Schwab Charitable Celebrates 25 Years of Donor Advised Giving with New Brand
June 21 2024 - 9:00AM
Business Wire
Organization moves forward as DAFgiving360™ and
will use its brand to elevate the donor-advised fund category and
awareness of its DAF solutions
Schwab Charitable®, one of the largest national providers of
donor-advised funds (DAFs), announced today it has renamed the
organization DAFgiving360 and will unveil a new brand in concert
with its 25th anniversary.
Aligned with DAFgiving360’s unchanged mission – to increase
giving in the U.S. – the new brand is intended to engage donors,
their advisors, charities, and the philanthropic community. As part
of this engagement, it will seek to:
- Use DAFgiving360 to help make donor-advised funds synonymous
with giving, so that every individual considers this simple,
tax-smart, and efficient solution when they think about making
charitable donations.
- Help donors and their advisors understand who DAFgiving360 is
(an independent 501(c)(3) public charity) and what it provides, so
that they can leverage a donor-advised fund solution to help
maximize individual giving as part of their financial
planning.
- Highlight DAFgiving360’s continued commitment to providing a
holistic giving solution, centered around DAFs, for current donors,
advisors, and future generations of philanthropists.
Giving via DAFs has grown from approximately 5% to over 25% of
individual giving in the U.S. over the past 10 years1 as
individuals and their financial advisors have embraced DAFs to
maximize philanthropic impact with a thoughtful, strategic approach
to charitable giving.
While the brand and name of the organization will be new, the
experience of working with DAFgiving360 will not change for donors
or financial advisors, and no changes are being made to account
structures. DAFgiving360 is committed to making giving as easy and
efficient as possible through the continued enhancement of platform
capabilities and educational offerings that will help donors create
a holistic giving plan that is incorporated into their broader
wealth and legacy planning.
DAFgiving360 will continue to play a critical role in the
comprehensive approach to wealth planning that RIAs and Charles
Schwab & Co., Inc. financial consultants can provide to clients
who prioritize charitable giving.
“We are proud to celebrate the milestone of our 25th anniversary
and the impact our generous donors have had, while looking ahead to
how we can grow and evolve our platform to meet the needs of new
generations of donors,” said Sam Kang, President of DAFgiving360.
“Any individual who wants to make a difference can utilize a DAF,
no matter the scope of their charitable intentions. We want our new
name to drive awareness of DAFs so they become synonymous with
giving and in doing so increase charitable giving overall.”
Over the past 25 years, DAFgiving360 donors have granted more
than $33 billion to nearly 250,000 charities. In 2023 alone, its
donors granted a record $6 billion to charities through more than
one million individual grants. As this momentum continues to build,
fueled by the generational wealth transfer, new drivers of wealth
creation, and the growing interest in making a meaningful impact,
DAFgiving360 is positioning itself to meet the evolving needs of
donors over the next 25 years and beyond.
Maximizing Charitable Giving with a DAF
A donor-advised fund (DAF) is a simple, tax-smart solution for
charitable giving. Once a donor makes an irrevocable contribution
of cash, appreciated assets, or investments, they can recommend
grants to eligible charities immediately or recommend investments,
which potentially grow tax-free to support giving over the
long-term. Donors can recommend grants to qualified U.S. public
charities of their choice at any time. There is no minimum
contribution requirement to open an account with DAFgiving360, and
the organization currently supports donors with a wide variety of
giving goals, approaches, and account sizes.
DAFs provide a consistent source of funding for charitable
needs, as contributions have been set aside for charity and can be
used for granting even during the most turbulent, economically
uncertain times when there is often a heightened need for
charitable support. The generosity of each donor plays a unique
role in shaping a better world, and DAFgiving360 is committed to
making charitable giving an accessible, integral, and effortless
part of financial planning for everyone.
Visit our website for frequently asked questions.
About DAFgiving360, formerly Schwab Charitable
DAFgiving360’s mission is to increase giving in the U.S. with
donor-advised funds and philanthropic resources that make
charitable giving tax-smart, simple, and efficient.
We offer tools, guidance and relationships that empower donors
to incorporate charitable planning into their everyday lives and
make a bigger difference in the world. Since our founding in 1999
as an independent 501(c)(3) public charity, DAFgiving360 donors
have granted more than $33 billion to more than 246,000 charities.
DAFgiving360 is a brand name for Donor Advised Charitable Giving,
Inc. Visit SchwabCharitable.org for more information.
Effective June 18, 2024, Schwab Charitable Fund (Schwab
Charitable®) is now Donor Advised Charitable Giving, Inc.
(DAFgiving360™). Updates to reflect this change are ongoing.
References to Schwab Charitable on our website, publications and
forms mean DAFgiving360.
DAFgiving360, formerly known as Schwab Charitable, is an
independent nonprofit organization which has entered into service
agreements with certain subsidiaries of The Charles Schwab
Corporation. DAFgiving360 is a tax-exempt public charity as
described in Sections 501(c)(3), 509(a)(1), and 170(b)(1)(A)(vi) of
the Internal Revenue Code.
©2024 Donor Advised Charitable Giving, Inc. All rights reserved.
(0524-3T5B)
__________________________ 1 National Philanthropic Trust, The
2023 DAF Report. Giving USA 2023, The Annual Report on Philanthropy
for the Year 2022.
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Morgan Miller | TNG DAFgiving360@neibartgroup.com