At Boost, we are always looking for ways to be your advancement team’s most complete payment solution. To that end, we are very excited to announce donor-advised fund gifts (DAF) as our latest payment method offered on Boost pages.
VIDEO: 3-minute overview on the Boost DAF integration
Why donor-advised funds (DAF)?
DAFs accounted for $45 billion in donations in 2022 and are the fastest-growing* giving vehicle. According to the National Philanthropic Trust there is an estimated $234.06 billion sitting in DAF charitable assets—make sure you aren’t leaving money on the table!
Initiating a DAF payment in the past involved extra steps that needed to be taken by your donor. By offering this option on your school’s Boost page, your donor can make this tax-smart gift in real time with less hassle, while still participating in challenges and leaderboards.
How does this work?
- Most major donor-advised funds are accepted, including Fidelity, Vanguard, and Schwab Charitable.
- A 2-minute demo of a gift can be found here that shows how to make a DAF gift.
What is the cost and payout schedule?
- There is no cost to turn on the DAF payment option.
- Our DAF partner (Chariot) charges DAF gifts similar to a credit card (2.9%). This will be billed separately at the start of the month after a DAF gift is initiated. We will provide instructions for this at a later date to make this easy on your team.
- DAF donations are initiated and tracked as a pledge in Boost. You will receive the funds through the DAF provider according to their normal schedule.
How do I turn this on for my school?
- For each Boost campaign, DAF is now listed as an available payment option.
- Under “Edit campaign” and then “Payment options” you will see DAF under available payment options. Switch from hidden to shown, as seen below, and hit save.
If you have any questions or would like to more, contact your Success Manager or schedule a demo today.
*According to the 2022 Report
Holman Gao
Holman is the founder and CEO of Boost My School. He actively helps his former high school with their fundraising and alumni outreach, which is how the idea for Boost My School came about. He is a strong believer in the power of education to change the world and volunteers with programs that support underrepresented students in math and science.