What’s the most meaningful feature of a Schwab Charitable account? Granting to charities. If your client has given you grant recommendation privileges, you can manage the process on their behalf, choosing from over 1.5 million charities recognized by the IRS. Here’s how.
While in Schwab Advisor Center, go to More, and select Schwab Charitable Center, where you can review and manage your clients’ accounts. If you weren’t already in the client account you want, you’ll need to find the account using the Search field or Browse link.
Next, click Grant to Charity. To find a new charity for a grant recommendation, search by name or Tax ID. If necessary, narrow your search results by state, and make your charity selection.
Enter the grant amount.
If your client wants to make ongoing grants to a charity, go to Schedule a Future or Recurring Grant. Just enter the frequency, the start and end dates, or no end date. Note that any future occurrence of a recurring grant can be skipped, and all future occurrences can be canceled.
You also have the option of either selecting client names or the account name for acknowledgement on the grant award letter, or having the grant sent anonymously.
In addition, you can tell the charity how the grant should be used: wherever it’s needed most, or for a specific purpose.
To recommend another grant from a list of past grants, go to Grant to Charity. Then in Recent Grant History, find the previous grant, and click Grant Again in the Action column.
When the grant award letter and check have been sent to the charity, your client will receive confirmation from Schwab Charitable.
Whether you send one grant or ongoing grants to a charity, your clients are making a bigger difference in the world.
If you have any questions, just ask. We’re here to help.