Donors contribute a record $100 million via Raymond James Charitable in 2019
Donors’ generosity led to another record year of giving for Raymond James Charitable in fiscal year 2019, with a total of over $100 million in grants. That represents more than a 28% increase in giving from the previous fiscal year, which ended in March. Grant recipients represented a wide range, with education, social services and faith-based charities securing the most grant money.
“In spite of concerns about tax reform’s potential impact on giving, our donors continued to make grants and contribute record amounts,” said Thomas Wilkins, Chairman of the Board for Raymond James Charitable. “Raymond James clients are increasingly interested in using charitable giving vehicles in their estate plans, with donor advised funds being the most popular choice because of their simplicity,” added Joe Weaver, president of Raymond James Trust. Many donors took advantage of DAFs that allow the bunching of charitable contributions, making it easier to itemize gifts for tax benefits while supporting favorite causes over a number of years. Giving to foundations and DAFs continues to grow in response to donor preferences and incentives, according to the 2018 Blackbaud Charitable Giving Report.
Since its inception, Raymond James Charitable has facilitated more than $525 million in grants to public charities.