71% increase in value of grants made on behalf of donors highlights rising popularity of donor-advised funds in UK
LONDON, Sept. 25, 2023 /PRNewswire/ -- The National Philanthropic Trust UK (NPT UK), a leading provider of donor-advised funds (DAFs) in the UK, granted £16.2 million to charitable organisations on behalf of its donors during the 2023 Financial Year, representing a 71% increase in value compared to the previous year. The total number of grants made also increased by 35% rising to 493 from 366.
Additionally, NPT Transatlantic, a UK/ US dual qualified DAF operating out of the UK, distributed £68.3 million in grants in Fiscal Year 2023, more than doubling the value of grants from 2022 (£31.5 million) and representing a 330% increase in donations from pre-pandemic giving in 2019 (£15.9 million).
John Canady, CEO NPT UK said: "The last few years have been fraught with enormous global challenges. Our donors know just how important philanthropy is in this climate and have responded with speed and generosity. Since the pandemic and throughout the cost-of-living crisis, we have seen both the number and value of grants distributed via NPT UK DAFs increase year on year."
Canady continued: "Knowledge and usage of DAFs has steadily increased in the UK, but these figures are the clearest indication yet that the popularity of DAFs is also rising. DAFs are no longer challengers but mainstream giving vehicles. Donors are turning to NPT UK to support them with meaningful and decisive philanthropy and are using DAFs to drive impactful social change."
NPT UK and NPT Transatlantic donors recommended grants to a variety of charitable organizations in the last financial year, from those supporting international humanitarian crises, to tackling climate change, supporting children's literacy or youth employment opportunities.
About NPT UK and NPT Transatlantic
NPT UK is an independent charity providing donor-advised funds for donors in the UK and those around the world who wish to base their philanthropy from the UK. It provides expertise to philanthropists, family offices, and wealth managers from London, one of the world's leading financial centres. NPT Transatlantic is a dual qualified charity, recognized as a charitable organization in both the UK and US, providing donor-advised funds and a single-gift service for UK/US dual taxpayer donors.
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