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Must Know for Fundraisers: Donor Advised Funds
A Donor Advised Fund is fund set up by a public charitable organization that makes grants to other charitable organizations on behalf of the donor, who makes grant recommendations to the fund.
The article - Fidelity and Schwab Report Surge in Grants from Donor Advised Funds - highlights the growing popularity of DAFs, noting that grants from funds are up more than 30% from the previous year. Fidelity reports that the average size of grants was $4,700.
Here are a few other stats from 2013 and 2014:
- There were 217,367 donor-advised fund accounts
- Donor-advised funds held $53.74 billion in assets
- Annual contributions into donor-advised funds were $17.28 billion
- Donors recommended grants from donor-advised funds totaling $9.66 billion
- Average donor-advised fund account size was $241,217
As more and more of our major donors use Donor Advised Funds, it's our responsibility as nonprofits and gift officers to have a confident understanding of this important tool.
Take 5 minutes to brush up on Donor Advised Funds.
Review how DAFs are different from Family Foundations.
And this case study, Denise and the DAF, is a true story of a gift officer providing value to the donor relationship with her knowledge of DAFs.