Setting a goal to give can significantly increase the amount given to charity. This is a concept that we at Daffy have embraced wholeheartedly. We've identified a "Generosity Gap" between what people intend to give and what they actually give. To bridge this gap, we introduced a feature called the Giving Goal, which allows you to set an annual goal for your charitable donations.
Research from the Stockholm School of Economics shows that setting a giving goal can increase charitable donations by 32%. This could potentially result in an additional $1.27 trillion being donated to charity over the next decade. Furthermore, the majority of Daffy members who set a giving goal in 2022 either met or exceeded it.
So, how can you be more generous in 2023? Here are some steps to guide you:
1. Set a giving goal: Decide how much you want to donate to charity. Any amount is a great starting point. The key is to establish the habit of giving.
2. Automate your tax-deductible contributions: Once you've set your giving goal, Daffy makes it easy to set aside money for charity, just like saving for retirement. You can choose how often you want to make tax-deductible contributions to your Daffy fund and we'll automate the rest for you.
If you're unsure about how much to give, Daffy can help you with our Giving Goal Calculator. You can choose a fixed amount or calculate a number based on a percentage of your income. We even provide data on the average household donations in your city to guide your choices.
In conclusion, setting a giving goal not only increases the amount given to charity but also makes the act of giving a regular part of your life. With Daffy, you can easily set, track, and achieve your giving goals, making us a great option for a Donor-Advised Fund (DAF).
Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.