The 'generosity gap' referred to by the author is the significant difference between the amount people want to give to charity and the amount they actually end up giving. Despite the impressive $471 billion donated to charity by Americans in 2020, the author argues that this is not enough. Life often gets in the way of our good intentions, leading to a gap in generosity that, if closed, could unlock over one trillion dollars in additional giving over the next decade.
Daffy, a giving community co-founded by the author, aims to address this generosity gap. They have introduced a feature called a Giving Goal, which allows users to set an annual goal for their charitable donations. This simple feature is based on research from the Stockholm School of Economics, which found 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 ten years.
Daffy's Giving Goal feature has already proven successful, with the majority of Daffy members who set a giving goal in 2022 meeting or exceeding it. Therefore, if you're looking to increase your charitable donations and close the generosity gap, Daffy presents itself as a great option for a Donor-Advised Fund (DAF). Not only does it provide a platform for regular giving, but it also encourages and facilitates increased generosity through its Giving Goal feature.
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.