Schwab Charitable Fund
- Assets
- $17.2b
- Revenue
- $4.9b
- Investments
- $2.3b
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 04/1999
- Data as of
- 06/2020
- EIN
- 31-1640316
Organization Overview
Schwab Charitable Fund is located in San Francisco, CA. The organization was established in 1999. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations.
For the year ending 06/2020, Schwab Charitable Fund generated $4.9b in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 19.3% each year . All expenses for the organization totaled $3.4b during the year ending 06/2020. While expenses have increased by 22.8% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Schwab Charitable Fund has awarded 183,655 individual grants totaling $13,950,574,852. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
OPERATING A DONOR ADVISED CHARITABLE GIVING PROGRAM THAT PROVIDES USEFUL INFORMATION, UNBIASED GUIDANCE AND ADVANTAGEOUS WAYS TO GIVE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kimberly Laughton President | Officer | 40 | $712,143 |
Barbara Benware VP Oversight/risk | Officer | 40 | $456,582 |
Susan Heldman VP & Controller | Officer | 40 | $382,861 |
Fred Kaynor VP Mkt/bus Development | Officer | 40 | $368,196 |
Sam Kang VP Operations | Officer | 40 | $344,165 |
Julie Hattle Managing Director - Risk | 40 | $237,691 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Charles Schwab & Co Brokerage & Admin Services | 6/29/20 | $2,868,193 |
Baker Street Advisors Llc Asset Management | 6/29/20 | $824,575 |
Wetherby Asset Management Asset Management | 6/29/20 | $503,190 |
Charles Schwab & Co Brokerage & Admin Services | 6/29/20 | $2,868,193 |
Graystone Consulting Ltd Asset Management | 6/29/20 | $633,192 |
Jordan Park Group Llc Asset Management | 6/29/20 | $486,375 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,726,676,097 |
| Noncash contributions included in lines 1a–1f | $3,207,786,638 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,726,676,097 |
| Total Program Service Revenue | $0 |
| Investment income | $158,400,812 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,885,079,278 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,287,088,818 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $10,266,877 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,573,275 |
| Compensation of current officers, directors, key employees. | $857,914 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $9,821,874 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,977,397 |
| Payroll taxes | $928,320 |
| Fees for services: Management | $298,429 |
| Fees for services: Legal | $24,485 |
| Fees for services: Accounting | $267,115 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $20,780,366 |
| Fees for services: Other | $315,986 |
| Advertising and promotion | $2,730,362 |
| Office expenses | $574,235 |
| Information technology | $10,829,825 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $192,868 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $348,253 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $84,832 |
| All other expenses | $0 |
| Total functional expenses | $3,353,115,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $88,445 |
| Savings and temporary cash investments | $29,896,085 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,213,001 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $240,390 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,838,880,152 |
| Investments—other securities | $2,277,479,407 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,157,797,480 |
| Accounts payable and accrued expenses | $9,981,203 |
| Grants payable | $16,244,570 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $26,225,773 |
| Net assets without donor restrictions | $17,131,571,707 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $17,157,797,480 |
Grants Awarded
Over the last fiscal year, Schwab Charitable Fund has awarded $6,387,932,916 in support to 69,972 organizations.
| Grant Recipient | Amount |
|---|---|
Baltimore, MD PURPOSE: EDUCATION | $404,766,718 |
Baltimore, MD PURPOSE: EDUCATION | $404,766,718 |
Indianapolis, IN PURPOSE: PUBLIC, SOCIETAL BENEFIT | $103,864,250 |
Indianapolis, IN PURPOSE: PUBLIC, SOCIETAL BENEFIT | $103,864,250 |
San Francisco, CA PURPOSE: EDUCATION | $50,667,647 |
San Francisco, CA PURPOSE: EDUCATION | $50,667,647 |
Grants Recieved
Over the last fiscal year, we have identified 24 grants that Schwab Charitable Fund has recieved totaling $10,274,679.
| Awarding Organization | Amount |
|---|---|
Rancho Santa Fe Foundation Rancho Santa Fe, CA PURPOSE: FUND CLOSURE & TRANSFER | $2,424,185 |
Raymond James Charitable Endowment Fund St Petersburg, FL PURPOSE: GENERAL USE AND/OR SPECIAL FUND/PROJECT | $2,402,568 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $1,184,126 |
Akron Community Foundation Akron, OH PURPOSE: FOR THE THREE TREES FUND, A DONOR-ADVISED FUND, SCHWAB CHARITABLE ACCOUNT NUMBER 4443-9867 | $773,827 |
Moscicki Family Foundation Inc Newton, MA PURPOSE: CHARITABLE | $682,624 |
Moca Foundation Gilroy, CA PURPOSE: DISCRETIONARY GRANTS | $500,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tides Foundation San Francisco, CA | $531,362,799 | $511,078,682 |
San Francisco Foundation San Francisco, CA | $1,529,601,920 | $341,484,551 |
Fh Association Phoenix, AZ | $32,360,131 | $118,182,244 |
Tipping Point Community San Francisco, CA | $61,259,027 | $38,090,661 |
Second Harvest Of The Greater Valley Manteca, CA | $6,868,918 | $46,568,235 |
The Clear Fund Oakland, CA | $43,908,385 | $51,079,383 |
The Albertsons Companies Foundation Pleasanton, CA | $41,450,438 | $46,344,229 |
Gary Sinise Foundation Los Angeles, CA | $51,598,916 | $42,908,528 |
Community Initiatives Oakland, CA | $32,963,465 | $33,654,695 |
St Baldricks Foundation Inc Monrovia, CA | $32,038,039 | $26,306,485 |
Gofundme Org Los Altos, CA | $3,296,431 | $30,792,768 |
Fullerton Family Foundation Novato, CA | $0 | $1,583 |