Donor Advised Funds: A Go-To Tool For Generous Brooklynites
Thanks to our generous donors, the Foundation had a record-breaking year for investment in Brooklyn in 2018—and in particular, we have seen the growth of our Donor Advised Funds (DAFs).
We now have over 60 DAFs, representing a 33% growth in the number of funds over the past year, and a 50% growth in the number of funds since 2016. Along with the increase in funds at the Foundation, the investment and impact from our DAFs skyrocketed between 2017 and 2018, with a 70% increase in grants out from DAFs.
Our DAF holders are incredibly active donors, and we are proud to report that they granted out $3.2m to nonprofits in 2018—with a remarkable 60% of those grants ($1.9m) invested in Brooklyn!
We are honored that these donors have entrusted us to manage their funds and help grow their impact in the borough and beyond.