Schwab Charitable Makes International Giving Easier and More Cost Effective

  Schwab Charitable Makes International Giving Easier and More Cost Effective

National Donor-Advised Fund enhances Global Giving Program to offer direct
donations to international charities for roughly one-third of the usual cost

Business Wire

SAN FRANCISCO -- March 12, 2013

Today Schwab Charitable, one of the nation's largest national donor-advised
funds, announced enhancements to its Global Giving Program that will
streamline and simplify international giving for its clients. Schwab
Charitable is the first national donor-advised fund to partner with NGOsource,
a new legal service that assesses whether a foreign grantee can be considered
the equivalent of a U.S.-public charity and qualify for tax-deductible
donations. This equivalency determination process has the added benefit of
ensuring that the international charity conforms to acceptable legal,
financial and operating standards.

Kim Laughton, president of Schwab Charitable. (Photo: Business Wire)

Kim Laughton, president of Schwab Charitable. (Photo: Business Wire)

According to NGOsource, the cost of using outside legal counsel for a single
equivalency determination can range from $5,000 to $10,000*. The collaboration
between Schwab Charitable and NGOsource will reduce this cost by more than 70%
for Schwab Charitable clients.

"We are pleased to offer this resource to make the process of direct
international giving more widely available," said Kim Laughton, president,
Schwab Charitable. “This goes hand in hand with our commitment to make giving
simpler and more cost effective for our clients.”

Opportunity for advisors: help clients with their granting strategy

As international giving continues to rise in popularity, more donors are
incorporating international charities into their granting strategy.
Conversations about charitable giving can tend to be highly personal and are a
good way for advisors to build deeper relationships with their clients.

“This is another great tool to help my clients who are particularly interested
in giving to international organizations to help them achieve their
philanthropic goals,” said Jeff Colin, founder and partner at Baker Street
Advisors, a San Francisco-based wealth management firm.

Schwab Charitable works with over 1,000 registered investment advisors (RIAs)
to meet the charitable giving needs of their clients. Advisors are able to use
the same technology platform (SchwabAdvisorCenter.com) to oversee charitable
accounts as they do for other accounts at Schwab.

About Schwab Charitable

Created as a national donor-advised fund with a mission to increase charitable
giving nationwide, Schwab Charitable has received over $7 billion in
contributions and has facilitated over $3 billion in grants to charities on
behalf of its donors since inception. Serving a wide range of philanthropic
investors, account sizes range from $5,000 to more than $500 million. Schwab
Charitable has been a pioneer in enabling investment advisors to manage the
investments of donor-advised accounts and remains a leading provider of such
professionally managed accounts. Schwab Charitable also offers a private
foundation conversion service for private foundations considering
donor-advised funds as a complementary or alternative charitable vehicle. For
more information, visit schwabcharitable.org.

*www.ngosource.org

Professionally-managed accounts are available only through independent
investment advisors working with Schwab Advisor Services(TM), a business
segment of The Charles Schwab Corporation serving independent investment
advisors and includes the custody, trading and support services of Charles
Schwab & Co., Inc.

While donors may recommend an advisor, the Fund must approve the
recommendation. Advisors must meet certain eligibility requirements and adhere
to Fund fee and investment guidelines. You may request a copy of the
investment guidelines by calling us at (800) 746-6216.

Schwab Charitable is the name used for the combined programs and services of
Schwab Charitable Fund, an independent nonprofit organization. The Fund has
entered into service agreements with certain affiliates of The Charles Schwab
Corporation.

(C) 2013 Schwab Charitable Fund. All Rights Reserved. (0213-1770)

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Contact:

The Neibart Group for Schwab Charitable Fund
Natalia Krepak, 718-875-7269
nkrepak@neibartgroup.com
 
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