Nonprofit Hub Radio The Future of Giving: Donor Advised Funds (DAFs)
Donor Advised Funds (DAFs) are becoming more and more prevalent in the nonprofit space, and it is becoming increasingly crucial for nonprofits to understand this method of giving. What is a DAF? What are the advantages of donating through DAFs in a world where credit card usage is more convenient? How can you accommodate donors who are looking to use this new means of supporting your mission? Learn about the motivations behind your donors who are switching to DAFs, the benefits of DAFs for your nonprofit organization, and the latest strategies for accommodating donors who use DAFs. On this episode, host Meghan Speer sits down with Greg Farrell and Mitch Stein to discuss the ins and outs of DAFs as vehicles for philanthropic giving, one of the most requested topics for the podcast.
Throughout the podcast, references are made to the following study regarding data collected about DAFs: https://www.givechariot.com/daf-fundraising-report.
Mitch Stein is the Head of Strategy for Chariot, a payments company for Donor Advised Fund (DAF) giving. They help nonprofits incorporate Donor Advised Fund gifts into all their fundraising flows with Chariot’s integrated DAF payment option, removing the headaches of missing DAF donors and tracking DAF gifts. He had a 7 year career as an Investment Banker at Goldman Sachs before becoming a startup founder around his biggest passion - bringing more high impact innovation to the nonprofit space. His startup raised over $1M in pre-seed funding, grew to a team of 10, and helped thousands of users. In 2023, he consulted with other founders in the social impact tech sector on their Strategy, Story & Sales where he ultimately joined Chariot’s team to help make his biggest dreams for philanthropy a reality.
Greg Farrell is a legacy Hefren-Tillotson advisor. He and his wife, Christine Farrell, lead a unique group within the Baird family. Greg is a CFP® practitioner and a Senior Vice President with the firm. He is licensed for a variety of insurance needs as well, including long-term care insurance. He has authored articles for several local newspapers and has been a featured speaker on the popular financial radio call-in show, "Your Money & You" heard Sunday mornings on KDKA-AM/1020. Greg has served in numerous volunteer positions for his favorite charity, the Pittsburgh Vintage Grand Prix. He is also active in Fox Chapel Presbyterian Church where Greg served as an Elder.
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