to 42,000 nonprofit organizations in fiscal 2015, ended June 30, an increase of 29% over the previous fiscal year.

In its first annual giving report, released Wednesday, Schwab said its clients had contributed $2 billion to their accounts in FY2015, 68% in appreciated assets and 32% in cash.

Schwab said that because many charities cannot process noncash gifts, it accepts many types of appreciated assets, among them interests in private businesses and in private equity, venture capital and hedge funds, then sells the assets and puts the cash proceeds in the donor's account and provides contribution receipts for tax filings.

According to the report, 28% of grants went to the health and human services sector, 25% to religious groups and 16% to education.

Donors contributed a smaller percentage to social services and benefits; art, culture and humanities; environment and animals; and international and foreign affairs.

"With the U.S. poverty rate near its 20-year peak, Schwab Charitable donors are helping local food banks to fight hunger," the organization's president Kim Laughton said in a statement.

"At the same time, they are supporting relief efforts in response to recent international disasters, such as the Nepal earthquake and the refugee crisis in Europe, that provide critical services such as medical care, shelter, food, and clothing to those in need."

Schwab earlier reported that its clients had donated more than $2 million to the Nepal relief effort in FY2015.

Following are the 10 charities most supported by donor grants in FY2015: