Annual DAF Report 2025
Latest Update: Spring 2026 Revised Analysis
We have released an updated analysis memo containing revised results for the 2025 Report. This update incorporates a refined list of DAF sponsors, newly released IRS Form 990 data, and limited methodological updates. These revised results are intended to replace previously reported figures to ensure stakeholders have the most up-to-date information available.
About the Report
The Annual DAF Report is produced by the Donor Advised Fund Research Collaborative (DAFRC). This report draws on Internal Revenue Service (IRS) Form 990, Schedule D data for fiscal year (FY) 2024 to provide aggregate data on the number of DAF accounts, contributions to DAFs, grants from DAFs, DAF assets, payout rate, and average account size.
For nearly two decades, the National Philanthropic Trust compiled and published data on donor advised funds (DAFs), creating a foundational source of data for the nonprofit sector. Starting in 2025, the Annual DAF Report became independently produced by the DAFRC.
Executive Summary (Updated Spring 2026)
Donor advised funds (DAFs) are charitable giving accounts used by individuals (donor advisors) and managed by 501(c)(3) public charity sponsoring organizations (DAF sponsors). Donor advisors receive an immediate tax deduction for their contributions to the DAF and recommend grants to charities over time from the assets in the DAF. As DAFs grow in prevalence within the philanthropic landscape, accurate, neutral, and accessible information is critical to understanding their impact. The Annual DAF Report provides a reliable reference for the size, scope, and charitable activity of DAFs.
DAFs are sponsored by a wide range of nonprofit organizations. As of fiscal year (FY) 2024, there were 1,512 DAF sponsors based in the United States (US), including 103 national sponsors, 803 community foundations, and 606 single-issue charities. The report separates standard national sponsors from donation processors, a category of national sponsors that facilitate workplace giving and mass-scale online donations, so the trends in DAFs can be more easily interpreted. The report also divides single-issue charities into three categories: religiously-affiliated, higher education and healthcare, and other.
DAFs grew significantly in FY 2024. The total number of DAF accounts reached a record high of 3.59 million, driven primarily by an increase in accounts at donation processors. The number of non-donation processor accounts also continues to increase, though the rate of growth has begun to slow. Total assets in DAFs grew 27.9% from FY 2023, reaching $327.87 billion. Contributions to DAFs rebounded strongly, increasing 38.6% and totaling $90.57 billion, following a decline in FY 2023. Grantmaking from DAFs continued to rise, with a 17.9% increase, reaching $64.60 billion. The overall payout rate from DAFs remained fairly consistent with the prior year, increasing by 1.4 percentage points to 25.2%. The average account size also increased 8.0% to $91,300.
As of FY 2024, there were 1,512 DAF sponsors:
103
national sponsors
803
community foundations
606
single-issue charities
Key Findings
1,512 DAF sponsors managed 3.59 million DAF accounts in FY 2024.
Updated Total Number of DAF Accounts
Contributions to DAFs increased to $90.57 billion in FY 2024.
Updated Total Value of Contributions to DAFs ($ in billions)
Grants from DAFs increased to $64.60 billion in FY 2024.
Updated Total Value of Grants from DAFs ($ in billions)
Total DAF assets increased to $327.87 billion in FY 2024.
Updated Total Assets in DAFs ($ in billions)
Dive into the Research
Access the updated analysis memo for up-to-date information about DAFs, including detailed trends on contributions, grants, and assets, analyses broken down by sponsor type, and more.
Access the 2025 report for contextual considerations, detailed explanations of data and methods, and commentary on the findings.
Suggested Citations:
Update Memo: Heist, H. D., Vance-McMullen, D., Williams, J., Shaker, G. G., & Sumsion, R. M. (2026). The annual DAF report 2025: Updated analysis memo. Donor Advised Fund Research Collaborative. https://www.dafresearchcollaborative.org/s/Annual-DAF-Report-2025-Updated-Analysis.pdf
2025 Report: Heist, H. D., Vance-McMullen, D., Williams, J., Shaker, G. G., & Sumsion, R. M. (2025). The annual DAF report 2025. Donor Advised Fund Research Collaborative. https://doi.org/10.4087/XUGU3656
The DAFRC has partnered with GivingTuesday to create a data mart that will host regularly updated data on vetted DAF sponsors going forward. The data mart will be available soon.