Schwab Charitable, one of the largest national donor-advised funds, is entering 2014 with momentum on its side.
Schwab announced Monday it reported $742 million in donations to charities for 2013, a 36% increase compared to 2012 and its largest percentage jump in more than five years.
Grants to charities ranged in size from $50 to $10 million and went to more than 41,000 charities spanning a wide range of causes. The largest charitable sectors supported include education, health and human services, social benefit and religion with substantial increases seen across all sectors.
A strong stock market provided a double boost to giving in 2013," Kim Laughton, president of Schwab Charitable, says. "Many of our clients had more windfalls from appreciated assets in their portfolios to share with their favorite charities. In addition, the value of the investments in their donor-advised accounts also grew, making more funds available for granting."
Schwab saw a surge in clients donating to charities during the fourth quarter with the value of grants up 53% and the number of grants up 37% over the same period during 2012. The strong 2013 performance pushed Schwab Charitable past the $4 billion mark in grants to charities.
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