Daffy is a not-for-profit, donor-advised fund (DAF) that is revolutionizing the way we give to charities. With a focus on making giving a habit, Daffy provides a platform for members to contribute to their Daffy funds using cash, debit/credit cards, stocks/ETFs, or crypto. These funds can then be donated to over 1.5 million charities across the US, all from the convenience of a mobile app or website.
Daffy donors are proactive and intentional about their giving, setting annual donation goals. The platform makes it easy to automate recurring donations, disbursing them regularly based on the donor's chosen schedule. Currently, donations are sent to charities via US Mail, but Daffy plans to add ACH transfers soon. Importantly, Daffy does not take donation transaction fees, ensuring 100% of all donations go directly to charities.
Daffy also offers a unique program for employers, Daffy for Work. This program leverages the success of the 401(k) to encourage employees to give. With Daffy for Work, every employee has access to a free, personal donor-advised fund. Employees can choose how much to put aside for charity, receiving an immediate charitable deduction for every contribution. The money is then invested in a selection of tax-free portfolios, compounding over time, and available whenever they feel inspired to make a donation.
Employers can encourage giving by either matching contributions to employee accounts or by making direct contributions to their employee accounts. Unlike complicated and under-utilized charitable gift matching programs, Daffy for Work offers a simple and elegant way for companies to show their employees that they care about giving.
In conclusion, Daffy is a great option for a DAF. It not only simplifies and encourages regular giving but also provides a platform for employers to foster a culture of giving in their organizations. With Daffy, giving to charity becomes a habit, not a one-off event.