Schwab Charitable, the San Francisco-based provider of donor-advised funds, has announced that it facilitated more than 700,000 grants totaling $3.3 billion in fiscal year 2020 — a 33 percent year-over-year increase — including nearly 28,000 grants totaling $145 million in support of COVID-19 response and relief efforts. 

Schwab Charitable account holders supported 103,000 charities in the fiscal year ending June 30, a 24 percent increase in the number of grants and a 14 percent increase in the number of charities on a year-over-year basis. According to the DAF sponsor, 64 percent of the contributions made from its accounts in FY20 were in the form of appreciated non-cash assets, including publicly traded securities, restricted stock, and privately held business interests. The public charity also reported that the number of grants made from a mobile device in FY20 jumped 24 percent, while the sectors attracting the most support were religion, human services, education, and health. The top grant recipients were Feeding America, Planned Parenthood, Doctors Without Borders, the Salvation Army, and Campus Crusade for Christ.

In addition, the organization reported that over the first six months of 2020, account holders recommended more than 330,000 grants totaling $1.7 billion — a record year-over-year increase of 44 percent in the number of grants and 46 percent in dollars granted. Between mid-February and the end of June, Schwab account holders recommended nearly 28,000 grants in support of COVID-19 response and relief efforts, awarding $145 million to some 7,500 charities, including those recommended by the Center for Disaster Philanthropy, which saw a 250 percent year-over-year jump in grant dollars from Schwab Charitable account holders.

"Our donors' unwavering support for charities year after year is remarkable, and this year I'm especially proud that they have met these extraordinary times with even more generosity to support those who need it most," said Schwab Charitable president Kim Laughton. "The last six months have been incredibly challenging, and I am truly inspired to see donors utilize their donor-advised funds to help communities and nonprofits impacted by health, economic, and social crises."