Schwab Charitable donors gave a record amount last year

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.

Jan 31, 2024
10 months ago

Schwab Charitable donors hit a milestone in 2023, surpassing $6 billion in grants to charity — a 31% increase over the previous year.

Overall, donors contributed to more than 127,000 charities through more than 1 million grants from their donor-advised fund accounts. 

Among the highlights of the donations:

  • 69% of donors granted to an organization that they had not previously supported. 
  • 64% of contributions to Schwab Charitable were noncash assets, such as appreciated stock or private business interests. 
  • 35% of grants were scheduled as automated, recurring grants to provide ongoing support to donors’ charities of choice. 

"The generosity of our donors continues to inspire us year after year,” said Sam Kang, president of Schwab Charitable. “And despite recent economic uncertainty, political turmoil and market volatility, our donors demonstrated their commitment to giving back with yet another historic year of granting."

Marcus Baram
Author Marcus Baram

Marcus Baram is a contributing editor at Crain Currency, where he covers the intersection of finance and politics. Prior to joining Crain Currency, Baram was a staff writer at Fast Company and an editor at Huff Post. He has also written for outlets such as The New York Times, The Atlantic, and Vice. Baram is an expert on economic policy and has a deep understanding of the ways in which politics shapes the global financial system. In his role at Crain Currency, he brings a unique perspective to the complex and ever-evolving world of finance. With his keen analysis and clear writing, Baram helps readers make sense of the important issues impacting the economy today.