Contributions to donor-advised funds at Vanguard Charitable rose 16 percent last year, to $1.6 billion, the organization said Wednesday.
Vanguard also added roughly 3,300 accounts last year, a more than 22 percent spike compared with 2016.
Much of the growth is likely due to passage of the tax-overhaul bill last year, which caused many people to change their philanthropic plans because of potential tax implications, says Jane Greenfield, president of Vanguard Charitable, which raises more from private sources than all but nine other nonprofits, according to the Chronicle’s latest Philanthropy 400 ranking.
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