What Donor-Advised Fund Data Reveals About Donor Behavior

In this episode of The Beacon Podcast, Dr. Dan Heist, assistant professor at Brigham Young University and co-founder of the Donor Advised Fund Research Collaborative, shares research-driven insight into how donors actually use donor-advised funds. Drawing on original data, he explains the trade-offs between DAFs and private foundations, addressing questions of donor control, administrative efficiency, transparency and payout behavior. The conversation moves beyond headlines to clarify why DAFs continue to grow and how donor intent operates within these vehicles. Hosted by Dr. Stuart Gulley, the episode offers practical guidance for nonprofit leaders seeking to better understand and steward DAF dollars. Dan introduces three distinct donor patterns – tubs, tanks and towers – and explains how each behaves differently in terms of timing, payout and engagement. He outlines concrete strategies for identifying DAF donors, tracking them effectively and tailoring cultivation and solicitation approaches accordingly, while also addressing policy and perception shifts likely to influence DAFs in the years ahead.