top of page
  • Writer's pictureMitch Stein
    • 5 days ago
    • 4 min read

The biggest untapped opportunity for DAF Day success? Your board.

As a board member, you’re an indispensable champion for the causes you care about. You leverage your connections to inspire giving and lend your expertise to amplify your favorite organization. And thanks to your innovative spirit, you’re always looking for that next big idea to amplify its mission. 


If you need inspiration for year-end fundraising, consider DAF Day the perfect opportunity to spark greater giving.


What is DAF Day?


DAF Day is a dedicated day of giving from donor advised funds on October 10, 2024. 


For 24 hours, nonprofits, DAFs, and donors will band together and unleash a wave of DAF giving to organizations throughout the US. And since DAF Day’s less than one month away, now’s the time to start getting prepped. 


The key to DAF Day success? Awareness. This year is the first one, so spreading the word to donors and your network is a must. 


Read on for tips and strategies to inspire your DAF Day participation from people leading the DAF Day charge at their organizations, including:



Before we begin with board member participation, let’s talk DAF basics. 


The benefits of DAF giving for donors and nonprofits 


Whether you already use a DAF or you’re still learning about them, let’s review why they’re so valuable—then pass it on to whoever will listen!


DAF benefits for donors


Convenience 


First, DAFs provide donors with a convenient way to set aside money for charity. DAFs allow donors to automatically deposit funds into a DAF account. In the simplest of definitions, a DAF is like a 401k but for charitable giving. 


As a DAF donor, there’s no question of money when you feel motivated to give. It’s right there waiting in your DAF account, ready to make a difference. 


Simple tax management


Once you start using a DAF, you no longer have to hunt down individual tax receipts for every charitable gift. Instead, you’ll receive a single tax receipt documenting all your contributions to the DAF account, taking some of the hassle out of tax time.


A better, more strategic way to give


DAFs empower donors to align their giving with their philanthropic goals. With a DAF, you can set up recurring DAF gifts to provide regular support for the organizations and causes of your choice.


No minimums


DAFs make it easy to be generous. Southern Poverty Law Center reports that in recent years, donors have switched from using family foundations to donor advised funds because there’s no minimum contribution—plus a DAF is far easier to set up than a foundation. 


DAF benefits for nonprofits


Increased giving and retention


According to the DAF Fundraising Report:


  • When a donor starts giving from a DAF, their annual giving increases by 96 percent.

  • DAF revenue is growing 214x faster than non-DAF revenue.

  • DAF donor retention is an average of 15 percent higher than non-DAF donors.


DAFs are having a moment. DAF donors have grown by 79 percent, while non-DAF donors have declined by 6 percent. This means DAF giving wins once donors know it’s an option—and that’s where board members like you come in. 


DAF Day for board members: 5 ways you can maximize your nonprofit’s DAF Day impact


Want to know how you can help your organizations achieve DAF Day success? Here’s a list of actions you can start taking today.


1. Start using a DAF to support your top causes 


If you don’t have a DAF just yet or you do but haven’t been using it, begin treating your DAF account as your sole way of giving. 


Not only will this be a whole lot more convenient, it will also equip you to rattle off DAF benefits to the folks in your network who have yet to join in. 


If you have kids with the same philanthropic spirit, make DAF giving a family event. One family mentioned how each member contributes to a single family DAF and holds quarterly family meetings to share the causes they plan to support together. 


Ready to get started? Learn more about DAFs (including how to set one up) here. 


2. Simplify DAF giving at your organization


Traditionally giving a DAF gift involves a DAF manager between the donor and the receiving organization. This means your nonprofit doesn’t immediately get the DAF donation, nor do you receive the donor’s information for thank-yous and future solicitations. It’s a process that’s historically considered clunky and disappointingly impersonal—but fortunately, all of that has changed. 


With DAFpay, you can equip donors to give directly from their DAF with just three clicks. All you need to do is ensure that your organization adds a DAFpay button to all of their donation forms. 


Here’s how it works:




3. Commit to the 10-10-10 pledge


You’re a board member, so going big is what you do—especially when it comes to special events. For DAF Day, consider doing just that with a 10-10-10 pledge—that means commiting to giving 10 percent of your DAF on October 10th (10/10) for DAF Day. 


And since 10-10-10 has such a nice ring to it, it’s an easy idea to share with DAF holders in your network. 


4. Shape the conversation around an individual donor’s motivations


Fundraising conversations typically focus on a particular cause that may or may not be close to a prospective donor’s heart. In some ways, starting conversations about DAF Day is easier because DAF Day isn’t dedicated to any particular cause. 


To prepare for DAF Day, have one-on-one conversations with folks in your network about Step 1—understanding the benefits of a DAF and setting up an account. Once they’re on board with DAF giving and participating on October 10, you can mention that your organization will join in.


5. Launch a DAF Day matching gift campaign


Thanks to social media buzz and DAFpay technology, you can promote DAF giving as a community celebration.  


Set up a matching gift campaign for DAF Day and share your fundraiser with people in your network who’d love nothing more than to support you in raising money for your favorite cause.



Comments

bottom of page