Donor-Advised Funds in the United States
1,401 foundations$75.2B annual giving$736.7B in assets$19K median grant51 states
Donor-advised fund (DAF) sponsors manage charitable accounts where donors contribute assets, receive an immediate tax deduction, and recommend grants to nonprofits over time.
Donor-Advised Funds Grantmaking at a Glance
Foundations
1,401
Total Annual Giving
$75.2B
Total Assets Under Management
$736.7B
Median Grant Size
$19K
States with Funders
51
Largest Donor-Advised Funds Foundations
| Foundation | Location | Annual Giving | Total Assets | Median Grant | NTEE | Scope |
|---|---|---|---|---|---|---|
| FIDELITY INVESTMENTS CHARITABLE GIFT FUND | BOSTON, MA | $15.1B | $86.3B | — | S500 | unknown |
| DONOR ADVISED CHARITABLE GIVING INC | SAN FRANCISCO, CA | $8.6B | $47.5B | $17K | T300 | National |
| NATIONAL PHILANTHROPIC TRUST | JENKINTOWN, PA | $6B | $56.1B | $22K | T500 | National |
| Silicon Valley Community Foundation | Mountain View, CA | $4.9B | $12.3B | $55K | T31 | National |
| AMERICAN ONLINE GIVING FOUNDATION INC | NEWARK, DE | $3.6B | $269.5M | $13K | T30 | National |
| VANGUARD CHARITABLE ENDOWMENT PROGRAM | SOUTHEASTERN, PA | $3.4B | $27.3B | $16K | T700 | National |
| GS DONOR ADVISED PHILANTHROPY FUND FOR WEALTH MANAGEMENT INC | NEW YORK, NY | $2B | $12.7B | $25K | T30 | National |
| BANK OF AMERICA CHARITABLE GIFT FD | BOSTON, MA | $1.8B | $5.1B | $784.7M | T700 | Local |
| The Chicago Community Trust | Chicago, IL | $1.4B | $6B | $25K | T310 | National |
| THE AYCO CHARITABLE FOUNDATION | COHOES, NY | $1.3B | — | $15K | T300 | National |
FIDELITY INVESTMENTS CHARITABLE GIFT FUND
BOSTON, MA
Annual Giving
$15.1B
Total Assets
$86.3B
Median Grant
—
S500unknown
DONOR ADVISED CHARITABLE GIVING INC
SAN FRANCISCO, CA
Annual Giving
$8.6B
Total Assets
$47.5B
Median Grant
$17K
T300National
NATIONAL PHILANTHROPIC TRUST
JENKINTOWN, PA
Annual Giving
$6B
Total Assets
$56.1B
Median Grant
$22K
T500National
Silicon Valley Community Foundation
Mountain View, CA
Annual Giving
$4.9B
Total Assets
$12.3B
Median Grant
$55K
T31National
AMERICAN ONLINE GIVING FOUNDATION INC
NEWARK, DE
Annual Giving
$3.6B
Total Assets
$269.5M
Median Grant
$13K
T30National
VANGUARD CHARITABLE ENDOWMENT PROGRAM
SOUTHEASTERN, PA
Annual Giving
$3.4B
Total Assets
$27.3B
Median Grant
$16K
T700National
GS DONOR ADVISED PHILANTHROPY FUND FOR WEALTH MANAGEMENT INC
NEW YORK, NY
Annual Giving
$2B
Total Assets
$12.7B
Median Grant
$25K
T30National
BANK OF AMERICA CHARITABLE GIFT FD
BOSTON, MA
Annual Giving
$1.8B
Total Assets
$5.1B
Median Grant
$784.7M
T700Local
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Donor-Advised Funds(locked)
Where Donor-Advised Funds Funders Are Located
Top 15 states by foundation count
| State | Foundations | Total Annual Giving | ||
|---|---|---|---|---|
| California | 240 | $16.2B | View all in California | |
| New York | 99 | $6.1B | View all in New York | |
| Pennsylvania | 71 | $9.8B | View all in Pennsylvania | |
| Massachusetts | 69 | $18.8B | View all in Massachusetts | |
| Illinois | 67 | $1.9B | View all in Illinois | |
| Texas | 64 | $1.4B | View all in Texas | |
| District of Columbia | 60 | $2B | View all in District of Columbia | |
| Ohio | 53 | $2.3B | View all in Ohio | |
| Michigan | 45 | $356.8M | View all in Michigan | |
| Washington | 44 | $301.5M | View all in Washington | |
| Colorado | 43 | $561.2M | View all in Colorado | |
| Indiana | 41 | $1.3B | View all in Indiana | |
| Florida | 38 | $1.9B | View all in Florida | |
| Virginia | 37 | $1B | View all in Virginia | |
| North Carolina | 32 | $1.1B | View all in North Carolina |
What Gets Funded in Donor-Advised Funds
Top Cause Areas
Philanthropy & Voluntarism
751$55.2B
Philanthropy & Voluntarism751 · $55.2B
Mutual & Membership Benefit
84$392.1M
Mutual & Membership Benefit84 · $392.1M
Education
81$355.5M
Education81 · $355.5M
Human Services
72$351.1M
Human Services72 · $351.1M
Community Improvement
60$15.5B
Community Improvement60 · $15.5B
Health Care
44$458.9M
Health Care44 · $458.9M
Environment
35$299.6M
Environment35 · $299.6M
Public Affairs
28$33.7M
Public Affairs28 · $33.7M
Housing & Shelter
27$104.8M
Housing & Shelter27 · $104.8M
Arts, Culture & Humanities
27$68.9M
Arts, Culture & Humanities27 · $68.9M
CategoryFundersGiving
Typical Grant Profile in Donor-Advised Funds
Median Grant Size
$19K
New Grantee Rate
N/A
Accept Unsolicited Proposals
N/A
Most Recent Filing Year
2026
The typical Donor-Advised Funds foundation awards grants of $19K.
Frequently Asked Questions About Donor-Advised Funds
What is a donor-advised fund?
A donor-advised fund (DAF) is a charitable giving vehicle administered by a sponsoring organization. Donors contribute cash, securities, or other assets to the fund, receive an immediate tax deduction, and then recommend grants to qualified nonprofits over time. DAF sponsors include national organizations like Fidelity Charitable and Schwab Charitable, community foundations, and single-issue funds.
How many donor-advised funds are in the US?
There are 1,401 donor-advised funds registered in the United States across 51 states, based on the most recent IRS 990 filings.
What is the average grant from a donor-advised fund?
The median grant size from donor-advised funds is $19K. Actual grant amounts vary widely based on the foundation's asset size, focus area, and giving strategy.
How do I apply to a donor-advised fund?
DAF sponsors don't accept unsolicited grant proposals — grants are recommended by individual donors who hold accounts. The best approach is to build relationships with individual donors who use DAFs. You can identify potential DAF donors by researching your existing supporter base or using Kindora's foundation directory to find DAF sponsors active in your focus area.
What are the largest donor-advised funds?
The largest donor-advised funds by annual giving include FIDELITY INVESTMENTS CHARITABLE GIFT FUND, DONOR ADVISED CHARITABLE GIVING INC, NATIONAL PHILANTHROPIC TRUST, with combined giving of $29.7B.
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