After 25 Years, Schwab Charitable Has a New Name

By John Manganaro

News June 21, 2024 at 01:41 PM

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Schwab Charitable on Friday announced the adoption of a new brand identity to mark its 25th anniversary.

The organization is now know as DAFgiving360, a name meant to reflect the ways that charitable giving has evolved over the decades.

Giving via donor-advised funds, or DAFs, has grown steadily over the past two decades, with donors at the former Schwab Charitable contributing a record $6 billion to their preferred charitable causes in 2023.

Donors supported over 127,000 individual charities through more than 1 million total grants, according to the organization. This marked an 11% yearly increase in the number of grants going to charities.

"We want our new name to drive awareness of DAFs so they become synonymous with giving and in doing so increase charitable giving overall," said Sam Kang, president of DAFgiving360. "Any individual who wants to make a difference can utilize a DAF, no matter the scope of their charitable intentions."

The new moniker should help ensure that the term "donor-advised fund" becomes synonymous with "giving" among the general public, Kang added. It should also help to ensure that the public understands that the organization is an independent 501(c)(3) public charity and not a for-profit financial institution.

The experience of working with DAFgiving360 will not change for donors or financial advisors, according to the announcement, and no changes are being made to account structures.

Additionally, DAFgiving360 will continue to play a direct role in the comprehensive approach to wealth planning that RIAs and Charles Schwab & Co., Inc. financial consultants can provide to clients who prioritize charitable giving.

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