Donor-Advised Funds in the United States
1,455 foundations$75.1B annual giving$639.3B in assets$18K 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
1,455
Total Annual Giving
$75.1B
Total Assets Under Management
$639.3B
Median Grant Size
$18K
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 | National |
| 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 |
| AMERICAN ONLINE GIVING FOUNDATION INC | NEWARK, DE | $4B | $445.3M | $13K | T30 | National |
| VANGUARD CHARITABLE ENDOWMENT PROGRAM | SOUTHEASTERN, PA | $3.4B | $27.3B | $16K | T700 | National |
| Silicon Valley Community Foundation | Mountain View, CA | $3.2B | $12.3B | $55K | T31 | National |
| GS DONOR ADVISED PHILANTHROPY FUND FOR WEALTH MANAGEMENT INC | NEW YORK, NY | $3B | $12.7B | $25K | T30 | National |
| THE AYCO CHARITABLE FOUNDATION | COHOES, NY | $1.3B | — | $15K | T300 | National |
| AMERICAN ENDOWMENT FOUNDATION | HUDSON, OH | $1.3B | $8.4B | $15K | T31 | National |
| MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC | INDIANAPOLIS, IN | $1.2B | $9.1B | $10K | T90 | National |
FIDELITY INVESTMENTS CHARITABLE GIFT FUND
BOSTON, MA
Annual Giving
$15.1B
Total Assets
$86.3B
Median Grant
—
S500National
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
AMERICAN ONLINE GIVING FOUNDATION INC
NEWARK, DE
Annual Giving
$4B
Total Assets
$445.3M
Median Grant
$13K
T30National
VANGUARD CHARITABLE ENDOWMENT PROGRAM
SOUTHEASTERN, PA
Annual Giving
$3.4B
Total Assets
$27.3B
Median Grant
$16K
T700National
Silicon Valley Community Foundation
Mountain View, CA
Annual Giving
$3.2B
Total Assets
$12.3B
Median Grant
$55K
T31National
GS DONOR ADVISED PHILANTHROPY FUND FOR WEALTH MANAGEMENT INC
NEW YORK, NY
Annual Giving
$3B
Total Assets
$12.7B
Median Grant
$25K
T30National
AMERICAN ENDOWMENT FOUNDATION
HUDSON, OH
Annual Giving
$1.3B
Total Assets
$8.4B
Median Grant
$15K
T31National
MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC
INDIANAPOLIS, IN
Annual Giving
$1.2B
Total Assets
$9.1B
Median Grant
$10K
T90National
Explore Donor-Advised Funds
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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 | 253 | $14.5B | View all in California | |
| New York | 103 | $6.9B | View all in New York | |
| Pennsylvania | 76 | $9.8B | View all in Pennsylvania | |
| Texas | 72 | $1.3B | View all in Texas | |
| Massachusetts | 70 | $18.9B | View all in Massachusetts | |
| Illinois | 68 | $1.6B | View all in Illinois | |
| Ohio | 57 | $2.4B | View all in Ohio | |
| Washington | 47 | $347.1M | View all in Washington | |
| Michigan | 46 | $353.6M | View all in Michigan | |
| Colorado | 46 | $713M | View all in Colorado | |
| Florida | 43 | $2B | View all in Florida | |
| District of Columbia | 42 | $1.4B | View all in District of Columbia | |
| Indiana | 41 | $1.4B | View all in Indiana | |
| North Carolina | 35 | $1.1B | View all in North Carolina | |
| Missouri | 34 | $826.6M | View all in Missouri |
What Gets Funded in Donor-Advised Funds
Top Cause Areas
Philanthropy & Voluntarism
823$56.4B
Philanthropy & Voluntarism823 · $56.4B
Mutual & Membership Benefit
94$328.1M
Mutual & Membership Benefit94 · $328.1M
Education
81$372.4M
Education81 · $372.4M
Human Services
74$224.5M
Human Services74 · $224.5M
Community Improvement
50$15.3B
Community Improvement50 · $15.3B
Public Affairs
38$91M
Public Affairs38 · $91M
Health Care
35$371.9M
Health Care35 · $371.9M
Arts, Culture & Humanities
29$84.4M
Arts, Culture & Humanities29 · $84.4M
Housing & Shelter
25$64.4M
Housing & Shelter25 · $64.4M
Environment
25$92M
Environment25 · $92M
CategoryFundersGiving
Typical Grant Profile in Donor-Advised Funds
Median Grant Size
$18K
New Grantee Rate
N/A
Accept Unsolicited Proposals
N/A
Most Recent Filing Year
2026
The typical Donor-Advised Funds foundation awards grants of $18K.
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 1,455 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 $18K. 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 funder database 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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