As we’ve been discussing over the last couple of weeks, Donor-Advised Funds (DAFs) are a powerhouse of potential support (to the tune of $120 billion) that are already designated for charitable purposes. However, they are often complicated to access, identify and solicit. We first reviewed the basics of DAFs and then got some best practices for stewarding the Donor-Advisors and their philanthropic advisors. So today, I’m going to share some examples of effective communication and stewardship that I hope will help you on your own journey with your DAF donors!
The Unexpected Gift
One organization that we work with is diligent about keeping their local community foundation up to date on their operations, short-term needs, long-term goals and their impact in the community. Thanks to their good stewardship of this relationship, the community foundation’s philanthropic advisor knew exactly who to turn to when a Donor-Advisor expressed an interest in supporting a particular project at an organization such as theirs. The organization was able to provide specific information, including a budget and expected outcomes, to the philanthropic advisor which resulted in an unexpected gift of $50,000 for special equipment!
Maintaining a strong relationship and open communication with philanthropic advisors WILL pay out in the long run!
An Unforgettable Visitor Experience
We have participated in countless feasibility studies with representatives of community foundations and wealth advisors who give us tips to help our clients navigate the unique relationships with Donor-Advisors. Many times, we have passed along a recommendation to host a tour of your campus or facility to their interested Donor-Advisors. In fact, one organization we worked with did just this and ended up with a $15,000 gift!
By creating an unforgettable visitor experience in partnership with local philanthropic advisors, you can find new ways to access Donor-Advisors who are motivated by your mission.
Donor-Advised Funds as Peer-to-Peer Fundraising
We recently had the pleasure to introduce a client to a wonderful community philanthropist. Upon learning about a new project and making her own commitment, she shared the project with her sister whom she felt would also be interested. Her initiative resulted in a $200,000 gift being made through her sister’s Donor-Advised Fund!
Sometimes your current donors can provide insight just as a philanthropic advisor would to a Donor-Advisor. It is so important to keep your donors up to date on your operations, special projects and long-term goals. They are your greatest ambassadors and the only ones who can share the powerful message: “This cause is important to me. Will you join me?”
If you still have questions about Donor-Advised Funds and how to leverage them, reach out to me here and I’d love to help you! And check back soon to get more info on some frequently asked questions relating to all things DAF-related!
