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Charles Schwab Corporation Foundation

Annual Giving
$15.7M
Grant Range
$25K - $0.2M

Quick Stats

  • Annual Giving: $15,694,862 (2023)
  • Success Rate: Not publicly available
  • Decision Time: Not publicly disclosed
  • Grant Range: $25,000 - $220,000+ (based on recent grants)
  • Geographic Focus: National, with emphasis on communities where Schwab operates
  • Application Method: Invitation only/employee recommendation

Contact Details

Address: Lone Tree, CO
Website: https://www.aboutschwab.com/giving-back
Note: The foundation does not provide direct public contact information for grant inquiries.

Overview

Founded in April 1994, the Charles Schwab Corporation Foundation is the corporate giving arm of Charles Schwab & Co., Inc. As of 2024, the foundation held $44.6 million in total assets and distributed $15.7 million in grants in 2023. The foundation's mission centers on promoting financial literacy and responding to local cultural and social needs in communities where Schwab operates. Under the leadership of Carrie Schwab-Pomerantz (Chair & President) and Rick Wurster (Chair & President), the foundation has established long-standing partnerships with organizations like Boys & Girls Clubs of America (nearly 20 years) and focuses on empowering both youth and adults with financial capability skills. The foundation also strongly emphasizes employee engagement, with over 12,000 Schwab employees volunteering to serve nearly 4,000 nonprofits nationwide in 2024.

Funding Priorities

Grant Programs

The foundation operates several distinct funding streams:

  • Direct Grants to Nonprofits: Typically ranging from $25,000 to $220,000 for financial literacy programs and community initiatives. In 2024, the foundation granted more than $560,000 to organizations hosting Schwab employee volunteers.

  • Employee Matching Program: The foundation matches employee contributions to eligible nonprofits on a one-for-one basis from $25 to $1,000 per employee per year, with an additional $1,000 match for employees serving on nonprofit boards.

  • Season of Giving Initiative: Annual program providing grants to address hunger relief and food insecurity. In 2024, the foundation awarded $300,000 to local food banks and nonprofits.

  • Financial Planning Scholarship Endowment: $3.5 million endowment providing approximately $10,000 per year (for two years or until graduation) to students from underrepresented communities majoring in financial planning at partner universities. Since 2007, the program has provided more than $16 million to over 24 universities.

  • Money Matters Scholarship Program: Partnerships with Boys & Girls Clubs offering a $10,000 scholarship to the National Money Matters Ambassador and $5,000 scholarships to four additional recipients.

Priority Areas

  • Financial Literacy: Youth financial education (ages 13-18) focusing on basic money management, saving, spending, and investing skills
  • Adult Financial Capability: Programs for adults age 50+ covering goal setting, budget planning, debt reduction, credit repair, and asset building
  • Community Development: Affordable housing and small business lending programs
  • Hunger Relief: Food insecurity initiatives in Schwab communities
  • In-School Financial Education: Curriculum integration and teacher support for financial literacy

What They Don't Fund

Based on related Schwab Foundation guidelines, typical exclusions include:

  • Educational scholarships (except through specific established programs)
  • General operating expenses (with limited exceptions)
  • Capital improvements
  • Equipment unrelated to program goals
  • Salaries (with limited exceptions)
  • More than 10% of award for food costs

Governance and Leadership

Key Leadership:

  • Carrie Schwab-Pomerantz - Chair & President. A prominent financial literacy advocate who has championed financial education as "one of the great equalizers in our society." She emphasizes that "Financial literacy is a survival skill that everyone needs" and has stated: "The ability to make sound money decisions shouldn't be considered a 'nice to have' or elective life skill. Everyone needs it."

  • Rick Wurster - Chair & President

  • Bernie Clark - Board Member

  • Helen H. Loh - Board Member

  • Paul Woolway - Board Member

Carrie Schwab-Pomerantz on Foundation Priorities: "Financial illiteracy is insidious. The antidote is financial education, which gives people the skills they need to make smart money decisions and can help improve their lives... Access to financial education is unequal in our country. Schwab wants to help level the playing field by making free, high-quality financial education accessible to everyone."

Application Process & Timeline

How to Apply

The Charles Schwab Corporation Foundation does not have a public application process. The foundation currently accepts grant requests by invitation only.

