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Donor-Advised Fund Assets Grew to Record $54B in 2013

By Michael S. Fischer

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Donor-advised fund sponsors of all types experienced growth in charitable assets, grants to charities and total contributions in 2013, according to National Philanthropic Trust’s annual DAF report, released last week.

The 2014 report found that total DAF charitable assets grew to $54 billion last year, a 19.8% increase over 2012.

Grants reached a record high of $9.7 billion, 12.6% ahead of the year before. By comparison, the rate of growth between 2011 and 2012 was 6.7%.

Contributions to DAFs totaled $17 billion in 2013, a 23.5% increase over the previous year. However, this year’s growth rate was off last year’s 33.5% pace.

Last year’s average DAF account size reached a record $247,217, a 13.4% increase over 2012, the report said.

The number of DAF accounts in the U.S. increased by 5.7% in 2013 to a total of 217,367. The report noted that one out of every three accounts was created in the last seven years, making DAFs the fastest-growing giving vehicle in the U.S.—a 34% growth rate over seven years.

“More than ever, philanthropists are leveraging the power and flexibility of donor-advised funds, reaffirming their position as the most popular charitable giving vehicle in the U.S.,” Eileen Heisman, National Philanthropic Trust’s president and chief executive, said in a statement.

Following are the number of different types of giving vehicles and their percentage growth from 2012, and their total assets and percentage growth:

  • Donor-advised funds: 217,367 (5.7%); $54 billion (19.8%)
  • Charitable Remainder Unitrusts: 90,380 (-1%); $88 billion (3.4%)
  • Private Foundations: 84,350 (7.3%); $615 billion (5.7%)
  • Charitable Remainder Annuity Trusts: 13,660 (-6.5%); $6.2 billion (-3.7%)
  • Charitable Lead Trusts: 6,480 (-0.3%); $27 billion (13.2%)
  • Pooled Income Funds: 1,230 (-7.2%); $1 billion (-2.4%)

— Check out Top 25 U.S. Charities: 2014 on ThinkAdvisor.