Maybe you’ve heard of DAFs, but do you understand them?
There are several common misconceptions about DAFs, such as who uses them and how they work.
In this eye-opening episode, Glennda Testone welcomes Mitch Stein, Head of Strategy at Chariot, to pull back the curtain on Donor-Advised Funds. From the surprising truth about who uses DAFs to the game-changing potential they offer nonprofits, this episode is your crash course in one of the fastest-growing forms of philanthropy.
Mitch walks us through how DAFs work (think “philanthropy savings account”), explains why they’re not just for the wealthy, and highlights brand-new tax policy changes that could spark a major uptick in DAF usage. Together, Glennda and Mitch bust several myths, including the idea that DAF donors are always anonymous and that only major gift officers should care about them.
They also preview DAF Day (October 9, 2025), offer concrete advice for donors and nonprofits alike, and share some insider tips that could dramatically boost your fundraising results.
KEY QUOTES:
“It’s a lot like a 401(k) for retirement…You now have this dedicated pool of funds that you’ve already committed to giving. You’ve taken the hard budget step out of the way, and now you get to focus on what you want to support, what you care about, making a difference, feeling the joy of giving.” – Mitch Stein
“There was over $1 billion in DAF giving…69% of them were below $1,000.” – Mitch Stein
“Go to your website and look up your EIN. If you cannot find it within three seconds, you just lost a DAF donor.” – Mitch Stein
TUNE IN TO LEARN:
- What a donor-advised fund (DAF) is and how it works
- Why DAFs aren’t just for billionaires
- Common myths and mistakes nonprofits make around DAFs
- What DAF Day is and how to use it to grow donor engagement
- Why putting your EIN on your website is a tiny step with big returns
- Actionable steps for donors, nonprofit leaders, and DAF providers
ABOUT MITCH STEIN:
Mitch is the Head of Strategy at Chariot, a financial technology company focused on Donor Advised Fund payments. He leads the company’s major sector-wide initiatives like The DAF Fundraising Report, DAF Day, and has been a featured speaker at dozens of conferences and workshops. Prior to joining Chariot, he founded a nonprofit technology company called Pond, which was a marketplace to connect nonprofits with the best vendors for their needs. Before that, he was an investment banker at Goldman Sachs for 7 years, most recently serving as a Vice President in the Technology Banking team.
He is an avid nonprofit fundraiser, serving on the board of The NYC LGBT Center, and a longtime rider on Cycle for the Cause, The Northeast AIDS Ride.
RESOURCES:
- Mitch Stein LinkedIn
- Nonprofit Leadership Lab
- Joan Garry’s Guide to Nonprofit Leadership – 2nd Edition by Joan Garry
- FREE WORKSHOP: Let’s Build the Nonprofit Board of Your Dreams!
- FREE WORKSHOP: The 5 Practices of Outstanding Nonprofit Leaders
- Music by Jukebox the Ghost
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