To be considered for a direct grant, organizations must be:

  1. Recommended by a Schwab employee who is an active volunteer with the organization, OR
  2. Performing community work that corresponds to the Foundation's strategic initiatives in financial literacy

According to foundation materials: "Grant-seekers must be recommended by a Schwab employee who is an active volunteer in the organization, or be performing community work that corresponds to the Foundation's initiatives."

Greater consideration is given to organizations that already have Schwab employee volunteers — and the more employees involved with the organization, the greater the opportunity to be considered for a direct grant.

Getting on Their Radar

Build Relationships with Schwab Employees: The foundation's grantmaking is explicitly tied to employee engagement. Organizations should focus on:

  • Recruiting Schwab employees as volunteers for their programs
  • Encouraging active Schwab volunteers to recommend the organization for funding
  • Partnering with Schwab on their volunteer initiatives, including their annual skills-based volunteer program where employees share professional expertise with nonprofits

Align with Strategic Partnerships: The foundation has established long-term partnerships with national organizations including:

  • Boys & Girls Clubs of America (nearly 20-year partnership)
  • DonorsChoose (for financial education projects in classrooms)
  • AARP Foundation (for adult financial capability programs)

Organizations working in similar spaces or affiliated with these networks may have better positioning.

Participate in Foundation-Led Initiatives: The foundation runs annual programs where nonprofits can benefit:

  • Season of Giving (hunger relief focus)
  • Volunteer Week initiatives (where participating nonprofits receive grants)
  • Skills-based volunteering programs

Decision Timeline

Decision timelines are not publicly disclosed. The foundation evaluates opportunities on an ongoing basis tied to employee recommendations and strategic initiatives.

Success Rates

Success rates and application volumes are not publicly available, as the foundation operates on an invitation-only basis rather than through open applications.

Reapplication Policy

Not applicable given the invitation-only grant process.

Application Success Factors

Since the foundation operates through invitation and employee recommendations rather than open applications, success factors differ from traditional grantmaking:

Employee Engagement is Critical: Organizations with active Schwab employee volunteers have significantly better chances of receiving funding. The foundation explicitly states that "greater consideration will be given to organizations that already have Schwab employee volunteers — and the more employees involved with the organization, the greater the opportunity."

Financial Literacy Alignment: Programs must clearly connect to financial literacy, financial capability, or economic empowerment. Recent funded examples include:

  • Uplift Education ($220,000) - In-school financial education for high school seniors taught by trained volunteers
  • DonorsChoose ($100,000) - Supporting teachers' financial education classroom projects
  • The Players Company ($25,000) - Enabling wealth-generation and financial literacy for youth in under-resourced communities

Clear Goals and Evaluation Plans: The foundation funds "programs with clearly defined goals, objectives/outcomes, and sound evaluation plans." They may also consider "carefully controlled innovative pilot programs" and planning grants in some cases.

Community Impact: Organizations should demonstrate how their work addresses local cultural and social needs in communities where Schwab operates.

Cost-Effectiveness: Programs should show reasonable expenditure per student or participant served.

Foundation Leadership Priorities: Carrie Schwab-Pomerantz has emphasized that financial education should be accessible to all: "Access to financial education is unequal in our country. Schwab wants to help level the playing field by making free, high-quality financial education accessible to everyone." Programs serving underserved populations and addressing equity gaps align with these stated values.

Key Takeaways for Grant Writers

  • Employee connections are essential - Without a Schwab employee champion who actively volunteers with your organization, grant opportunities are extremely limited
  • Financial literacy is the core mission - Programs must directly address financial capability, money management skills, or economic empowerment
  • Long-term partnerships matter - The foundation favors sustained relationships (e.g., 20-year partnership with Boys & Girls Clubs) over one-time grants
  • Demonstrate measurable outcomes - Clear goals, evaluation plans, and cost per participant served are critical evaluation criteria
  • Engage with volunteer programs first - Organizations should focus on recruiting Schwab volunteers and participating in company-led initiatives before seeking grant funding
  • Geographic alignment helps - Schwab operates nationwide but may prioritize communities with significant Schwab presence
  • Multiple funding streams exist - Beyond direct grants, organizations can benefit from employee matching gifts, volunteer grants, and participation in annual campaigns like Season of Giving

References

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