Charitable Gift Accounts: The Valentine's Gift That Truly Keeps on Giving
03 February 2005 - 9:26AM
PR Newswire (US)
Charitable Gift Accounts: The Valentine's Gift That Truly Keeps on
Giving SAN FRANCISCO, Feb. 2 /PRNewswire-FirstCall/ -- Americans
have proven to be extremely generous when it comes to helping the
disadvantaged. In fact, as a percentage of GDP, Americans give more
than citizens of any other country.(1) This year, the Schwab Fund
for Charitable Giving(R) suggests a new way to commemorate
Valentine's Day -- with something more meaningful and long-lasting
than flowers. Set up a tax-deductible charitable account, or donor
advised fund, in the name of your loved one, who can then use it to
support charitable causes throughout the years. "The idea of giving
a charitable account to a loved one for Valentine's Day actually
came to us when we heard that one of our donors had opened an
account for his wife to celebrate their 25th anniversary," said Kim
Wright-Violich, president of the Schwab Fund for Charitable Giving.
"The customizable nature of these types of accounts makes it easy
for people to honor loved ones by creating a legacy of giving. For
couples, setting up a Charitable Gift Account together is the
perfect gift for those looking to make a lasting statement about
their shared commitment to a common cause." Give a certificate of
"charitable love" Beginning today through February 14, the Schwab
Fund for Charitable Giving will provide a personalized Valentine's
"Giving" Certificate to anyone who sets up a Charitable Gift
Account as a gift for a loved one. For new accounts of $25,000 or
more, the Fund will include a box of valentine's chocolates to
present along with the certificate announcing the gift. About
Charitable Gift Accounts Charitable gift accounts are vehicles set
up to help donors structure their giving and simplify their
recordkeeping within a single charitable account. Donors make an
irrevocable contribution of cash or securities to the account,
which is owned and administered by a non-profit organization.
Donations of tangible items and real estate can also be made
through a charitable intermediary. By making a contribution to
charitable gift account, the donor relinquishes ownership of the
assets but can still recommend when, to whom, and how much to grant
from the account. To find out how to arrange a Valentine's Day gift
that truly keeps on giving, contact the Schwab Fund for Charitable
Giving at 800-746-6216 or visit their website at
http://www.schwabcharitable.org/. About the Schwab Fund for
Charitable Giving The Schwab Fund for Charitable Giving is an
independent, nonprofit organization established in 1999 to offer
donor-advised funds and other philanthropic services. As of
December 31, 2004, the Fund has received $700 million in
contributions and has distributed more than $290 million to
charities. The Fund has distributed over 65,000 grants to more than
20,000 charitable organizations throughout the United States. For
more information about the Fund and the Charitable Gift Account,
please visit http://www.schwabcharitable.org/. About Charles Schwab
The Charles Schwab Corporation (NYSE:SCH) Nasdaq, through its
operating subsidiaries, provides securities brokerage and financial
services to individual investors and the independent investment
advisors who work with them. With over 7 million individual
investor accounts and more than $1 trillion in client assets, The
Charles Schwab Corporation is one of the nation's largest financial
services firms. Its subsidiary Charles Schwab & Co., Inc.
(member SIPC) provides a complete range of investment services and
products, including an extensive selection of mutual funds;
financial planning and investment advice; retirement plans;
referrals to independent fee-based investment advisors; and
custodial, operational and trading support for independent
fee-based investment advisors. Its subsidiary Charles Schwab Bank,
N.A. (member FDIC) provides banking and mortgage services and
products. The Corporation's other operating subsidiaries include
U.S. Trust Corporation (member FDIC) and CyberTrader(R), Inc.
(member SIPC) .These companies' Web sites can be reached at
http://www.schwab.com/, http://www.schwabbank.com/,
http://www.ustrust.com/, and http://www.cybertrader.com/ .
(0205-6909) (1) Source: Chronicle of Philanthropy, GIVING USA 2004.
DATASOURCE: Charles Schwab CONTACT: Sondra Harris of Charles
Schwab, +1-415-636-3292, or Web site:
http://www.schwabcharitable.org/ Web site: http://www.schwab.com/
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