DAFgiving360™, formerly known as Schwab Charitable®, announced that its donors contributed more than $6.6 billion to charitable causes in fiscal year 2024, marking a 31% increase from the previous year. This milestone, achieved in the organization’s 25th year of operation, saw over 1.1 million individual grants benefiting 141,000 charities.
DAFgiving360's president, Sam Kang, highlighted the significance of this achievement, noting the dedication of their donors. “Our donors are continuing to give to charity at unprecedented levels, reflecting an exceptional commitment to supporting a diversity of needs throughout the world. We are immensely grateful for their inspiring generosity as we celebrate the 25th anniversary of our organization,” Kang said.
In a news release, the company highlighted that the rebranding from Schwab Charitable to DAFgiving360 aligns with its mission to enhance charitable giving in the United States. The new name and brand aim to better engage donors, advisors, and the broader philanthropic community by promoting donor-advised funds (DAFs) as effective tools for impactful philanthropy.
Since its inception in 1999, DAFgiving360 has facilitated over $35 billion in donations through 7 million grants to more than 255,000 charities. DAF accounts offer a straightforward, tax-efficient method for charitable giving, allowing donors to contribute cash, securities, or appreciated assets. Notably, 63% of donor contributions in fiscal year 2024 were non-cash assets, which can increase the funds available for charity by potentially eliminating capital gains tax liability.
One DAFgiving360 donor, Charles R., praised the efficiency and simplicity of the platform. “We started a DAF with Schwab Charitable nearly 15 years ago and have been extremely happy with the results on multiple levels: ease of selecting and managing dozens of contributions each year, minimization of paperwork and record-keeping, direct transfers of highly appreciated shares from our Schwab brokerage account,” he said in a press release.
DAFgiving360 highlighted it supports sustained charitable giving through innovative technology and educational resources. Donors recommended grants an average of 13 times during the fiscal year, with 35% of grants set up as automated recurring gifts. The organization’s partnership with nearly 4,000 financial advisors helps integrate charitable giving into wealth management and legacy planning.
In fiscal year 2024, DAFgiving360 donors provided grants to organizations across all 50 states, with 87% of donors supporting local causes. The top five metropolitan areas by number of grants were San Francisco, San Jose, Seattle, New York, and Atlanta. Additionally, donors recommended over $170 million in grants to organizations recommended by The Center for Disaster Philanthropy (CDP), providing relief for victims of natural and humanitarian disasters.
Fred Kaynor, managing director of relationship management, marketing and strategic partnerships at DAFgiving360, underscored the efficiency of the DAF solution. “Our DAF solution is an efficient, simple, and tax-smart giving tool that has been helping donors recommend billions of dollars in grants each year to causes and communities that rely on their support. 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,” Kaynor noted.
DAFgiving360’s commitment to making charitable giving easy and impactful continues to inspire generosity, empowering donors to make a difference in communities.
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