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94: Donor Advised Funds: What they are and why you need to know about them with Mitch Stein
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Donor Advised Funds… maybe this topic you haven’t heard of, or maybe it’s something that exudes a bit of an eye roll. Mitch Stein, Head of Strategy at Chariot, is joining me today on the podcast to flip what you think you know about Donor Advised Funds (DAFs) upside down. He says, “... being more engaged with DAF fundraising is critical. If you're not presenting this to your donors you’re 100% missing out.” If you’re a listener of the show, I know you’d never want to leave money on the table knowingly, and this conversation will help you avoid that. Mitch is breaking down exactly what Donor Advised Funds are, how they can alleviate friction in fundraising, and some exciting innovations that are coming down the pike with fundraising technology. This episode is really exciting, and I hope that when you listen you’ll feel yourself open up to new revenues of donating.
Topics:
- A full break down of donor advised funds (DAF) and why they are important for nonprofit fundraising
- Why DAFs are not only for wealthy people and how you can make them work for you no matter your income level
- How a DAF alleviates some of the decision-making and guesswork that comes with philanthropy
- The way that DAFs reduce the friction of giving to allow for more streamlined donations
- The differences in the donor profiles between credit card donors and DAF donors
- How you’re leaving hundreds, if not thousands of dollars on the table if you’re not engaged with DAF fundraising
- Exciting innovations and shifts that Mitch is forecasting in the donorship sector
- What Mitch would say to those who are averse to intertwining different tech tools in their fundraising
- The reminder that you shouldn’t try to be for everybody
For a full list of links and resources mentioned in this episode, click here.
Connect with Christina on Instagram: @splendidconsulting
Connect with Karena on Instagram: @helloinnerlight
Bloomerang is the complete donor, volunteer, and fundraising management solution that helps thousands of nonprofits deliver a better giving experience and create sustainable, thriving organizations. Combining robust, easy-to-use technology with people-powered support and training, Bloomerang empowers nonprofits to work efficiently, improve supporter relationships, and grow their donor and volunteer bases. Learn more here.
Free Class 3/12 @ 12 PM EST: Register here.
Resources:
- Purpose & Profit Club® Coaching Program [Get on the waitlist for bonuses]
- The SPRINT Method™: Your shortcut to 10K fundraisers [details here]
- Instagram, LinkedIn, website , weekly newsletter
- [FREE] The Brave Fundraiser’s Guide: Stop getting ignored. Start raising more.
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