JENKINTOWN, PA — National Philanthropic Trust (NPT), the largest independent charity managing donor-advised funds (DAFs), reached a remarkable milestone in Fiscal Year 2024 by granting $5.49 billion to charitable organizations across the globe. This represents a significant increase in charitable contributions, with NPT donors recommending over 129,000 grants to more than 41,000 organizations, marking a 21% rise in grant numbers and a 13% rise in beneficiaries compared to the previous year.
The five-year growth trajectory from Fiscal Year 2019 to 2024 is noteworthy, with the total value of NPT grants increasing by 297%. The number of grants and recipient charities grew by 149% and 101%, respectively, during this period. CEO Holly Welch Stubbing emphasized the crucial role of DAFs in philanthropy, stating, “Inflation and higher interest rates continued to play a role in all sectors of the U.S. economy…NPT DAF donors responded to the growing needs of charitable organizations by increasing their generosity.”
Unrestricted grants now make up nearly half of NPT’s grantmaking, providing essential flexibility for charitable organizations to allocate funds where needed most. Testimonials from organizations like the Kalmar Nyckel Foundation and Good Friend Inc. underscore the importance of DAF donors. Amy Bielicki praised the impact of unrestricted DAF grants on their educational mission, while Allison Katula highlighted the reliability and intentionality of DAF donors.
NPT’s affiliates, NPT UK and NPT Transatlantic, also reported increases in both the volume and value of grantmaking, reinforcing the vital role DAFs play in supporting global charitable missions.
For the latest news on everything happening in Chester County and the surrounding area, be sure to follow MyChesCo on Google News and MSN.