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Stock Rebound Helps Schwab Fund Contributions

By Staff Writer

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NU Online News Service, Dec. 18, 2003, 9:45 a.m. EST – The Schwab Fund for Charitable Giving, San Francisco, a donor-advised charitable fund, says the recent rebound in stock prices has helped increase contributions to its charitable gift accounts program.[@@]

Contributions for the period that starts July 1 and ends Nov. 30 were up 115% from contributions made during the comparable period in 2002, the Schwab Fund reports.

The Charles Schwab Corp., San Francisco, set up the Schwab Fund to give affluent and wealthy clients an alternative to setting up private foundations. The program has received $425 million in contributions and distributed more than $188 million to charities.