At Schwab-Linked DAF Provider, Grants Surge 31% in 2024

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.

The five metro areas receiving the most grants were San Francisco, San Jose, Seattle, New York and Atlanta, the group reported. Seventy-two percent of grants in the fiscal year did not specify a purpose, allowing organizations to use the money as needed.

“When you look at all the grants our donors recommended in the last fiscal year, it averages out to more than $18 million donated to charity each day, or about three-quarters of a million dollars donated every hour,” Fred Kaynor, managing director of relationship management, marketing and strategic partnerships at DAFgiving360, said in a statement.

“Because assets are already contributed to donors’ accounts, and because of our efficient DAF interface, it takes just a few clicks to get dollars out to charity when it’s needed most.”

Credit: Adobe Stock

— With assistance from Edisource.