#HalfMyDAF challenge emerges to speed funds into charities in need. The push comes as California lawmakers seek to jump-start efforts to require more transparency for DAFs.
To encourage people to give more freely from their donor-advised funds in response to the coronavirus pandemic, a California couple has offered to give up to $1 million to donors’ favorite nonprofits. But there is a catch: contributions will only be made if the donors pledge to empty half of their donor-advised-fund account and direct that money to charity by September 30. The Rishers hope their match will help nonprofits of all types, not just organizations that deal directly with the fallout from the coronavirus pandemic. Some rely on in-person fundraising events that have been canceled or the largess of donors who have seen their wealth decimated by market losses. Other nonprofits have seen revenue hits because donors have gravitated to causes more directly linked to the public health or economic aspects of the crisis. "This is a way to help shape a new normal where people’s money doesn’t get put in donor-advised funds and kind of sit there but actually flows through to those nonprofits," says David Risher, who founded the nonprofit Worldreader after a career at Microsoft and Amazon.