Although the U.S. economy continued to struggle in 2009, the number of donor-advised funds grew by 3% and total dollar grants from these vehicles to charities exceeded total contributions into DAFs for the first time, according to the 2010 Donor-Advised Fund Report just released by National Philanthropic Trust.
Donors paid out more than $6 billion, the second-highest total in the six-year history of the study, according to Andrew Hastings (left), NPT’s vice president for external affairs and the chief researcher and writer of the study. “This shows us that people still remained very committed to supporting their charitable causes, and they were doing it through their DAFs,” Hastings said in a telephone interview with AdvisorOne.
The new report is based on data collected from 331 charitable organizations that sponsor DAFs during the second and third quarters of 2010. These include national programs, community foundations and a variety of other sponsor organizations.
These are the new study’s key findings and projections: