October 10th, 2024 is the first ever DAF Day! DAF Day was launched in the summer of 2024 by a group of nonprofits, fundraising platforms, and DAF sponsors to expand DAF giving by encouraging those with DAFs to distribute at least 10% from their accounts on the same day, October 10th, 2024.
Correction: There are over 1,400 DAF sponsors in the United States. The number 400 was cited in the video in error.
DAFs, short for Donor-Advised Funds, offer a convenient way for donors to take tax deductions for the charitable donations they make today while buying them time to decide which charities are worthy of those donations later. The funds donated are held in investment accounts operated by nonprofit community foundations like the National Philanthropic Trust (the Trust), the charitable arms of large financial services firms such as Fidelity Charitable, DAFgiving360 (formerly Schwab Charitable), Vanguard Charitable, and others.
DAFs discourage impulsive giving by allowing donors to contribute to their accounts in the years most advantageous for tax purposes while buying them time to decide which charities are worthy of those donations later, which is a good thing. The downside is that some donors allow such contributions to languish in their DAF accounts for decades rather than distributing them to charities that can put those dollars to good use to feed the hungry, house the homeless, aid injured veterans, fund cancer research, and for other important programs. According to the National Philanthropic Trust, there were an estimated $229 billion in charitable dollars sitting idle in donor-advised funds as of the end of 2022, unreachable by the charities these donations were intended to benefit.
If you have a DAF we hope you will participate in the first ever DAF Day this October 10th by making distributions from your account. Visit our Top-Rated list to browse charities by cause area and select efficient charities to support that have also met CharityWatch’s benchmarks for governance and transparency. Then, login to your DAF account directly through your DAF sponsor or do so through every.org. And as always, thank you for giving wisely!
As the only independent charity watchdog in the United States, CharityWatch relies on public support to fund our work with journalists, our research into wrongdoing in the nonprofit sector, and our charity ratings. Your donations are noticed, needed, and greatly appreciated. We hope you will consider supporting CharityWatch by making a distribution to us from your DAF today. Login to your DAF directly on your DAF sponsor’s website or visit CharityWatch’s profile on every.org to make a donation.
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