JENKINTOWN, Pa., Dec. 16, 2010 /PRNewswire/ -- In spite of a weak economy and record declines in charitable donations, a new survey by National Philanthropic Trust (NPT) reveals that the number of donor-advised fund (DAF) accounts continued to grow in 2009 and continues to surpass the number of other long-established charitable giving vehicles such as private foundations.
Designed to track key trends in philanthropic giving, NPT's Donor-Advised Fund Report is an annual survey and analysis of 331 charitable organizations' publicly-available records. NPT is an independent public charity dedicated to helping donors, foundations and financial institutions realize their charitable goals through the use of DAFs.
"We believe that the number of donor-advised fund accounts will continue to increase because donors want flexibility and results for their philanthropic investment," said Andrew Hastings, Vice President of Business Development for NPT. "Next year, we expect donor-advised funds to make marked gains in assets, grants, contributions and new accounts."
Key findings of NPT's 2010 Donor-Advised Fund Report:
- The number of DAFs increased for the fifth straight year. It was up by 3 percent despite a decrease in total contributions.
- DAFs now outnumber private foundations by more than two to one.
- The total value of grants from donor-advised funds exceeded the total value of contributions into donor-advised funds.
NPT studied 331 charitable organizations that administer donor-advised funds, relying on data collected during the second and third quarters of 2010 from public tax returns (IRS Form 990), audited financial statements, annual reports, and surveys, as well as other public sources.
About National Philanthropic Trust
National Philanthropic Trust (NPT) is an independent, nationally-recognized charity whose mission is to increase charitable giving in our society. NPT accomplishes this mission by providing services that assist donors in the complex process of giving. Founded in 1996, NPT has been among the 100 fastest growing charities since 2003, having raised more than $2 billion in charitable assets, and making over 44,000 grants valued at $1 billion to U.S. and international charities. For more information, visit www.nptrust.org.
SOURCE National Philanthropic Trust