UnTangled With Pam Trzop: Hot Takes on Fundraising in 2025 – DAFs, YTD Trends, and EOY Prep 

2025 has been a year of contradictions for fundraising. On last week’s UnTangled, with Firefly’s own Pam Trzop, we dug into the big donor trends we are seeing as we head into EOY season, and what your nonprofit can still do to optimize giving in time for the heavy push in December. Here are Pam’s hot takes to put into action ASAP!

On one hand, dollars raised are holding steady or even climbing in some areas. On the other hand, donor counts are shrinking, especially among small and mid-level givers. The middle of the pyramid is under pressure, while wealth concentration means fewer donors are carrying more of the load. 

At the same time, consumer behavior is shifting faster than ever, and donors bring those same expectations with them. They’re not comparing your donation form to another nonprofit’s — they’re comparing it to their last Amazon checkout or Netflix binge. 

So, what does this all mean heading into year-end? Here are my hot takes on the three things every nonprofit should be paying attention to: DAFs, YTD trends, and end-of-year prep. 

Donor-Advised Funds: The New Planned Giving 

What are DAFs?
Donor-Advised Funds (DAFs) are essentially charitable investment accounts. Donors contribute assets, get an immediate tax deduction, and then recommend grants over time. They’re administered by groups like Fidelity Charitable, Schwab and Vanguard. 

Why do they matter? 

• DAFs are sticky. Once funds are in, they must be distributed. 

• DAFs skew wealthy. They’re a tool of choice for high-net-worth donors. 

• DAFs are under scrutiny. Critics argue that too much money sits idle, and nonprofits that emerge as worthy recipients win. 

• DAFs are a pipeline. They convert donor assets into sustained major gifts. 

What to do right now: 

• Add DAF Direct or a similar tool to your donation page. 

• Train staff to ask, “Do you give through a DAF?” in donor conversations. 

• Steward DAF donors just like your other major givers: impact reports, insider updates, personalized touches. 

• Track DAF revenue separately so you can spot trends. 

I wrote a deeper dive into DAF strategy last year: Harnessing the Power of Donor-Advised Funds for Your Year-End Fundraising. 

Hot take: A DAF strategy is no longer optional — it’s the new planned giving. If you don’t have one, you’re invisible to a growing share of donor dollars. 

YTD Trends: Dollars Up, Donors Down 

The Fundraising Effectiveness Project (FEP) Q1 2025 data tells the story: 

• Dollars raised ↑ 3.6% 

• Donors ↓ 1.3% 

• Lowest tier ($1–$100) donors ↓ 11.1% 

In short: giving is becoming more concentrated at the top. 

Other signals reinforce this: 

• Mega donors stayed consistent in 2024/25. They stick with causes they know and expect clarity, trust, and a relationship. 

• Big brands are shifting from legacy small-gift models toward stronger major-gift pipelines, analytics, and blended asks. 

• Consumer behavior is a leading indicator. 

• Bain shows the luxury sector is slowing but still resilient — just like high-end giving. 

• Klaviyo reports consumers are shopping earlier and browsing longer — donors are moving the same way. 

• S&P Global warns of policy uncertainty, but overall resilience — donors may be cautious, but they’re still giving. 

The Amazon effect is here. If your donation form isn’t as easy as a checkout cart, donors will bounce. If your messaging doesn’t feel personal, they’ll tune out. 

The good news? Nonprofit tech has caught up. We now have platforms that support one-click payments, segmentation, dynamic content, automated donor journeys, and DAF integrations. What used to feel like a “someday” wish list is now table stakes. The tools are here — it’s about using them strategically. 

End-of-Year Prep: Leverage Tech + Relationships 

The 2025 giving season is all about leveraging the technology you already have. 

We finally have the ability to create donor experiences that are as seamless as Amazon checkout and as personalized as Netflix recommendations. This doesn’t replace personal relationships; it accelerates them. 

• Tech gives you the ability to scale personalization. 

• Human stewardship deepens the connection. 

• Together, they create the “high-touch” experience donors expect. 

This is no longer a nice-to-have. Donors are benchmarking you against their best digital experiences. If you’re not delivering, someone else will. 

What you can still do now: 

• Audit your donation forms. They must be fast, mobile-friendly, and offer Apple Pay, Venmo, PayPal, and DAF Direct. 

• Segment your outreach. Craft different asks for lapsed donors, loyal donors, DAF donors, and major prospects. 

• Tell urgent, outcome-driven stories. 

• Re-engage lapsed donors with quick campaigns. 

• Leverage timing. Shoppers — and donors — are acting earlier, so don’t wait until December 31. 

• Book major donor outreach. Line up personal calls, insider briefings, behind-the-scenes access. 

• Do an ops check. Make sure your staff, systems, and data can handle year-end volume. 

For more tactical detail, check out this excellent piece Firefly’s Wynn Hawker-Boehnke wrote on Year-End Fundraising.

Hot take: Year-end 2025 will reward speed and personalization. The orgs that prepare early, segment well, and layer digital tools on top of strong personal relationships will win. The orgs that send generic “last chance” blasts on December 30 will struggle. 

Here’s what I want you to take away: 

• DAFs are exploding — you need a strategy in place now. 

• Donor concentration is real — dollars are up, but fewer people are giving. 

• Consumer expectations are reshaping fundraising — Amazon-level ease, Netflix-level personalization. 

• EOY prep matters — audit, segment, personalize, and move fast. 

2025 fundraising is about more than who you ask — it’s about how you deliver the experience. Donors expect seamless digital giving and personalized journeys, and nonprofits finally have the tools to deliver both. The organizations that see the most impact will be those that stop saying “we’ll get there when we can” and start using the tech you already have to fuel real relationships. 

Watch the full episode for more tips and ideas on fundraising trends in 2025:

Ready to put some of these EOY tips into action? Take a look at how we can help!