Schwab Charitable Fund
DBA: DAFGIVING360 (TM)
INCREASE CHARITABLE GIVING IN THE UNITED STATES OF AMERICA.
IRS Tax Year 2023
Period ending June 30, 2024
Total Revenue
$9.7B
Total Expenses
$6.7B
Net Assets
$41.0B
Employees
194
Grants Paid
$6.6B
Program Expense Ratio
99.7%
Fundraising Efficiency
79881.1%
This nonprofit profile presents IRS Form 990 tax filing data for Schwab Charitable Fund (EIN: 31-1640316), based on the 2023 tax year annual return filed with the Internal Revenue Service.
Sections below include financial summaries (revenue, expenses, and net assets), program accomplishments, officer and key employee compensation, detailed executive pay breakdowns, top independent contractors, governance policies and audit information. All figures are reported in USD as filed.
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Financial Health
Transparency
Compensation
Program Effectiveness
Financial Stability
Risk Flags
Indicators derived from IRS Form 990 data. Not financial advice.
Schwab Charitable Fund is a 501(c)(3) nonprofit headquartered in LONE TREE, CO, founded in 1999. The organization has held tax-exempt status since 1999. In its 2023 filing, the organization reported $9.7B in total revenue, a 26.3% increase from the prior year, and $6.7B in total expenses. The organization employed 194 people. SAMUEL W KANG, PRESIDENT, is the highest-compensated individual at $914,841. The organization runs 1 program, totaling $6.7B in program expenses. 6 of 6 recommended governance policies are in place.
Schwab Charitable Fund is classified under NTEE code T300. Its foundation type is 15.
Programs(Tax Year 2023)
1 record
Schwab Charitable Fund operates 1 program, with total program expenses of $6.7B. Schwab Charitable Fund's largest program accounts for 100% of total program spending.
SEE SCHEDULE O
Financial Overview(Tax Years 2019–2023)
5 records
Over the past 5 years, Schwab Charitable Fund's revenue has grown from $4.9B to $9.7B, a 97.8% increase. Program expenses represent 100% of total spending.
Revenue increased 26.3% year-over-year, while expenses grew 30.7%. net assets rose to $41.0B, up 30.0% from the prior year. the organization added 9 employees.
Schwab Charitable Fund derives 96% from contributions and grants, with 4% from investment income.
Revenue is heavily concentrated: 96% comes from contributions and grants, indicating limited diversification.
Schwab Charitable Fund allocates 100% to programs, 0% to management and general, 0% to fundraising.
Revenue grew by 26.3% and expenses grew by 30.7% year over year.
Schwab Charitable Fund distributed $6.6B in grants to other organizations and individuals, representing 98% of total expenses.
Over 5 filings from 2019–2023, Schwab Charitable Fund grew revenue from $4.9B to $9.7B (+97.8%) while maintaining a program expense ratio of 100%.
Schwab Charitable Fund holds $41.1B in total assets against $64.4M in liabilities (debt-to-asset ratio of 0%). The organization has 73.0 months of operating reserves. Cash and equivalents of $216K cover approximately 0.0 months of expenses.
Revenue
| Year | Total Revenue | Contributions | Gov't Grants | Program Revenue | Investment |
|---|---|---|---|---|---|
| 2023 | $9.7B | $9.3B | $0 | $0 | $347.7M |
| 2022 | $7.7B | $7.3B | $0 | $0 | $332.0M |
| 2021 | $10.1B | $9.8B | $0 | $0 | $318.4M |
| 2020 | $7.3B | $7.1B | $0 | $0 | $145.1M |
| 2019 | $4.9B | $4.7B | $0 | $0 | $158.4M |
Expenses
| Year | Total Expenses | Program | Management | Fundraising | Grants Paid |
|---|---|---|---|---|---|
| 2023 | $6.7B | $6.7B | $7.5M | $11.7M | $6.6B |
| 2022 | $5.2B | $5.1B | $6.3M | $10.5M | $5.1B |
| 2021 | $4.8B | $4.8B | $5.2M | $5.9M | $4.7B |
| 2020 | $3.8B | $3.8B | $5.1M | $6.3M | $3.7B |
| 2019 | $3.4B | $3.3B | $4.1M | $5.8M | $3.3B |
Program Expense Ratio
99.7%
Admin Expense Ratio
0.1%
Fundraising Efficiency
79881.1%
Operating Reserve
73.0 mo
People & Compensation(Tax Year 2023)
21 records
Schwab Charitable Fund reported compensation for 21 officers and key employees. Total officer compensation was $5.3M, representing 0.1% of total expenses. 4 individuals received total compensation exceeding $500,000.
