The team at DonorsTrust, a donor-advised fund (DAF) committed to encouraging philanthropic giving and protecting donor intent, is celebrating “Giving Tuesday” amid a record-breaking pace of donations. Giving Tuesday, the first Tuesday following Thanksgiving, Black Friday, and Cyber Monday, is a global celebration of generosity. All are encouraged to help others and consider giving their time and resources.
“DAFs remain positioned right now to serve the public good, especially in these continued uncertain times,” explained Lawson Bader, CEO of DonorsTrust. “Charitable contributions from DAFs met the challenge of 2020 for a multitude of charities and kept the pace going throughout 2021.”
DonorsTrust is on pace to set a new record in 2021, already distributing grants totaling more than $140 million through mid-October.
In 2020, DonorsTrust paid out more than $186 million to charitable causes. With an expected surge in additional giving around the holidays, the amount in 2021 is on track to be significantly higher.
In 2019, DonorsTrust accountholders recommended $163 million in grants to 751 charities in nearly every U.S. state, representing an increase of 12% from 2018.
DAFs are like a charitable savings account that provides donors more time to think about which charities to contribute to over time, all while their money is growing in the fund, increasing the impact of giving from both a timing perspective and amount, too.
“Giving from DAFs is increasing as philanthropists look to give more, and more strategically – on Giving Tuesday and beyond - making up for the unanticipated needs and demands many non-profits are currently experiencing,” Bader continued. “Despite these fears and uncertainty from the pandemic and economic uncertainty, giving expectations were surpassed as donors continue to step up and support non-profit organizations.”
DAFs provide a key source of income for charities. The charitable vehicle is growing in popularity, with nearly 1 million Americans utilizing DAFs to centralize and simplify giving. Low new account minimums make them the great democratizers of philanthropy – available to all, not just the privileged few.
To learn more about how DAFs and DonorsTrust are making a difference, please visit http://www.donorstrust.org.
Established in 1999 as a 501(c)(3) public charity, DonorsTrust is a community of donors devoted to creating a better future. Our donors support charities they believe protect our Nation’s constitutional liberties and strengthen civil society through private institutions rather than government programs. Our boutique size lets us offer our donors personal attention and advice that helps them achieve their philanthropic goals. We ensure that our donors’ intentions are protected and offer simple, effective, and tax-advantaged, ways to give. Since its inception, DonorsTrust granted over $1.6 billion to more than 4,000 charities that protect our constitutional liberties and strengthen civil society without government funding.