A payment network connecting nonprofits to the $229B in DAFs
Chariot’s a payment option that nonprofits can add to their website, allowing donors to ‘one-click’ give with their Donor Advised Fund. Chariot enables this by creating a network connecting Donor Advised Funds and nonprofits. Charities add our “Pay with DAF” widget to their website/payment page. Donors click the button, log in to their DAF account, and make a payment in 3 clicks. A donor-advised fund (DAF) is a specialized financial account used for the purpose of charitable giving. It allows donors to make a charitable contribution, receive an immediate tax deduction, and then recommend grants (that become donations) to 501(c)3 charities over time.
Jobs at Chariot
Active Founders
Salomon Serfati
Salo is the CEO/CTO of Chariot. Before Chariot, Salo was a backend engineer at BlackRock and a founding engineer at Forage (YCS21). Salo graduated from the University of Pennsylvania with a degree in computer science. Salo was a President Innovation Prize finalist and at the age of 18 co-built a roommate app with 5,000+ users in 2 months with 0 CAC, 5 interns & 50+ brand ambassadors. Salo was born in Caracas, Venezuela.
Aaron Kahane
Aaron is the COO of Chariot. Before Chariot, he was a consultant at Bain & Company. At Bain, he worked for a $100B+ hedge fund looking at public equities in the tech/telecom space. Aaron graduated Summa Cum Laude from the University of Pennsylvania, receiving the highest distinction in his major. He also worked with Adam Grant on his NYTimes’ best-selling book Think Again and Angela Duckworth on her upcoming book.
Drew Schneider
Drew is the Chief Product Officer of Chariot. Before Chariot, he was a consultant at Bain & Company. At Bain, he ran due diligence on software systems for top healthcare providers. Drew graduated Summa Cum Laude from Dartmouth College with a degree in Human-Centered Design. He has an extensive background in UI/UX and the design workflow process.
Company Launches
Charities add our “Pay with DAF” widget to their payment page. Donors click the button, log in to their DAF account, and make a payment – as easy as Paypal.
What is a Donor Advised Fund?
A donor-advised fund (DAF) is a specialized financial account used for the purpose of charitable giving. It allows donors to make a charitable contribution, receive an immediate tax deduction, and then recommend grants (that become donations) to 501(c) charities over time. Once considered a tool primarily for the wealthy, DAFs have started gaining mainstream adoption. With over 1.3 million accounts, growing at 37% a year, DAFs are now the fastest growing vehicle in all of philanthropy.
Problem:
- 🛑 Can’t give with your DAF on fundraisers, campaigns, or a nonprofit’s website. Your friend sends you a link to donate to their marathon campaign. Even though you have money in your DAF that can only go to charity you can’t use these DAF funds to donate.
- 💵 DAF money is sitting idle and not going to charity. In 2021, $234 Billion sat in DAF accounts ready to be donated.
- 🤔 Charities can’t easily connect with their DAF donors: Blank checks come in from many different DAFs without clarity on who it’s coming from
- 😒 Charities have unnecessary back office DAF work. When DAF donations are received, nonprofits have to manually input these donations into their CRMs.
Solution:
- Enable donors to give at fundraisers and campaigns with their DAFs in 3 simple clicks
- Unlock more DAF donations, larger donations (DAF donors are, on average, 30% more generous), and multiply nonprofit funds with Chariot's recurring donation option.
- Connect with your DAF donors: By providing nonprofits with up-to-date donor contact information (if donor permits), they can now foster direct connections with their biggest DAF supporters.
- Track your DAF donations: Chariot integrates with a nonprofit’s donation form provider and CRM so they can track the status of their DAF donations automatically. Monitor those donations as they are initiated, approved, and sent out.
Ask
We are planning on launching this fall!
Have a relationship with a nonprofit you think we can help? Invite them to sign up for our Nonprofit Waitlist here
Do you know anyone at nonprofit fundraising platforms like GoFundMe or Blackbaud? We would love an intro!
If you are using any Donor Advised Fund, we would love to learn from your experience.
Let us know what you think!
Aaron