Let’s face it—fundraising is anything but easy. And just because donor participation is decreasing and your resources are stretched thin doesn’t mean that your organization’s essential work is any less needed.
For decades, donor advised funds (DAFs) have been an afterthought, with many nonprofits focusing on acquiring smaller gifts on a more immediate and frequent basis. But as the culture of DAF philanthropy extends beyond high-net-worth donors and new technology makes giving from a DAF as easy as using a credit card, this powerful fundraising vehicle is ready to have its moment.
On October 10th, we’re rallying nonprofit organizations, donors, and DAFs to celebrate the first-ever DAF Day. DAF Day is the start of a movement to redefine DAF giving as a vehicle for every generation.
Now it’s time to activate your community, from DAF donors who are just waiting to make a difference to new supporters who don’t yet know about this effective method of giving.
We welcome you to join the DAF Day movement as we come together to cultivate lifelong supporters—ones who will lead us into a future built on limitless hope, bold activism, and the kind of generosity that invites everyone to participate.
To kick off our DAF Day announcement, we spoke to nonprofit leaders about the state of DAFs, how nonprofits can benefit from signing up for DAF Day, and what’s ahead as we track toward October 10th. This critical conversation featured:
Tanya Mujica Keenan, Senior Director of Strategic Initiatives at Memorial Sloan Kettering Cancer Center
Becca Lockhart, VP, Head of Fundraising Campaigns at the Michael J. Fox Foundation
Carlos Pena, Director of Donor Advised Funds, International Rescue Committee
Mitch Stein, Head of Strategy, Chariot (givechariot.com)
Signing up and joining the DAF Day movement is completely free and takes just a few minutes. If you’re on the fence, here are just some of the many reasons your organization can benefit from embracing this new wave of DAF giving.
1. DAFs are the fastest-growing philanthropic vehicle
From financial advisors starting the conversation to employers making DAFs part of compensation, this win-win way to give just keeps getting bigger. In fact, DAF donors have grown by 79 percent compared to a 6 percent decline in non-DAF donors. And this jump in participants means DAF revenue is growing, too—a jaw-dropping 214 times faster than non-DAF revenue.
2. DAFs are a surprisingly untapped resource
Did you know that only 3 million people use DAFs, while 60 million use a 401k? One report revealed that just 17 percent of US adults even know what a DAF is.
And although DAFs are a proven method to supercharge donor giving, just 42 percent of nonprofits mention DAFs in their donor communications and marketing.
With so much potential and so little fanfare, we haven’t yet seen the massive impact DAF giving can create. DAF Day shines a bright light on the power of DAFs and unites nonprofits, DAFs, and donors around harnessing it on October 10th and well beyond the big day.
3. DAF donors could use some inspiration
You may think that you need to encourage existing DAF donors to contribute to their accounts, but chances are, they’ve got plenty to give. They're just waiting for your organization to ask for it.
Currently, $230 billion in DAF accounts are reserved for donors to distribute to 501(c)(3) nonprofits like yours. Data shows that if you don’t start the conversation, that would-be donor will continue to allow the funds to exist untouched in the account. The DAF Research Collaborative reports that a shocking 37 percent of DAF accounts go unused in any given year.
With October 10th just weeks away, now’s your chance to start the conversation about DAF giving with the folks who are already invested.
4. DAF Day brings donor advised fund giving to the forefront
DAF Day is more than a potential boost to your end-of-year revenue. Rather than launching a one-off campaign to boost DAF engagement at your organization, DAF Day partners benefit from a central platform that can show skyrocketing momentum and community participation around DAF giving, which will only encourage more. We’re working together to redefine DAF giving so it can become part of donor vocabulary in a positive way now and for your future DAF giving campaigns.
5. Donors enjoy banding together for a dedicated day of giving
Unlike buzzy philanthropic vehicles like peer-to-peer fundraising, DAF giving has been missing out on the social component of supporting the causes we care about most in the company of friends.
DAF Day is changing the DAF experience from an isolated mode of philanthropy to a communal one that thrives on conversation and lights up social media. On October 10th, we’re going to DAF together, tell everyone why we do it, and inspire people in our networks to DAF along with us.
6. Turn enthusiastic supporters into new DAF donors
Before you flock to your wealth screening tool to pick out specific donors for DAF Day solicitations, consider the expanded demographics willing to give these types of donations. While one-on-one outreach to major donors is an excellent part of your DAF Day strategy, consider these numbers from donors who give through Chariot’s DAFpay that suggest casting a wider net:
The average DAF gift is over $1,000, but the median gift is around $250. First-time DAF donors often start with smaller gifts but increase their gift amount as you nurture the relationship. The average DAF balance is almost $120,000, meaning that cultivating a potential DAF donor who doesn’t fall at the top of a wealth screening list could become one of your biggest donors over time.
The key to converting non-DAF donors is to educate them on DAF giving’s many benefits, from its impact on your organization to how it helps them support causes they care about more easily while enjoying tax benefits in the process.
7. DAF donors give more
That extra effort you funnel into DAF Day participation could pay off big for your organization. The 2024 DAF Fundraising Report revealed that as soon as a donor opens a DAF account, they increase their annual giving by a whopping 96%.
Remember that number when you invite current DAF donors to join the DAF Day movement. Ask them to commit 10% of their DAF funds to their chosen cause on 10/10 and encourage them to share about their participation so people in their network can DAF with them.
8. Develop DAF benchmarks and goals for your organization
Q4 is just around the corner, so it’s the perfect time to consider how you plan to accelerate fundraising in the coming weeks. DAF Day provides your team with a unique opportunity to explore your donor advised fund marketing strategy to date, along with how you intend to harness DAFs as a surefire way to sustain your mission.
9. Your nonprofit can pursue DAFs as a community effort
DAF Day is a community of fundraising leaders who exchange ideas, share resources, and rally a national community of donors to embrace a better way to give.
By signing up for DAF Day, you can organize your team around a shared timeline that all DAF participants can track toward together. The best part about that? You’ll have access to resources and inspiration that can only come from a unified collective.
10. We’ve got campaign assets and DAF-centric tech ready for you to use today
Because marketing and donor education are crucial to successful DAF Day participation, Chariot has created a wealth of resources that your organization can leverage right now, including:
A complete DAF Day Marketing Toolkit
Once you sign up to join the DAF Day movement, we’ll send you a toolkit packed with marketing assets that you can adapt to your organization’s DAF Day campaign. It includes:
Brand elements and guidelines
Email copy
DAF Day webpage templates
Social media assets
Blog post templates
A DAF Day Webinar Series
Save your spot for our free DAF Day webinars featuring industry leaders discussing all things DAFs and DAF Day. These can’t-miss conversations will cover topics like internal team education, campaign planning, and how to get your donors and board members set to make October 10th a dazzling success.
DAFpay for Donation Forms
Adding a DAFpay button to your donation form can empower supporters to donate DAF gifts in just three quick clicks. See how it works:
Don’t wait—DAF Day starts now
With the buzz of DAF Day well underway, participating nonprofits are seeing DAF donations rolling in before the big day. Their advice? Get your donation forms set with DAFpay so you don’t miss any early gifts, and sign up to receive the toolkit so you can start building your campaign.
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