Donor Advised Fund (DAF) & Chariot Integration FAQ
What is a Donor Advised Fund (DAF)?
A Donor Advised Fund (DAF) is a tax-incentivized investment account for charitable giving. Donors contribute funds to the account, those funds get invested, and money generated from the account is given to designated nonprofit recipients. Learn more here.
What is Chariot?
Chariot allows nonprofits to accept DAF donations directly on their website, helping them tap into the $234B DAF market. Learn more about Chariot here.
How does the Chariot Integration work?
With the Chariot's integration, nonprofits can now accept DAF donations directly within The Giving Block's donation forms. To see the DAF donation process overview, please see this article on How a DAF Donation Works.
How can nonprofits access a CSV report to view Chariot DAF donations?
With the dashboard's user-friendly interface, accessing a comprehensive list of donations is a breeze. To generate this report, simply navigate to the Dashboard, locate the donation button on the left-hand side, and select the Transactions CSV Report option. A Chariot DAF donation will be included in your CSV report under the designated 'Payment Type' column, labeled as DAF for easy identification.
What is the cost to use the Chariot integration?
There is no additional cost or set-up fee to use Chariot if you are a customer of The Giving Block.
What is the processing fee for DAF donations?
Chariot charges a 2.9% processing fee on each DAF donation to cover administrative costs.
Will the fee be automatically deducted?
No; By design, the full gift amount will be transferred directly from the DAF to you, the nonprofit recipient. Neither TGB nor Chariot will handle the funds. The processing fee is charged only after the donation is sent out and will be billed to you by The Giving Block each month, as long as the fee amount exceeds the $10 minimum. Should the fee amount not exceed the $10 minimum, your fees will be withheld until the $10 minimum is met.
Can donors cover the processing fee?
Yes! When donors choose to cover the fee, the donation will be increased by that amount. Your nonprofit will receive the full amount (donation + fee, rounded to the nearest whole dollar) and be invoiced by TGB monthly for the fee amount. This will be rounded to the nearest whole dollar as DAF providers can't process donations in cents.
For example: If a donor covers fees on a $100 DAF donation, the nonprofit will receive $103 (2.9% fee, rounded up to the nearest whole dollar). After receiving the donation, the nonprofit will be billed $2.90 for the processing fee.
How will nonprofits receive their DAF donations?
- Your organization will receive DAF donations in the same way you are used to - either via check or ACH. Depending on the donors DAF provider, checks can take anywhere from 1-3 weeks to receive. Each donation will have an associated Chariot ID listed in the grant note that you can match to the corresponding donation in your TGB dashboard. This Chariot ID will also be listed on your DAF processing fee invoice. View a sample of the DAF check you'll receive here.
- Receiving donations by ACH is currently only available through Fidelity Charitable. To set this up and expedite the transfer (1-5 days), email integrations@thegivingblock.com
Who is eligible to receive DAF donations via Chariot?
US 501c3 nonprofits in good standing
What do I need to do to activate the Chariot Integration?
Nothing! The Chariot Integration will be activated for all US-based clients of TGB, unless you tell us otherwise.
What terms and conditions apply to the Chariot Integration?
Chariot's standard customer terms, which are incorporated as an appendix to TGB's standard customer terms, available here, will apply to all donations using the Chariot Integration.
Will CRM integrations support DAF donation data? If so, which ones?
Yes - All TGB CRM integrations, including Salesforce, Zapier and Blackbaud connections.
Can nonprofits opt out of the Chariot DAF Integration?
If you would like to opt out of the Chariot Integration, please fill out this form