Daffy and Chariot Team Up to Simplify DAF Transfers
A little less than three years ago, Daffy set out on a mission to help people be more generous, more often, by leveraging donor-advised funds (DAFs) to help people set money aside for charity. Our focus at launch was not the 1M+ Americans who already had DAFs, but the estimated 50-60 million Americans who give to charity every year.
Imagine our surprise when we suddenly received requests from members interested in transferring part or all of their existing DAFs to Daffy, drawn by our modern technology, native mobile app, and flat, monthly membership fee structure. We scrambled, and within a few weeks launched the ability to transfer funds by making a grant from an existing DAF provider to Daffy.
In 2023, the median DAF transfer to Daffy was $10,000, with transfers ranging from as little as $100 to as much as $5.5 million. Some members transfer a small amount of money to try us out. Other members transfer money to us regularly, preferring our app as a way to give whenever they are inspired. And of course, we have quite a few members who transfer their full balance to us given our low fees and innovative features.
DAF transfers have become so common that we decided there had to be a way to make them even simpler. Fortunately, we found a willing partner in Chariot, who shared our vision to use modern technology to help people be more generous.
Today, we’re excited to announce that we’ve integrated Chariot’s DAFpay™️ feature, an innovative payment option, into Daffy, making it even easier for our members to transfer part or all of their existing donor-advised funds to Daffy.
How It Works
If you’re already a Daffy member, simply go to “Add Funds,” select “Donor-advised fund transfer,” and choose your existing DAF provider. If your provider is one of the 200+ supported by Chariot’s DAFpay™️, you’ll be prompted to sign in to your account. This allows you to transfer part or all of your existing DAF to Daffy in seconds—all without leaving the Daffy platform.
The best part? Every dollar you transfer to Daffy results in lower fees for you and more money available to give to the organizations and causes you support.
A Better Giving Experience
Whether you’re just opening a donor-advised fund or are ready to make the switch from an existing donor-advised fund provider, Daffy is here for you.
In addition to no hidden fees and lower annual costs (see how much money you’d save with Daffy using our free calculator), Daffy comes with a host of benefits you won’t find with other donor-advised fund providers. Here’s what else you can expect when you choose to give through Daffy:
- One flat monthly membership fee. No hidden AUM fees or additional management fees for investment portfolios.
- A portfolio for everyone. Daffy offers 15 pre-approved, expertly crafted portfolios with various risk levels and investments, including money market funds, inflation-protected bonds, equities, bonds, and pure crypto with exceptionally low expense ratios. If that wasn’t enough, you can also request a custom portfolio of up to 10 ETFs from a selection of over 460 low-cost ETFs from the best providers in the industry, tailored to your giving strategy.
- Crypto contributions and investments. Members can contribute more than 200 different types of crypto, and they can also select one of our diversified or pure-play crypto portfolios custodied at Coinbase.
- Involve your family in giving. With Daffy for Families, your kids, siblings, or other family members can help make a difference alongside you. Actions speak louder than words, and Daffy lets you help make giving a teachable moment for everyone in your family.
- A full-featured mobile app. Send donation recommendations from your phone whenever inspiration strikes.
Ready to make the switch? Transferring your DAF to Daffy is now easier than ever. Join our growing community of thousands of generous members and see how Daffy can enhance your giving experience today.