News

• Published date: 01 March 2019
• Date: 01 March 2019
• DOI: http://doi.org/10.1002/nba.30573

NONPROFIT BUSINESS ADVISOR MARCH 2019

12 © 2019 Wiley Periodicals, Inc., A Wiley Company • All rights reserved

DOI: 10.1002/nba

News

Schwab Charitable awards

record $2.2 billion in 2018 grants

Schwab Charitable, one of the largest providers

of donor-advised funds in the country, awarded a

record $2.2 billion in grants to 86,500 charities in

2018, representing a 35 percent increase from the

previous year.

According to Schwab’s end-of-year tally, its DAF

donors recommended more than 487,000 grants, up

32 percent from 2017, with top recipients including

Feeding America, Planned Parenthood, Doctors

Without Borders, The Salvation Army and Campus

Crusade for Christ, the organization said.

Schwab’s donors gave at historic levels, even in light

of concerns over the potential impact of tax reform

and the year-end market correction, it said. Just in the

last three months of the year, donors recommended

more than 210,600 grants totaling $807 million, up

from 163,600 grants totaling $655 million in Q4 2017.

Digging deeper into its 2018 gures, Schwab said

that more than two-thirds of contributions to its

DAF accounts were in the form of noncash assets

last year. This reected an increase in strategies for

maximizing charitable giving, the organization said.

Individuals who own appreciated investments held

for a year or more can unlock signicant tax benets

by donating them to charity, potentially increasing

the amount available for charity by up to 20 percent

compared to selling the assets and donating the pro-

ceeds, Schwab said.

In addition, many donors opted to concentrate

their charitable contributions in 2018 by donating a

few years of gifts to their donor-advised funds all at

once. This practice, known as bunching, can allow do-

nors to maximize their tax benets by giving enough

to make it advantageous to itemize deductions every

few years and then benet from taking the new higher

standard deduction in other years, Schwab said.

For more information, visit https://www.

schwabcharitable.org.

CVS Health launches $100 million

health initiative

Following its completed acquisition of Aetna, CVS

Health has announced a $100 million commitment

to its new Building Healthier Communities initiative,

which will be funded over ve years through the com-

bined company as well as the CVS Health Foundation

and Aetna Foundation. The initiative builds on the

historic philanthropic investments by both organiza-

tions and will leverage their scale, combined capabili-

ties and resources to deliver a measurable impact on

the health of communities across the United States.

Through Building Healthier Communities, CVS

Health will invest $20 million annually across three

funding categories to support a range of initiatives

and nonprot organizations. These include:

• Improving local access to affordable health care.

CVS Health will expand its Project Health campaign

to target more underserved and underinsured com-

munities beginning in 2019, with an aim of reaching

more at-risk populations with free health and well-

ness screenings.

• Impacting public health challenges. The company

will make signicant investments in support of inno-

vative approaches to managing chronic disease, includ-

ing diabetes, heart disease and high blood pressure.

• Partnering with local communities. Through the

Aetna Foundation and its collaboration with U.S.

News & World Report, CVS Health will support the

Healthiest Communities rankings, an annual report

that evaluates the health of nearly 3,000 communities

nationwide across 10 categories, from education and

population health to infrastructure and more.

For more information, visit https://bit.

ly/2WhQF8Z. ■

establish the element of causation.

She acknowledged that a plaintiff could establish

causation by demonstrating that the time gap between

the protected conduct and the adverse employment

action was very close. However, she said a gap of

three months was insufcient because: (1) the gap

between the plaintiff’s last protected activity and the

rst promotion denial was more than four months

and (2) there was nothing else to establish causation.

Judge Morgan granted summary judgment in favor

of the department.

[Montgomery-Smith v. Louisiana Department of

Health and Hospitals et al., United States District

Court for the Eastern District of Louisiana, No. 17-

5564, 8/6/2018]. ■

EMPLOYMENT LAW (continued from page 11)