Schwab Charitable is eliminating some of the consulting fees associated with the donation of complex assets to charity, Schwab announced.
The donor advised fund also is providing additional assistance for donors to make international contributions, the fund says.
Complex funds are investments that are not freely publicly traded, says Schwab, such as restricted stock; privately held shares, including C-Corp, S-Corp, and limited partnership interests; initial public offerings; real estate; private equity; and hedge fund interests.
Schwab Charitable is eliminating the basic consulting and administrative fees for complex assets donated to charity. An experienced complex gift acceptance team will coordinate the sale of the assets, deposit the cash proceeds into the donors’ account, and provide contribution receipts for tax filing purposes in a consolidated report.
Accounts with ongoing complex needs may also receive dedicated support to assist with their contributions, investing, and granting, Schwab says.
Once donors have contributed to their donor-advised fund accounts, Schwab helps those who want to give internationally through Schwab Charitable’s Global Giving Program. Donors may recommend grants to U.S. charities doing international work or they may support foreign charities directly.
The Global Giving Program provides hands-on support with the due diligence review of proposed foreign grant recipients and with granting either directly or through designated intermediary providers at specially negotiated rates, Schwab says. For grants made directly to foreign charities, Schwab Charitable works with charities and donors to meet expenditure reporting responsibilities.
“Our objective is to remove barriers to charitable giving and inspire our donors to give more,” says Kim Laughton, Schwab Charitable president.
“With these enhancements we are making both contributing complex assets and granting internationally as convenient and straightforward as possible,” Laughton adds. “We hope this will enable our donors to be even more generous and maximize the impact of their generosity.”