Schwab Charitable Fund's highest-compensated individual received $915K in total compensation. Total officer compensation of $5.3M represents 0.1% of total expenses. 4 individuals received total compensation exceeding $500,000.
| Name | Title | Type | Hours/wk | Comp from Org | Related Orgs | Total |
|---|---|---|---|---|---|---|
| SAMUEL W KANG | PRESIDENT | Officer | 40.00 | $696,337 | $0 | $914,841 |
| FREDERICK K KAYNOR | MD-BUS DEV, MKTG & STRAT PARTNER | Officer | 40.00 | $475,126 | $0 | $593,630 |
| MICHAEL MAESTAS | MD-INVEST OVERSIGHT & DUE DILIGENCE | Officer | 40.00 | $425,213 | $0 | $543,717 |
| DOUGLAS CAMPBELL | MD-STRATEGY, OFFER MGMT & ANALYSIS | Officer | 40.00 | $411,135 | $0 | $529,639 |
| STEPHANIE QUEISERT | MD-CHIEF FINANCIAL OFFICER | Officer | 40.00 | $393,731 | $0 | $492,235 |
| BRYAN GREGSTON | DIRECTOR | Highest Comp | 40.00 | $333,433 | $0 | $431,937 |
| CALEB LUND | DIRECTOR | Highest Comp | 40.00 | $332,774 | $0 | $396,278 |
| LORI KIRKLAND | DIRECTOR | Highest Comp | 40.00 | $317,686 | $0 | $386,190 |
| ANTHONY MATTHEWS | DIRECTOR | Highest Comp | 40.00 | $297,425 | $0 | $365,929 |
| JULIA REED | DIRECTOR | Highest Comp | 40.00 | $283,705 | $0 | $352,209 |
| LORRIE BRANSON | ASST. CORP. SECRETARY | Officer | 40.00 | $229,176 | $0 | $282,680 |
| RICK WURSTER | BOARD CHAIR | Director | 1.00 | $0 | $0 | $0 |
| LORETTA DOON | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| KRISTOPHER TATE | CORPORATE SECRETARY | Officer | 1.00 | $0 | $0 | $0 |
| PAUL TALBOT | ASST. CORP. SECRETARY | Officer | 1.00 | $0 | $0 | $0 |
| LINDA B SEGRE | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| GREGORY AVIS | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| DAN KINGSLEY | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| BILL BROWNELL | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| UNA OSILI | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
| ANNE CASSCELLS | DIRECTOR | Director | 1.00 | $0 | $0 | $0 |
Compensation Breakdown
Schedule J detail — base, bonus, benefits, and executive perks
SAMUEL W KANG
Base Salary
$350,669
Bonus
$345,668
Other Reportable
—
Retirement/Deferred
$200,000
Nontaxable Benefits
$18,504
FREDERICK K KAYNOR
Base Salary
$291,281
Bonus
$183,845
Other Reportable
—
Retirement/Deferred
$100,000
Nontaxable Benefits
$18,504
MICHAEL MAESTAS
Base Salary
$285,733
Bonus
$139,480
Other Reportable
—
Retirement/Deferred
$100,000
Nontaxable Benefits
$18,504
DOUGLAS CAMPBELL
Base Salary
$253,408
Bonus
$157,727
Other Reportable
—
Retirement/Deferred
$100,000
Nontaxable Benefits
$18,504
STEPHANIE QUEISERT
Base Salary
$288,893
Bonus
$104,838
Other Reportable
—
Retirement/Deferred
$80,000
Nontaxable Benefits
$18,504
BRYAN GREGSTON
Base Salary
$228,528
Bonus
$104,905
Other Reportable
—
Retirement/Deferred
$80,000
Nontaxable Benefits
$18,504
CALEB LUND
Base Salary
$223,843
Bonus
$108,931
Other Reportable
—
Retirement/Deferred
$45,000
Nontaxable Benefits
$18,504
LORI KIRKLAND
Base Salary
$241,528
Bonus
$76,158
Other Reportable
—
Retirement/Deferred
$50,000
Nontaxable Benefits
$18,504
ANTHONY MATTHEWS
Base Salary
$196,198
Bonus
$101,227
Other Reportable
—
Retirement/Deferred
$50,000
Nontaxable Benefits
$18,504
JULIA REED
Base Salary
$202,054
Bonus
$81,651
Other Reportable
—
Retirement/Deferred
$50,000
Nontaxable Benefits
$18,504
LORRIE BRANSON
Base Salary
$192,854
Bonus
$36,322
Other Reportable
—
Retirement/Deferred
$35,000
Nontaxable Benefits
$18,504
Top Contractors(Tax Year 2023)
5 records
Schwab Charitable Fund reported 5 contractors receiving over $100,000, with total contractor payments of $14.6M.
