Incorporating DAFs Into Your Emergency Fundraising Plan
It has only been six weeks since most of our offices closed and we were forced to pivot to remote operations and programming, but we’ve learned a lot in this short period of time about connecting with community members as we build our emergency fundraising plans.
An important lesson that all of us at Donorly have taken away from these experiences with our clients is that donors who give through Donor Advised Funds (DAFs) are in a unique position to be helpful during this time. Because donors who contribute to DAFs have already parted with and invested their dollars for charitable purposes, they aren’t relying on those funds right now for personal use. Even better, DAFs often remain relatively stable, even in times of economic distress. This is great news and important information to keep in mind as you develop strategies for approaching this subset of your donors.
Here are three important steps that we recommend as you move forward:
Start with the donors you know. You probably have at least a handful of donors you already know give through DAFs like Schwab, Fidelity, Vanguard, or a local community trust. Use the story that you have crafted about your organization’s response to the current climate to make a clear, compelling, and direct ask for a gift. Transparency is more important than ever, and we think you will find that your donors will respond to it positively by renewing or even increasing their support in this time of need, knowing that they have the funds already set aside for charitable giving.
Regroup with your closest friends. There are probably more people than you realize on your Board and in your closest circle of donors who have DAFs. Open a conversation with these stakeholders about the role that DAFs might play in your fundraising strategy right now. It is likely that at least a few people in this group will identify themselves and offer support.
Say it loud and clear. Make it clear on your solicitation materials (including your website) that you are eligible to accept gifts made through DAFs. Donors who give through these organizations will need your EIN and full legal name in order to authorize the gift, so make sure that information is readily available so that a donor needs to do very little work to make a gift.
We are already seeing that donors across the country with the capacity to make emergency gifts are stepping up to the plate, so the time is right to make an ask of those in your community who have already put aside some of their dollars for charitable giving. For more information on DAFs and how to cultivate that subset of donors, we recommend this article from The Chronicle of Philanthropy.