Credit score: DAFpay
DonorDrive, an EngageSmart resolution and creator of a complicated enterprise digital fundraising resolution, introduced a collaboration with Chariot, the creator of Donor Suggested Fund (DAF) funds resolution DAFpay, which is able to permit DonorDrive purchasers to simply accept DAF funds on-line via their present DonorDrive donation varieties. The brand new characteristic is predicted to be out there within the DonorDrive platform on the finish of January 2024.
Particular person giving skilled a 6.4% year-over-year decline in 2022, in line with Giving USA. In distinction, the Nationwide Philanthropic Belief discovered that Donor Suggested Fund giving grew 9.1% of their 2023 DAF Report. This coupled with the truth that the typical DAF reward is $4,798 (per Constancy’s annual DAF donor report) makes Donor Suggested Funds a key focus for fundraising groups. The 2023 DAF report additionally discovered that in 2022, donors gave $52 billion from DAFs – but $229 billion remains to be held in these charitable financial savings accounts ready to be donated to certified 501(c)(3) organizations. As nonprofit organizations face an rising quantity of strain to lift funds, accepting DAF presents instantly of their on-line giving varieties presents enterprise nonprofits a chance to succeed in a wider demographic of extremely beneficiant donors and make giving as handy as attainable for them.
Many DonorDrive purchasers already settle for DAF presents, however processing these donations is tedious and time-consuming for each inner employees and donors. With DAFpay by Chariot, donors can grant instantly from their DAF account to a nonprofit’s DonorDrive fundraising marketing campaign or occasion. The benefiting group will obtain quick entry to particulars together with the reward quantity, donation standing, and the donor’s contact data within the DonorDrive platform. With all of this data saved in a single place, nonprofits may have a less complicated option to have interaction donors and assist drive donor retention. The group may also obtain all these DAF presents electronically, saving significant employees time whereas lowering the danger of misplaced or stolen checks.
DAFpay will likely be an out there fee choice for all DonorDrive donation experiences, together with DonorDrive’s newly launched Embedded Donation Types. Along with DAFpay, DonorDrive presents quite a lot of donor fee choices: all main bank cards, multi-currency, ACH, and digital pockets choices PayPal, Apple Pay, and Venmo.
“Throughout the philanthropy business, nonprofits are looking for expanded and artistic methods to extend funds raised as particular person giving declines considerably,” mentioned Kasey Cuppoletti, Senior Vice President, Product at DonorDrive. “At DonorDrive, we’re continuously searching for modern methods to assist our purchasers fight these tendencies and purchase extra donors. By our collaboration with Chariot, Donor Suggested Funds present a terrific alternative for our purchasers to extend income, cut back friction within the donation course of, and enhance effectivity for his or her inner groups.”
“Having a Donor Suggested Fund fee choice superpowers fundraising efforts and creates a extra streamlined expertise for donors,” mentioned Aaron Kahane, Co-Founder and COO of Chariot. “By collaborating with DonorDrive, we’re making it simple for donors to contribute on to the group of their alternative, particularly as a part of excessive impression peer-to-peer campaigns. We estimate greater than 3 million donors have entry to Donor Suggested Funds. DAFpay by Chariot simplifies the DAF donor giving expertise, rising conversion charges and donation frequency, and serving to nonprofits steward their donors by enhancing the flexibility to thank and join with donors instantly after a donation is made.”
The previous press launch was supplied by an organization unaffiliated with NonProfit PRO. The views expressed inside don’t instantly replicate the ideas or opinions of the employees of NonProfit PRO.