DAFgiving360, the donor-advised fund provider associated with Schwab, has reported that its donors significantly increased their giving during the 2024 fiscal year.
In total, donors recommended more than $6.6 billion in grants to charity, a 31% increase from the previous year. More than 1.1 million individual grants supported 141,000 charities.
Nearly 4,000 advisors worked with the organization, formerly known as Schwab Charitable, in fiscal 2024. That's a 15% increase from the previous year. Professional advisors managed 80% of DAFgiving360's donor account assets.
About 63% of donor contributions in fiscal year 2024 were non-cash assets, such as securities and appreciated assets.
"Contributing appreciated non-cash assets that have been held more than one year to a donor-advised fund can increase the amount available for charities by as much as 20% by potentially eliminating a donor's capital gains tax liability on the assets," DAFgiving360 said in a statement.
Donors contributed to organizations in all 50 states, including 652,000 grants to support local causes in the donors' own states.
