Donor Advised Funds - DAFPay by Chariot Integration
DAFpay is a new payment method powered by our partnership with Chariot, the only Donor Advised Fund payments solutions provider. This feature seamlessly integrates Donor Advised Fund (DAF) payments into a nonprofit’s fundraising efforts. All of the largest Donor Advised Fund providers are supported, including Fidelity, Schwab, Vanguard, National Christian Foundation, Dallas Jewish Community Foundation, The Donor’s Fund, and many more.
What is a Donor Advised Fund?
A Donor Advised Fund is a charitable savings account created solely to support non-profit organizations that donors care about. When money, or more complex assets such as stock, crypto, or real estate, are deposited into a DAF, donors are immediately credited with a tax receipt, and can then invest those funds which grow tax-free. Donors can direct their DAF to make grants to 501(c)3 non-profit organizations at any time. Additionally, using DAFpay by Chariot, these DAF donations can be made instantly and seamlessly online within a nonprofit’s own donation forms. Donor Advised Funds represent the fastest-growing vehicle in philanthropy, with over $229 billion available in immediate donations across the United States.
Key Benefits of Donor Advised Fund (DAF) Payments
Larger Donations: The average DAF account has $117,466 already designated to charity, and the average gift from Fidelity in 2023 was $4,625, making it 23x larger than the average credit card gift. The average online DAF gift made via DAFpay is roughly $1,000.
Ideal Donor Experience: Chariot’s seamless DAF payment process eliminates redirects, removes friction and increases the conversion rate for these high-impact gifts. It’s just 3 clicks (down from a typical 15 clicks for an offline DAF gift).
Identify DAF Donors: DAF account holders can now self-identify via their online donation to your campaign, and you now have the data needed to steward these donors to deeper relationships with your mission.
We’re excited to offer this Donor Advised Fund payment option which we believe will supercharge your fundraising efforts and provide a more streamlined experience for your donors. If you have any questions or need guided assistance, feel free to reach out to our support team!
How to Manage Your Chariot DAFpay Integration
DAFpay is enabled by default for all US-based partners, and you can opt out at anytime by contacting our Customer Support Team. Send an email to 'support@crowdchange.co' and our team would be happy to assist!
To complete your set up you should make sure to claim your Chariot account by visiting: Dashboard.GiveChariot.com/Signup
If you want to manage your DAFpay integration you can follow the instructions below:
From anywhere on your CrowdChange site, click Profile → Admin in the top right corner.
On the left sidebar, click Banking: DAF | Chariot.
Enter the EIN number of your nonprofit and click Continue.
The information about your nonprofit will auto-populate. Click Connect to finalize the connection.
The information about your connected account will now show in the Banking: DAF | Chariot menu.
Claiming your Account with Chariot
Partners will need to claim their account with Chariot in order to fully onboard with DAFpay and be able to manage their incoming gifts. Please see this article which details the process.
Making a Donation with DAFpay
Once the setup is complete, DAFpay will now be an option at checkout on all fundraisers on the site.
Example of DAFpay at checkout
Clicking the button at the bottom will launch the DAFpay checkout process.
The donor will be prompted to select their DAF provider and connect with their login credentials.
Once logged in, they can quickly and seamlessly complete their DAF payment.
DAFpay is a fast, safe, and secure payment method. When you donate through DAFpay, your data is always safe and secure. Chariot’s servers run on Amazon Web Services (AWS), which means top of the line protection that evolves with the latest universal industry standards. Third parties will never have access to any of your donors data, and the information you pass is fully encrypted using industry-vetted protocols.
Chariot’s technology follows the same standards utilized for linking bank accounts to financial applications such as Venmo. No grants will ever be submitted without donor verification and consent, ensuring that you are fully in control of all your activity through the modal. Chariot prides itself first and foremost on security, and is constantly ensuring that its security measures keep to the highest standards.
Additional Resources
For further information, check out the below articles which go deeper into the DAF market and DAF donors.
Breaking Down the Donor Advised Fund Market In 2022
Top 9 Takeaways for Nonprofits from the 2024 National Study on Donor Advised Funds
So… What is a DAF? Donor Advised Funds 101 for Fundraisers
The 15 top takeaways from Fidelity Charitable’s 2024 DAF report