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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/