GivenGain enables charities to accept donor-advised funds (DAFs) as a method of donation payment by partnering with The Giving Block and Chariot to provide DAFpay, a DAF grant facilitation service. This service allows charities to receive payouts in fiat currency without requiring specialized knowledge of DAFs.
This integration grants charities access to a new segment of high-value DAF donors while preserving their existing donation processes and fee structures.
Donor-Advised Funds (DAFs) represent the most tax-efficient and organized method of giving, with over $52 billion donated annually by more than 3 million DAF users. Through DAFpay, the average gift size exceeds $1,300, with a median donation amount of $250.
DAFpay allows donors with high potential to contribute via their preferred method, utilizing their dedicated charitable savings account (also known as a DAF) at the time of their online donation through GivenGain.
Overview of the DAFpay Integration:
- Acceptance of DAF Grants: Charities on the GivenGain platform may now accept grants from various DAFs, as designated by the donor, as donation payments.
- Fiat Currency Payouts: Charities receive the donation amount in traditional fiat currency (USD), thereby eliminating the need to manage digital wallets.
- Donation Process and Fees: The donation experience remains consistent for donors, and charities maintain their current fee structures.
Key benefits:
- Expanded donor base: Access to a growing segment of donors who prefer to contribute via DAF grants.
- User-friendly: Charities are not required to manage DAF wallets or adopt new technologies.
- Increased donation amounts: The average DAF donation on GivenGain tends to be significantly higher than traditional donation methods, such as credit card contributions.
In summary, the DAFpay integration democratizes access to DAF giving for a broad network of nonprofit organizations, simplifying the acceptance of DAF grants and receipt of payouts in a familiar currency format.
Information Pertaining to GivenGain Charity Profiles:
- DAF donation payouts are included within the standard donation payout schedules.
- DAF donations are subject to a 3% fee. Please refer to our pricing for details.
- DAF donations are non-refundable.
- DAF donations made via GivenGain do not qualify for additional tax benefits, as the tax advantage is realized when funds are initially contributed to the donor-advised fund.