Boston-based Constancy Charitable has introduced that its donor-advised funds awarded a report $7.28 billion in grants in 2019, a rise of 39 % on a year-over-year foundation and of greater than 500 % in contrast with 2010.
In line with the group’s 2020 Giving Report (32 pages, PDF), sturdy inventory market returns contributed to the outcome, with donors recommending 1.5 million grants to 155,000 charities in 2019, up from 840,000 grants to 142,000 charities in 2018. The variety of DAF accounts at Constancy Charitable has greater than doubled since 2009, to 138,019 in 2019, up 12 % from 123,114 in 2018. The report additionally notes that whereas donors beneath the age of 40 make up solely eight % of all account holders, millennials have been chargeable for 13 % of latest accounts opened in 2019, greater than double their share in 2014; that the nonprofits receiving grants really helpful by the biggest variety of millennial donors’ accounts in 2019 have been Deliberate Parenthood, the ACLU Basis, the Wikimedia Basis, Docs With out Borders USA, and the Refugee and Immigrant Middle for Training and Authorized Companies (RAICES); and that the nonprofits with the very best development charges in assist from millennials final yr have been the Environmental Protection Fund, ProPublica, the American Most cancers Society, the Nature Conservancy, and the Nationwide A number of Sclerosis Society.
There have been no vital adjustments in 2019 within the prime twenty charities receiving assist from the biggest variety of Constancy Charitable accounts, whereas 74 % of all grants awarded went to a charity the donor had beforehand supported. When it comes to subject space, schooling has persistently acquired probably the most grant (27 %) on a year-to-year foundation since Constancy Charitable launched its Giving Report in 2013, whereas faith persistently has acquired the biggest variety of grants (27 %). In line with the report, 60 % of grant suggestions in 2019 have been designated for use “the place wanted most,” whereas the typical quantity of a grant awarded from a donor-advised account has elevated from $three,399 to $four,358 since 2010. And of each $100 contributed to a donor-advised account, $38 was granted out inside a yr, $76 inside 5 years, and $88 inside ten years.
The report additionally notes that 62 % of charitable contributed to Constancy Charitable DAF accounts in 2019 have been within the type of non-cash property, together with publicly traded securities resembling shares, bonds, and mutual funds (53 %) and non-publicly traded property resembling non-public inventory, restricted inventory, and restricted partnership pursuits (9 %).