| Name | Service | Compensation |
|---|---|---|
| CHARLES SCHWAB & CO | BROKERAGE & ADMIN SERVICES | $7,893,693 |
| NATURAL INVESTMENTS LLC | ASSET MANAGEMENT | $2,107,152 |
| GRAYSTONE CONSULTING LTD MORGAN STANLEY | ASSET MANAGEMENT | $2,037,743 |
| BASSWOOD CAPITAL MANAGEMENT LLC | ASSET MANAGEMENT | $1,629,119 |
| CERITY PARTNERS | ASSET MANAGEMENT | $886,123 |
Governance & Compliance(Tax Year 2023)
Schwab Charitable Fund has 6 of 6 recommended governance policies in place, including conflict of interest, whistleblower, document retention. Its board has 8 members, 7 of whom are independent.
Schwab Charitable Fund's financial statements are audited, an audit committee oversees the process, accounting follows GAAP standards.
Policies & Oversight
Audit & Financial Oversight
Insider Transactions(Tax Year 2023)
1 record
Unknown person — FOUNDER
Grants Awarded(Tax Year 2023)
55292 records
Schwab Charitable Fund awarded $6.4B across 55292 grants to organizations. Top recipients include JOHNS HOPKINS UNIVERSITY (BALTIMORE, MD) — $517.4M for education; NATIONAL PHILANTHROPIC TRUST (JENKINTOWN, PA) — $249.1M for public, societal benefit; LUCAS MUSEUM OF NARRATIVE ART (SAN FRANCISCO, CA) — $165.0M for arts, culture & humanities.
Organization Grants
| Recipient | Location | Amount | Purpose |
|---|---|---|---|
| JOHNS HOPKINS UNIVERSITY520595110 | BALTIMORE, MD | $517.4M | EDUCATION |
| NATIONAL PHILANTHROPIC TRUST237825575 | JENKINTOWN, PA | $249.1M | PUBLIC, SOCIETAL BENEFIT |
| LUCAS MUSEUM OF NARRATIVE ART455600818 | SAN FRANCISCO, CA | $165.0M | ARTS, CULTURE & HUMANITIES |
| 85 FUND202466871 | WASHINGTON, DC | $160.0M | HUMAN SERVICES |
| RENAISSANCE CHARITABLE FOUNDATION352129262 | INDIANAPOLIS, IN | $144.7M | PUBLIC, SOCIETAL BENEFIT |
| FIDELITY INVESTMENTS CHARITABLE GIFT FUND110303001 | COVINGTON, KY | $127.7M | PUBLIC, SOCIETAL BENEFIT |
| STANFORD UNIVERSITY BOARD OF TRUSTEES941156365 | STANFORD, CA | $90.4M | EDUCATION |
| UCSF FOUNDATION942829914 | SAN FRANCISCO, CA | $68.7M | EDUCATION |
| CHURCH OF JESUS CHRIST OF LATTER DAY SAINTS870234341 | SALT LAKE CITY, UT | $57.2M | RELIGION RELATED |
| GLOBAL SUPPORT AND DEVELOPMENT832504447 | CHARLOTTE, NC | $41.8M | HUMAN SERVICES |
| VITAL STRATEGIES INC223419667 | NEW YORK, NY | $35.0M | INTERNATIONAL, FOREIGN AFFAIRS |
| BROAD INSTITUTE INC263428781 | CAMBRIDGE, MA | $32.3M | HEALTH |
| CALIFORNIA INSTITUTE OF TECHNOLOGY951643307 | PASADENA, CA | $31.5M | EDUCATION |
| UC BERKELEY FOUNDATION946090626 | BERKELEY, CA | $30.9M | EDUCATION |
| IMPACTASSETS INC262048480 | BETHESDA, MD | $30.2M | PUBLIC, SOCIETAL BENEFIT |
| DOCTORS WITHOUT BORDERS133433452 | NEW YORK, NY | $28.8M | INTERNATIONAL, FOREIGN AFFAIRS |
| ROCKEFELLER PHILANTHROPY ADVISORS INC133615533 | NEW YORK, NY | $25.9M | PUBLIC, SOCIETAL BENEFIT |
| TRUSTEES OF PRINCETON UNIVERSITY210634501 | PRINCETON, NJ | $25.5M | EDUCATION |
| MAYO CLINIC411917516 | ROCHESTER, MN | $25.1M | HEALTH |
| HARVARD UNIVERSITY042103580 | BOSTON, MA | $24.3M | EDUCATION |
Showing 20 of 55292 grants.
