DAFs and Capital Campaigns: What New Research Tells Us

Donor advised funds (DAFs) are reshaping major gift fundraising. The number of DAF accounts continues to grow. DAF grants now represent over 10 percent of all charitable contributions in the United States. And yet, many fundraisers are still adjusting to the unique rhythms of DAF fundraising.

A new report, Reinventing the Cycle: Adapting Relationship Fundraising for Donors Who Use DAFs, by the DAF Research Collaborative, offers the clearest picture yet of how DAFs are changing every stage of the fundraising cycle.

Based on interviews with 46 experienced fundraisers, the study shows how DAFs affect everything from donor discovery to stewardship.

It also outlines why capital campaign fundraisers should be paying attention.

Why Capital Campaigns and DAFs Work Well Together

DAFs often appeal to donors who are already thinking strategically about their giving. Many have made significant contributions to their fund, received the tax benefit, and are now looking for meaningful ways to put those dollars to use. In the report, fundraisers described feeling more confident when soliciting DAF donors, knowing the money was already designated for charitable purposes.

That has clear implications for capital campaigns, which are structured around large, intentional gifts. DAF donors often exhibit the same behaviors that make capital campaign prospects strong candidates. They want to have an impact. They think about their philanthropy proactively. They ask strategic questions. They are ready for deeper conversations about how their giving aligns with mission.

The study also makes clear that DAFs are not limited to ultra-wealthy donors. Nearly half of all DAF accounts hold less than $50,000. While DAF donors are often assumed to be high-capacity givers, they are becoming more diverse in both financial background and motivation. For capital campaigns, this creates more opportunities to engage donors who may already be giving through DAFs, even if they have not yet made a visible major gift.

How DAFs Are Reshaping the Fundraising Cycle

The report introduces a new framework called the “DAF Donor Relationship Management Cycle.” This model reflects the way fundraisers adapt their work at every stage when DAFs are involved. Campaign fundraisers must:

• Identify donor intent and identity when gifts are processed through third-party institutions
• Track and credit DAF gifts properly in donor databases
• Educate donors on legal restrictions tied to pledges and personal benefits
• Assist with DAF logistics and ensure the donor experience is seamless
• Initiate conversations about long-term and planned giving, including succession planning

Fundraisers described five distinct roles they often take on with DAF donors: investigator, strategist, educator, facilitator, and collaborator. These roles mirror the skill set required in capital campaigns, though DAF fundraising introduces added layers of administrative and relationship complexity.

What This Means for Capital Campaign Strategy

DAF donors are wonderful prospects for campaigns. But that support does not come automatically. Fundraisers need to approach DAF donors with a plan that reflects the structure and nuances of DAF giving.

4 Steps to Strengthen Campaign Readiness with Regard to DAFs

To strengthen your campaign readiness, consider these four steps:

1. Ask early about DAFs. Make this part of your discovery process with every major donor prospect. If someone gives through a DAF, knowing that upfront helps you plan your approach more effectively.
2. Train your team. From data entry to stewardship, everyone involved in your campaign should understand how DAFs work and what is required to manage them properly.
3. Segment and track DAF donors in your CRM. DAF donors often follow consistent giving patterns. Keeping a record of DAF behavior can improve solicitation timing and stewardship follow-up.
4. Be clear and confident when making the ask. Many DAF donors are looking for well-structured opportunities to give. They appreciate transparency, and they are often ready for a detailed conversation about gift use and impact.

DAFs are changing how relationships are built, how gifts are processed, and how donors make decisions. Campaign fundraisers who rely on outdated strategies will struggle to keep pace. Those who understand the structure of DAFs and adapt accordingly will be better equipped to secure meaningful gifts.

This report makes a strong case for treating DAF fundraising as a specialized discipline, not an afterthought. If your campaign plans do not yet account for DAF strategy, this is the time to make those adjustments.