DAFgiving360, which is one of the largest national providers of donor-advised fund (DAF) accounts and related philanthropic resources, reported that its donors granted more than $7.7 billion to charity in 2024, a 25% increase – or $1.5 billion more – compared to 2023. The donors supported 151,000 individual 501(c)(3) nonprofits through more than 1.3 million grants.
A DAF account is a simple, efficient, and tax-smart solution for charitable giving. Once set up, donors can contribute cash, securities, or other appreciated non-cash assets. The donors and their families can then recommend grants to charities quickly and easily at any time to support both immediate and long-term charitable goals.
Since DAFgiving360 was launched in 1999, the organization has helped individuals and families give more than $40 billion to more than 270,000 charities.
As contributions to a DAF are immediately set aside for charitable use, donors have the flexibility to provide ongoing support to their favorite charities and respond quickly to support those impacted by natural disasters or humanitarian crises as they occur. And at DAFgiving360 in 2024:
— Donors granted over $175 million for disaster relief to charities supporting those affected by unforeseen crises, such as the fires in California and hurricanes in the Southeast.
— 72% of grant recommendations did not specify a purpose, empowering organizations to quickly deploy the grants where needed most.
— One out of every three grants were set up as a recurring grant to provide ongoing support for a charity.
— 83% of donors granted within their home state, reinforcing donor commitment to supporting local causes within their communities.
DAF donors gave first and foremost to maximize the impact they can have on the causes and charities they care most about. And with a DAF account at DAFgiving360, a contribution in any amount is eligible for a current-year tax deduction. Plus, contributing appreciated non-cash assets – such as publicly traded securities, real estate, or private business interests – that are held for more than one year can unlock additional funds for charity by potentially eliminating the capital gains tax donors would incur if they sold the assets and donated the cash proceeds after. This could increase the amount available for grants to charity by as much as 20%. Last year, 64% of contributions to DAFgiving360 were in the form of non-cash assets.
Plus, assets contributed to a DAF account could be invested for potential growth that’s tax-free. Since DAFgiving360’s inception, investment growth has created an additional $16 billion available for charity grants.
DAFgiving360 also works with 4,600+ financial advisors, who are critical resources for donors. DAFgiving360’s consultative approach and comprehensive resources enable advisors to help clients incorporate charitable giving into their broader wealth management approach to maximize their charitable impact. Last year, 78% of DAFgiving360’s donor account assets were associated with a professional investment advisor.
KEY QUOTE:
“We are humbled by the incredible generosity of our DAFgiving360 donors and grateful that they entrust our solution to support their charitable giving goals. Their sustained approach to giving is especially remarkable. For every contribution made in 2024, donors recommended 10 grants to charities, at a pace of $21 million dollars in grants on average each day.”
– Fred Kaynor, Managing Director of Relationship Management, Marketing, and Partnerships at DAFgiving360
