As donor advised funds have become more commonly known to the general public, stories about sponsor organizations and how donors interact with them are more frequently in the news. Here is a round up of what’s been making the headlines recently in the world of donor advised funds.
Network for Good Reaches $5 Billion in Donations (June 20, 2023)
Established in the early days of online giving, Network for Good’s donor advised fund recently announced that they have surpassed $5 billion in total donations. The group partners with companies including Facebook, Instagram, Google, YouTube and Patagonia to encourage online giving.
Two-Part Conversation with Kathleen Enright, President and Chief Executive Officer of the Council on Foundations (June 19, 2023)
The Council on Foundations is a nonprofit membership organization for philanthropic organizations around the globe. The Council is frequently cited in the press when nonprofits are in the news. President and Chief Executive Officer Kathleen Enright participated in a two-part chat with the Capital Research Center where they discussed minimum distribution requirements, private foundations and DAFs, as well as legislative possibilities toward DAF regulation.
Fidelity Charitable’s 2023 Geography of Giving (June 2023)
The popular commercial DAF sponsor Fidelity Charitable recently posted an interesting report about where Americans give the most based on region, and which charities are the most popular recipients of donations from Fidelity’s DAF holders in each area. Click on a city within each region to see dollars spent, number of grants, and average grant amount. Who is giving where in your area?
Philanthropist Laura Lauder: “Donor-Advised Funds Represent “the Biggest Opportunity for Philanthropy in America” (May 2023)
At this year’s Milken Institute Global Conference, Ms. Lauder advocated for spending assets in DAFs towards causes that will further social impacts, rather than reserving assets in funds for years at a time. She also explained recent changes in her philosophy toward giving.
Opinion: Don’t Wait for Legislation – Spend those DAF Dollars Now! (April 2023)
#HalfMyDAF is back! David and Jennifer Risher, the leaders behind the #HalfMyDAF challenge which encouraged donors to spend more of their fund’s assets recently wrote an opinion piece for the Chronicle of Philanthropy. They have expanded their DAF donor campaign to include a matching gift contest by September 30th (another challenge ended on June 30th).
2024 White House Budget Proposal includes Greater Limitations on DAFs (April 2023)
Although other budget items received more attention, included in the Biden administrations’ 2024 budget are several items regarding DAFs, one of which includes a clause that a private foundation’s distribution to a DAF does not count as a qualifying tax distribution for the foundation unless it is then distributed by the DAF during the calendar year.
Daffy.org Transforms the Donor-Advised Fund into “LinkedIn for Giving” (November 2022)
Daffy.org, an app for philanthropists, allows donors create a charitable profile, select how and when to give, and find new organizations to contribute to from posts by friends and family. Rather than an introductory contribution to establish an account, Daffy has a free option and a scale of monthly membership fees depending on access preferences.
These articles and lots more like them can be found at the DAFinitive® Resources page at https://bit.ly/DAFinitiveResources – don’t forget to check it out on a regular basis to see what’s new!
