JENKINTOWN, PA — The National Philanthropic Trust (NPT), the largest independent public charity managing donor-advised funds (DAF), has reported a record-breaking year in grantmaking. In 2023, NPT granted $4.94 billion to qualified charities across the U.S. and 51 other countries, marking an unprecedented 196% increase from $1.67 billion in 2019, the last full calendar year before the COVID-19 pandemic.
Accompanying this significant growth in grant value, NPT donors recommended a historic 119,801 grants – a 91% increase from 2019 – to over 39,035 charitable organizations, marking a 65% rise in the number of charities receiving grants.
While the charitable giving growth in 2023 was more modest compared to the peak years of the pandemic, 2020 and 2021, it exceeded all key benchmarks set in 2019. “The 2023 NPT grantmaking data affirms that DAF donors have sustained generosity,” said Eileen Heisman, CEO of National Philanthropic Trust.
This surge in donor grantmaking between 2019 and 2023 was observed across all eight charitable subsectors: Arts and Culture, Education, Environment and Animals, Health, Human Services, International, Religion, and Society Benefit, each experiencing double or triple-digit growth in both value and volume.
Despite the global economic uncertainty at the start of 2023, the year concluded with rebounding markets, reduced inflation, positive news on key financial indicators, and the Federal Reserve hinting at lower interest rates. Heisman sees this as an opportunity for charitable organizations to engage with new and existing DAF donors, laying the groundwork for future growth to support critical community work.
Donor-advised funds account for a significant portion of donations for many organizations. “Currently DAFs account for over 10% of our donations, which is extremely important to the work we do every day in our community,” said Tyler Stratton, Associate Director of Youth Programs at Greater Chicago Food Depository.
Similarly, Matt Forti, Managing Director of One Acre Fund, stated that close to 25% of their donations come from DAFs. “Our donors with DAFs are reliable and committed to our organization, which now more than ever is extremely helpful and gratifying,” he said.
NPT’s affiliates, NPT UK and NPT Transatlantic, also reported year-over-year increases in both the value and volume of grantmaking in 2023, further indicating the sustained generosity of DAF donors.
Since its inception in 1996, NPT has raised over $57.3 billion in charitable funding and has made more than 720,000 grants exceeding $28.5 billion to nonprofits worldwide. With the latest surge in grantmaking, NPT continues to solidify its position as a leading institution in philanthropy, providing crucial support to charities in an ever-changing economic landscape.
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