Vanguard, Schwab Charitable donors keep giving despite stock sell-off

At Vanguard Charitable, donors granted more than $1.87 billion, marking its sixth straight year of record giving.

Last year’s market turmoil didn’t prevent Vanguard and Schwab Charitable donors from setting new granting records.

Vanguard Charitable said Wednesday that its donors granted more than $1.87 billion in 2022 to nonprofits in need, its sixth straight year of record giving. Last year’s total was a 5% increase over the prior record year of 2021 and included over 196,000 grants issued to more than 52,000 unique organizations, according to the donor-advised fund provider, which has granted more than $15 billion to charities worldwide since its inception.

Vanguard Charitable donors directed their giving to the following causes in 2022, in order of popularity by number of grants issued: human services (58,000), religion (43,000), education (30,000), health (24,000), environment and wildlife (15,000), arts and culture (14,000) and civic (11,000).

Vanguard Charitable donors also granted more than $70 million to nonprofits supporting the humanitarian crisis in Ukraine last year.

“As a leading grantmaker and donor-advised fund provider, we at Vanguard Charitable are uniquely situated to help donors enact strategic giving plans that are resilient through all economic environments,” Rebecca Moffett, president of Vanguard Charitable, said in a statement. “The past year serves as a blueprint for DAF donors as they continue to leverage one of the most strategic giving options and giving partners to support cause areas in need now and into the future.”

The top 10 nonprofits supported by Vanguard Charitable donors by number of grants were: Doctors Without Borders, World Central Kitchen, Planned Parenthood Federation of America, International Rescue Committee, Samaritan’s Purse, St. Jude Children’s Research Hospital, UNICEF USA, Cru (Campus Crusade for Christ), Direct Relief and Catholic Relief Services.

Vanguard’s report follows on the heels of Schwab Charitable’s announcement earlier this week that its donors increased their grants to charity in 2022 to more than $4.7 billion, with a record 995,000 grants to more than 117,000 charities. Schwab said the dollars granted to charities represent a 7% increase, or nearly $300 million more for charities, compared to 2021.