Daffy.org, the modern platform and community for charitable giving, today announces the launch of its open APIs designed to make it easier to bring giving into every financial budgeting app, investing app, e-commerce site, and marketplace. By integrating Daffy into their applications and services, companies and developers can make it seamless for their customers to donate cash, stock, or crypto to nearly any U.S. charity and take advantage of the many tax benefits of having a donor-advised fund (DAF).
Almost every incumbent in financial services has giving built natively into their platform, typically through a proprietary donor-advised fund. Despite the incredible innovation of the past decade, almost none of the successful new fintech companies have incorporated these capabilities. While exciting new entrants have made it easy to spend, save money, buy and sell securities, crypto, and even increased access to complex services like tax-loss harvesting, charitable giving has been missed. The charitable giving market is huge, with an estimated 60-70 million households giving to charity every year in the US alone, and total giving in the US reaching nearly $485 billion in 2021, according to the Giving USA Foundation.
“When Alejandro and I founded Daffy, we set out to help people be more generous, more often, and believe the time has come for the fintech community to incorporate giving into every application and service,” said Adam Nash, co-founder and CEO of Daffy. “However, we’ve realized that building out the operational and regulatory capabilities for giving at scale benefits from a common platform and we believe Daffy can be the platform that brings giving to every modern financial application and service.”
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To demonstrate the power and flexibility of the new Daffy APIs, the Daffy team open-sourced a few examples of applications that make giving easier, frictionless, and more ubiquitous.
- Workplace Rewards: Want to have a contest to see which engineer on your team can close out the most bugs this week, or reward the salesperson on your team who closes the most deals this month? This simple Slack application allows you to send a Daffy Gift, a link where people can give the money to any charity, to any team member via a Slack DM. Just open a Daffy account, fund it with your corporate card, and give anyone on your team $100 to give to the charity of their choice.
- Shop and Give: Miss AmazonSmile? This Chrome plug-in uses the Daffy API to keep track of your spending on Amazon and any site that uses Shopify. Every time you spend $250, it will automatically send a donation of $25 to the charity of your choice.
In addition to its Developer APIs, Daffy is also announcing a set of Partner APIs designed to help enable even more powerful financial use cases. Sample use cases of the Partner APIs include:
- Every e-commerce site or marketplace can be enabled to let people donate a percentage of their purchase to non-profits they support.
- Every personal finance manager can help their users track their giving goal and incorporate their tax-free donor-advised fund into their list of accounts.
- Every brokerage application can make it easy to donate stock or funds to any charity.
- Every crypto application can make it simple to donate crypto to the charity of their choice.
- Every financial advisor can allow their clients to take advantage of the amazing tax benefits of having a direct integration with a donor-advised fund.
- Every roboadvisor can dramatically improve its tax-loss harvesting and direct indexing features by incorporating the donation of low cost-basis shares to a donor-advised fund.
Chariot leveraged the new Daffy APIs to make it as easy for nonprofits to support donations from donor-advised funds as it is to support donations for credit cards. Chariot created a simple “Donate with DAF” widget that any nonprofit can add to its website, live event, or fundraising platform.
“As DAFs grow in popularity, the introduction of Daffy APIs make DAF giving even more accessible,” says Salomon Serfati, CEO and co-founder of Chariot. “By integrating with Daffy, we were able to allow Daffy members to participate in online peer-to-peer fundraising events such as marathons, bike races, walkathons, 24-hour campaigns, and more.”