Schwab Charitable, a national provider of donor-advised funds (DAFs), has announced that it facilitated grants totaling $6.1 billion to charities in 2023—a 31 percent year-over-year increase—the first time Schwab donors awarded more than $6 billion during a 12-month period.

In all, Schwab donors supported over 127,000 charities through more than one million grants—an 11 percent increase in the number of grants to charities compared to 2022. Grants include more than $124 million to charities recommended by the Center for Disaster Philanthropy (CDP) to assist those affected by natural and humanitarian crises. In addition, 69 percent of existing donors in 2023 awarded a grant to an organization they had not previously supported, and 87 percent of donors made grants within their home state.

“The generosity of our donors continues to inspire us year after year,” said Schwab Charitable president Sam Kang. “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. As we enter Schwab Charitable’s 25th year, we are proud to see donors continuing to give at record levels and are eager to see the impact they will accomplish this year.”

(Photo credit: Getty Images/Donald Gruener)