FOR IMMEDIATE RELEASE
Amalgamated Foundation and #HalfMyDAF announce groundbreaking partnership to mobilize more charitable giving
The Amalgamated Foundation and Jennifer and David Risher, the donors behind the #HalfMyDAF campaign, announced today a partnership focused on moving more money than ever from donor advised funds to nonprofits.
Since 2020, Jennifer and David Risher—the latter of whom was tapped earlier this week as the new CEO of Lyft—have spearheaded the #HalfMyDAF campaign to urge more charitable giving. The campaign encourages holders of donor advised funds (also known as DAFs) to commit to granting at least 50% of the funds in their DAFs to charitable causes by offering hundreds of thousands of dollars in matching grants. Starting this year, the Amalgamated Foundation will sponsor the matching fund DAF, contribute to the fund and provide logistical support for the #HalfMyDAF campaign.
“The Foundation is committed to moving money quickly to the organizations confronting our most pressing challenges, so partnering with #HalfMyDAF is a perfect fit,” said Anna Fink, Executive Director of the Amalgamated Foundation. “When it comes to charitable giving, we believe in deploying resources with thoughtful urgency. Jennifer and David have done just that by inspiring so much giving through #HalfMyDAF, and we’re excited at the opportunity to partner with them, build on that success and mobilize even more resources to the frontlines of social change.”
#HalfMyDAF has successfully mobilized more than $33 million in grants from DAFs since its launch in 2020. More than $234 billion is housed in donor advised funds in the United States. Together, #HalfMyDAF and the Amalgamated Foundation hope to build on the campaign’s momentum and inspire more DAF holders to give generously to the nonprofits they support.
“David and I are thrilled to have such a values-aligned, action-oriented partner to move more charitable dollars,” said Jennifer Risher, co-founder of #HalfMyDAF. “Amalgamated measures success on amounts given rather than assets under management and has a payout rate four times the national average. That’s action, not just talk.”
As part of the partnership, the Rishers announced they will also move their personal DAF under the Amalgamated Foundation’s management and are encouraging other DAF-holders to consider doing so as well. (More information about opening a DAF with Amalgamated Foundation can be found on their website.)
The mission of the Amalgamated Foundation—the charitable arm of Amalgamated Bank—is to redefine philanthropy by empowering activism, harnessing generosity, and leveraging technology. With more than $500 million in assets under management and more than $350 million in grantmaking since its founding in 2019, Amalgamated Foundation stands apart from other DAF-providing institutions. In addition to measuring impact based on grantmaking (rather than assets under management), the Amalgamated Foundation was the first DAF provider to enact a 10% payout pledge. Because of its dedicated efforts to encourage bold grantmaking, Amalgamated Foundation’s DAF program pays out four times the average national payout rate.
Through the partnership, Matching grants for the #HalfMyDAF 2023 campaign will be held in a Donor Advised Fund through the Amalgamated Foundation. Amalgamated Foundation will facilitate the campaign’s two rounds of matching grants in June and September 2023. This will include screening grantees to prevent funds flowing to known hate groups through its unique “Hate Is Not Charitable” screen—part of a broader campaign the Amalgamated Foundation launched in 2019 to curb tax-deductible donations to organizations promoting hatred.
Donors interested in participating in #HalfMyDAF 2023 can learn more about the campaign and how to get involved on the #HalfMyDAF website.
Contact : mediainquiry@amalgamatedfoundation.org