Donor-advised funds grew in all key metrics for the 10th consecutive year, according to the 2020 annual DAF report published Tuesday by National Philanthropic Trust, an independent public charity that manages donor-advised funds.
NPT also published the sector’s first review of DAF donors’ response to the coronavirus pandemic, which it said found historic donor philanthropy.
2020 DAF Report
The 2020 DAF report covers the 2019 fiscal year, which began as early as July 1, 2018, for some sponsors, and ended as late as Dec. 31, 2019. Researchers examined 993 charitable organizations that sponsor DAFs, using data from IRS Form 990 filings.
“The 2020 Donor-Advised Fund Report reflects heightened philanthropic engagement, financial market fluctuations, increased interest in illiquid asset contributions and longer-term impact of the Tax Cuts and Jobs Act of 2017,” Eileen Heisman, NPT’s chief executive, said in a statement.
The value of grants from DAF accounts to qualified charities totaled $27.4 billion in 2019, up 15.4% from 2018. This was the first year grants from DAFs exceeded $25 billion and the second year they exceeded $20 billion.
Since 2010, value of grants to qualified charities from DAFs has increased by 199%.
Contributions to DAF accounts, which are irrevocable and destined for qualified charities, increased to $38.8 billion from $36.1 billion in 2018.
Charitable assets in all DAF accounts totaled $142 billion, a 16.2% increase from 2018. The report noted that continued growth of charitable assets under management reflects increases in the number of DAFs, contributions from donors and investment gains.