DAFgiving360 donors contribute over $6.6 billion to charities

investmentnews.com:

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