Foreign Activities(Tax Year 2023)
Activities span CENTRAL AMERICA AND THE CARIBBEAN, EAST ASIA AND THE PACIFIC, EUROPE (INCLUDING ICELAND & GREENLAND), MIDDLE EAST AND NORTH AFRICA, NORTH AMERICA.
Regions & Countries
| Region / Country | Activity | Expenditure |
|---|---|---|
| CENTRAL AMERICA AND THE CARIBBEAN | — | — |
| CENTRAL AMERICA AND THE CARIBBEAN | — | — |
| EAST ASIA AND THE PACIFIC | — | — |
| EUROPE (INCLUDING ICELAND & GREENLAND) | — | — |
| EUROPE (INCLUDING ICELAND & GREENLAND) | — | — |
| MIDDLE EAST AND NORTH AFRICA | — | — |
| NORTH AMERICA | — | — |
| NORTH AMERICA | — | — |
| RUSSIA AND NEIGHBORING STATES | — | — |
| SOUTH AMERICA | — | — |
| SOUTH ASIA | — | — |
| SUB-SAHARAN AFRICA | — | — |
Supplemental Financial Data(Tax Year 2023)
Schwab Charitable Fund operates a donor-advised fund (DAF) program with 112,188 accounts.
Filing History(Tax Years 1999–2023)
5 records
Showing the 5 Form 990 filings currently in our system.
| Tax Year | Form | Period | Revenue | Expenses | Net Assets |
|---|---|---|---|---|---|
| 2023 | 990 | 2023-07-01 – 2024-06-30 | $9.7B | $6.7B | $41.0B |
| 2022 | 990 | 2022-07-01 – 2023-06-30 | $7.7B | $5.2B | $31.6B |
| 2021 | 990 | 2021-07-01 – 2022-06-30 | $10.1B | $4.8B | $26.4B |
| 2020 | 990 | 2020-07-01 – 2021-06-30 | $7.3B | $3.8B | $25.5B |
| 2019 | 990 | 2019-07-01 – 2020-06-30 | $4.9B | $3.4B | $17.1B |
| 1999–2018 | No filings acquired yet | ||||
Frequently Asked Questions
What does Schwab Charitable Fund do?
INCREASE CHARITABLE GIVING IN THE UNITED STATES OF AMERICA.
How much revenue does Schwab Charitable Fund have?
Schwab Charitable Fund reported $9,661,652,588 in total revenue for tax year 2023, up 26.3% from the prior year.
Who is the highest-paid executive at Schwab Charitable Fund?
SAMUEL W KANG, PRESIDENT, received $914,841 in total compensation as of tax year 2023.
Is Schwab Charitable Fund a 501(c)(3)?
Yes, Schwab Charitable Fund is classified as a 501(c)(3) tax-exempt organization.
Where is Schwab Charitable Fund located?
Schwab Charitable Fund is headquartered in LONE TREE, CO 80124.
How many employees does Schwab Charitable Fund have?
Schwab Charitable Fund has 194 employees as of tax year 2023.
Is Schwab Charitable Fund audited?
Yes, Schwab Charitable Fund's financial statements are audited, and the organization has an audit committee.
How much does Schwab Charitable Fund spend on fundraising?
Schwab Charitable Fund reported $11,659,779 in fundraising expenses for tax year 2023, which represents 0.2% of total expenses.
Does Schwab Charitable Fund give grants?
Yes, Schwab Charitable Fund distributed $6,623,957,198 in grants to other organizations and individuals in tax year 2023. Top recipients include JOHNS HOPKINS UNIVERSITY, NATIONAL PHILANTHROPIC TRUST, LUCAS MUSEUM OF NARRATIVE ART.
Does Schwab Charitable Fund operate internationally?
Yes, Schwab Charitable Fund conducts activities outside the United States. Activities span CENTRAL AMERICA AND THE CARIBBEAN, EAST ASIA AND THE PACIFIC, EUROPE (INCLUDING ICELAND & GREENLAND), MIDDLE EAST AND NORTH AFRICA, NORTH AMERICA.
Data Source
Prepared by: DELOITTE TAX LLP, SEATTLE, WA
IRS Form 990 electronic filings via the IRS Exempt Organizations Business Master File. All financial figures are as reported in USD.
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