GivenGain allows charities to accept donor-advised funds (DAFs) as a donor's donation payment method by partnering with The Giving Block and Chariot to offer DAFpay, a DAF grant facilitator, providing charities with the ability to receive payouts in fiat money without needing DAF expertise.
The integration offers charities access to a new segment of high-value DAF donors while maintaining their existing donation process and fee structure.
Donor-Advised Funds (DAFs) are the most tax efficient and organized way to give, with over $52 billion donated per year by more than 3 million DAF users. Through DAFpay, the average gift size is over $1,300, with a median amount of $250.
DAFpay lets high potential donors give in their preferred way, from their dedicated charitable savings account (aka DAF) at the moment of their online donation via GivenGain.
How the DAFpay integration works:
- Accept DAF grants: Charities on the GivenGain platform can now accept grants from various DAFs, as selected by the donor, as donations.
- Fiat payouts: They receive the donation value in traditional fiat currency (USD), eliminating the need to manage wallets.
- Donation flow & fees: The donation process remains familiar for donors, and charities retain their existing fee structure.
Key benefits:
- Wider donor base: Access to a new, growing segment of donors who prefer to give via a DAF grant.
- Ease of use: Charities don't need to handle DAF wallets or new technology.
- Increased donation value: The average DAF donation on GivenGain can be significantly higher than traditional methods, such as credit card donations.
In essence, the DAFpay integration democratizes access to DAF giving for a broad network of nonprofits, making it easier for them to accept DAF grants and receive payouts in a familiar currency format.
GivenGain charity profile-related info:
- DAF donations payouts form part of the standard donation transfer schedules.
- DAF donations are subject to a 3% fee. View our pricing.
- DAF donations are non-refundable.
- DAF donations via GivenGain do not qualify for a tax benefit as the tax benefit has already been effected when the funds were originally added into that donor-advised fund.