SAN FRANCISCO--(BUSINESS WIRE)--The Charles Schwab Corporation’s 11th annual Schwab Volunteer Week begins today in 102 cities across the U.S., during which thousands of Schwab employees and executives team up to help local charities. This year’s event has a record number of participants, with more than 3,700 Schwabbies donating approximately 15,000 service hours to 258 projects benefiting nearly 200 charities. Approximately 100 Schwab branch offices around the country are also participating in the company’s effort.
For the first time this year Schwab will pilot skills-based volunteering during Schwab Volunteer Week. The “Skills Marathon,” which will debut in both San Francisco and Denver, will consist of a half day of consulting in which teams of Schwab employees will help nonprofit organizations with business strategy, marketing, corporate communications, HR and technology, giving them tangible advice and solutions for their real-world challenges. This consulting work by nearly 90 Schwab employees will amount to approximately $100,000 in value to the 20 participating nonprofit organizations.*
“Hands-on volunteer projects like painting and landscaping are always valuable. But with Schwab employees contributing their professional skills and intellectual capital to help solve complex business challenges, they are really upping the ante in terms of the value they bring to the table – and ultimately the impact they can have,” said Danielle Holly, chief executive officer of Common Impact.
“Schwab Volunteer Week exemplifies our company’s long history of service, not only for our clients but also for our communities,” said Carrie Schwab-Pomerantz, president of Charles Schwab Foundation and senior vice president, Charles Schwab & Co., Inc. “It’s so exciting to see this annual event continue to grow and evolve, with this year marking the highest level of participation ever.”
Although there is a strong focus on helping nonprofits that work toward building financial capability and well-being, Schwab employees can sign up for a range of diverse volunteer projects. These include light construction, landscaping and gardening, painting and cleaning, meal service, as well as personal finance education. Benefiting organizations include:
- Nonprofits providing economic development, professional services and business education, including Pacific Community Ventures, Kiva and Juma Ventures;
- Elementary and high schools;
- Youth-serving organizations such as Boys & Girls Clubs of America, Homeward Bound and Junior Achievement; and
- A wide variety of other organizations including Habitat for Humanity, Goodwill, the Salvation Army and Dress for Success.
In addition to Schwab employees’ sweat equity and intellectual capital, Charles Schwab Foundation will provide each participating nonprofit organization a grant of $500.
Employee volunteer stories and photos from the week will be posted throughout the week and can be viewed and downloaded on the Schwab Talk blog and at photos.aboutschwab.com. To see additional ways Schwab employees donate their time and talents during Schwab Volunteer Week and throughout the year, watch this video.
About Charles Schwab Foundation
The Charles Schwab Foundation is a nonprofit public benefit corporation, classified by the IRS as a charity under section 501(c)(3) of the Internal Revenue Code. The Foundation is neither a part of Charles Schwab & Co., Inc. (member SIPC) nor its parent company, The Charles Schwab Corporation. Its mission is to educate, volunteer and advocate on behalf of those in need so that everyone has the opportunity to achieve financial well-being. More information is available at www.aboutschwab.com/community.
About Charles Schwab
At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
Through its operating subsidiaries, The Charles Schwab Corporation (NYSE: SCHW) provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; compliance and trade monitoring solutions; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through Schwab Advisor Services. Its banking subsidiary, Charles Schwab Bank (member FDIC and an Equal Housing Lender), provides banking and lending services and products. More information is available at www.schwab.com and www.aboutschwab.com.
*Based on a formula by the organization Common Impact, which multiplies the estimated hourly market rate by the number of hours Schwab consultants are providing: The rate is based on the market value of a consultant if a nonprofit were to hire a consultant in a major city where the range is generally between $125-175/hr.