Schwab Charitable has announced that its donor-advised funds awarded grants totaling more than $1 billion to forty-two thousand charities in the fiscal year that ended June 30, 2015.
According to the fund's first Annual Giving Report (6 pages, PDF), contributions to its 26,000 DAF accounts totaled $2 billion in fiscal year 2015, while the number of grants awarded jumped 29 percent from the previous year, to 205,000. The organization receiving the largest number of grants was Feeding America, followed by Doctors Without Borders/Médecins Sans Frontières, the Salvation Army, the American Red Cross, and Planned Parenthood. In terms of issue areas, health and human services received the largest number of grants (28 percent), followed by religion (25 percent), education (16 percent), social services (10 percent), and arts and culture (8 percent).
"It is inspiring to see that [our] account holders are both active in their local communities and engaged global citizens," said Schwab Charitable president Kim Laughton. "With the U.S. poverty rate near its twenty-year peak, Schwab Charitable donors are helping local foodbanks to fight hunger. 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."