In Canada, DAFs represent a fast-growing part of charitable assets — some say the fastest growing. A 2025 report from Dr. Sharilyn Hale and Keith Sjogren notes that assets held in Donor-Advised Funds rose to almost $10.5 billion by the end of 2023. Below are recent reports about the bad, the good and the worthy related to DAFs and DAF issues in Canada and the US.
Improving the Regulation of Canadian Foundations with Donor Advised Funds (2025), a paper by Malcolm Burrows for the Pemsel Case Foundation, examines DAFs and proposes ways to address transparency, oversight and governance issues while preserving DAFs’ philanthropic benefits. The Pemsel Case Foundation is mandated to undertake research, education and litigation interventions to help clarify and develop the law related to Canadian charities.
Impact Investing and Donor-Advised Funds: Challenges and Opportunities with a View to the Future (2025), by Dr. Sharilyn Hale and Keith Sjogren at Watermark Philanthropic Counsel, for TwinRiver Capital, answers the question: If given the opportunity, is there a desire from philanthropic actors to generate social/environmental returns now while making decisions about future giving in Canada? A 13-page summary pdf is available, as is the full report.
Empowering Philanthropy, An Overview of Donor-Advised Funds (2025) is from a working group of the Canadian Association of Gift Planners co-chaired by Malcolm Burrows and Nicola Elkins, with Keith Sjögren, the lead author. The report offers a comprehensive overview of current practices and common issues that are often experienced by foundation and charity executives, fundraisers, donors and professional advisors. The CAGP Foundation offers a suite of five practical resources, including a comprehensive guide.
Annual DAF Report 2025, by the US-based Donor Advised Fund Research Collaborative (DAFRC), draws on data from Internal Revenue Service Form 990, Schedule D, for fiscal year 2024, and provides aggregate data on the number of DAF accounts, contributions to DAFs, grants from DAFs, DAF assets, payout rate and average account size in the US.
Reinventing the Cycle: Adapting Relationship Fundraising for Donors Who Use DAFs is one of many reports from the US-based Donor Advised Fund Research Collaborative (DAFRC). The report draws on interviews with 46 professional fundraisers, and offers practical strategies for identifying, cultivating, soliciting and stewarding DAF donors. Other research focuses on Macro Trends, Donor Behavior and Management & Policy.
Influence, Affluence & Opportunity: Donor-Advised Funds in Canada (2023), a report from KCI and the CAGP Foundation, examines the relationships between charities and DAF donors and the foundations that act as intermediaries between them. It suggests strategies for charities and financial advisors to ensure they maximize engagement of DAF donors, and it identifies key areas for improvement in how DAF foundations can support donors and charities. It also quantifies the increasing contribution of DAF donors to the charitable sector in Canada and examines the challenges, criticisms and misconceptions around DAFs.
Donor-Advised Funds: 2023 Outlook, an essay for PANL Perspectives by Keith Sjogren, discusses what’s influencing DAF increases, changes in share within the DAF community, grants from DAFs and which charities benefit from DAFs.
Thursday, March 5, 2026 in For homepage, Fundraising, News & Events, Private Foundations, Trends
Share: Twitter, Facebook
