Independent donor-advised fund sponsor National Philanthropic Trust granted $1.7 billion to nonprofit organizations in 2019, up 62% from 2018.
NPT account holders recommended a record 62,858 grants to U.S. and international charities, a year-over-year increase of 35%.
Besides cash contributions, NPT donors contributed illiquid assets in the form stocks, business interests and real estate, as well as art and cryptocurrency to their DAF accounts. Some donors also chose NPT’s proprietary impact investing options for their DAF accounts.
In 2019, NPT donors recommended grants to a wide range of causes and charities in the U.S. and around the globe. Causes included women’s rights in Atlanta, literacy programming in Denver, wildfire relief in Australia and infant mortality in Morocco.
NPT’s U.K. affiliate, NPT Transatlantic, also experienced record grants to charities in 2019. The London-based organization issued grants exceeding $29 million, which represented a 75% increase over 2018.
NPT publishes an annual report on the state of DAF philanthropy.
In a statement, NPT’s chief executive Eileen Heisman laid out four things to think about or watch going forward with regard to DAFs.
“First,” Heisman said, “DAFs will continue to be a particularly attractive option for families as the ‘great wealth transfer’ accelerates. Second, philanthropic services at financial institutions, financial advisors and DAF providers will become integral to effective philanthropy.
“Next, Americans will acknowledge the role tax policy plays in charitable giving. And, finally, technology will influence the simplicity of DAF grantmaking.”
— Related on ThinkAdvisor: