Schwab Charitable’s Assets, Grants Set Records in FY12

DAF sponsor expands investment solutions for donors and their advisors

Schwab Charitable reported this week that its charitable assets under management rose to a record $3.2 billion in the 2012 fiscal year ended June 30, an increase of 3.6% over the previous year.

Schwab logoNearly two-thirds of contributions were in the form of non-cash assets, including appreciated stock, the donor-advised fund sponsor said.

In addition, grants to charities recommended by donors rose by nearly 4% to $524 million, also a record.

Since its inception in 1999, Schwab Charitable has made more than $3 billion in grants, benefiting some 62,000 charitable groups.

Schwab said that it is adding a Short-Term Income Pool, based on the diversified Principal Short-Term Income Fund (PSHIX), to the investment solutions available to donors and their investment advisors. It is also making changes to the underlying mutual funds for five of its existing investment pools later this summer.

The new pool and underlying funds are intended to enhance diversification and provide donors with exposure to additional asset classes and strategies, Schwab said.

Schwab Charitable’s investment pools will include:

  • Four asset allocation pools for donors wanting for a diversified investment strategy with one investment choice
  • Nine individual asset class pools for donors looking for a customized investment strategy

Schwab also announced improvements to the online interface that allow investment advisors to manage their clients’ charitable accounts using Schwab Advisor Center, the same platform they use to manage other accounts.

The improvements include the addition of online forms and applications, enhanced views of clients’ contribution history and details regarding grant activity.

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