The 2023 Donor-Advised Fund Report, the most comprehensive data on the state of donor-advised fund (DAF) philanthropy in the United States, shows that the value of DAF grantmaking to charitable organizations increased 9% to $52.16 billion and the number of accounts grew 2.9% to 1,948,545. In 2022, DAFs continued to be one of the most reliable funding sources for charitable organizations, despite a decline in overall charitable giving, inflation, and a challenging year for U.S. financial markets.
"Donors increased the value of their grant recommendations for the thirteenth consecutive year, despite the decrease in overall and individual charitable giving (GivingUSA) as well as the losses in the three main U.S. market indexes and record inflation," said Eileen Heisman, CEO of National Philanthropic Trust. "Because DAF donors pre-fund their giving with irrevocable contributions, grantmaking from DAFs to charitable organizations is not as correlated to financial markets and individual household economic volatility. Donors already allocated assets in their DAFs to continue grantmaking and could support the causes that mean most to them."
Continued Heisman, "We believe we are seeing a ?new normal' for DAFs, meaning a return to the more modest historical growth rates than the growth we saw during the height of COVID-19 in 2020 and 2021. DAF donors recommended 9% more grant dollars than their previous historic high-water mark in 2021."
2023 Donor-Advised Fund Report Key Findings
"Since the first DAF Report 17 years ago, the variety of giving tools and the charities to give to have increased substantially," said Heisman. "DAFs are the fastest growing giving tool that donors choose, and charities rely on, for easy, streamlined philanthropy with remarkable consistency. Historically, periods of growth in contributions to DAFs, including 2022, are followed by significant grantmaking from DAFs in the following years. As we look to the future, we expect this grantmaking momentum to continue benefitting charitable organizations in the U.S. and around the world."
The full 2023 Donor-Advised Fund Report, which includes a comparison by charitable sponsor types, is available at no charge or login requirement. Content attribution: National Philanthropic Trust, NPTrust.org.
2023 DAF Report Methodology
The DAF Report, the most extensive and current examination of DAF philanthropy, primarily uses data from IRS Form 990 filings to provide the most up-to-date and reliable analysis of the DAF sector. The 2023 report examined 1,151 charitable organizations that sponsor donor-advised funds, including national charities, community foundations, and other sponsoring charities. The five-year history data file includes records from 1,295 DAF sponsors, which operated during at least some of the period since 2007. Complete methodology can be found in the 2023 DAF Report.
DAF Report History
The Donor-Advised Fund Report has been published by National Philanthropic Trust as a public service since 2007. The report began as a two-page analysis of 10 DAF sponsors. Today, the annual report compiles data from over 1,000 DAF sponsors using the most extensive methodology developed by an independent team of data editors and researchers. The report is recognized as the preeminent source for DAF sector data.
About National Philanthropic Trust
Founded in 1996, National Philanthropic Trust (NPT) is the largest national, independent public charity that manages donor-advised funds and one of the leading grantmaking institutions in the U.S. Since its founding, NPT has raised more than $49.8 billion in charitable funding and has made more than 640,000 grants exceeding $25.7 billion to nonprofits around the world. NPT annually publishes the Donor-Advised Fund Report, the sector's authority on the state of DAF philanthropy. Visit NPT's resource library to learn what you can do with a DAF and about NPT's impact investing options. More at NPTrust.org and NPTGivingPoint.org.
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