DonorDrive, an EngageSmart (NYSE: ESMT) solution and creator of
an advanced enterprise digital fundraising solution, announced a
collaboration with Chariot, the creator of Donor Advised Fund (DAF)
payments solution DAFpay™️, which will allow DonorDrive clients to
accept DAF payments online through their existing DonorDrive
donation forms. The new feature is expected to be available in the
DonorDrive platform at the end of January 2024.
Individual giving experienced a 6.4% year-over-year decline in
2022, according to Giving USA. In contrast, the National
Philanthropic Trust found that Donor Advised Fund giving grew 9.1%
in their 2023 DAF Report. This coupled with the fact that the
average DAF gift is $4,798 (per Fidelity's annual DAF donor report)
makes Donor Advised Funds a key focus for fundraising teams. The
2023 DAF report also found that in 2022, donors gave $52 billion
from DAFs – yet $229 billion is still held in these charitable
savings accounts waiting to be donated to qualified 501(c)(3)
organizations. As nonprofit organizations face an increasing amount
of pressure to raise funds, accepting DAF gifts directly in their
online giving forms offers enterprise nonprofits an opportunity to
reach a wider demographic of highly generous donors and make giving
as convenient as possible for them.
Many DonorDrive clients already accept DAF gifts, but processing
these donations is tedious and time-consuming for both internal
staff and donors. With DAFpay™️ by Chariot, donors can grant
directly from their DAF account to a nonprofit’s DonorDrive
fundraising campaign or event. The benefiting organization will
receive immediate access to details including the gift amount,
donation status, and the donor’s contact information in the
DonorDrive platform. With all of this information saved in one
place, nonprofits will have a simpler way to engage donors and help
drive donor retention. The organization will also receive all these
DAF gifts electronically, saving meaningful staff time while
reducing the risk of lost or stolen checks.
DAFpay™️ will be an available payment option for all DonorDrive
donation experiences, including DonorDrive’s newly released
Embedded Donation Forms. In addition to DAFpay™️, DonorDrive offers
a variety of donor payment options: all major credit cards,
multi-currency, ACH, and digital wallet options PayPal, Apple Pay,
and Venmo.
“Across the philanthropy industry, nonprofits are searching for
expanded and creative ways to increase funds raised as individual
giving declines significantly,” said Kasey Cuppoletti, Senior Vice
President, Product at DonorDrive. “At DonorDrive, we’re constantly
looking for innovative ways to help our clients combat those trends
and acquire more donors. Through our collaboration with Chariot,
Donor Advised Funds provide a great opportunity for our clients to
increase revenue, reduce friction in the donation process, and
improve efficiency for their internal teams.”
“Having a Donor Advised Fund payment option superpowers
fundraising efforts and creates a more streamlined experience for
donors," said Aaron Kahane, Co-Founder and COO of Chariot. "By
collaborating with DonorDrive, we’re making it easy for donors to
contribute directly to the organization of their choice, especially
as part of high impact peer-to-peer campaigns. We estimate more
than 3 million donors have access to Donor Advised Funds. DAFpay™️
by Chariot simplifies the DAF donor giving experience, increasing
conversion rates and donation frequency, and helping nonprofits
steward their donors by enhancing the ability to thank and connect
with donors immediately after a donation is made.”
About DonorDrive:
DonorDrive, an EngageSmart solution, is an advanced digital
fundraising platform for nonprofits that turns everyday people into
powerful fundraisers. Drive more revenue for your cause with the
most immersive, connected, and well-designed fundraising experience
ever made. For more than 20 years, DonorDrive has helped hundreds
of nonprofits like Children's Miracle Network Hospitals, American
Foundation for Suicide Prevention, Covenant House, Doctors Without
Borders, Muscular Dystrophy Association, World Vision and hundreds
more to raise billions of dollars. To learn more about DonorDrive,
visit www.donordrive.com.
About EngageSmart:
EngageSmart is a leading provider of vertically tailored
customer engagement software and integrated payments solutions. At
EngageSmart, our mission is to simplify customer and client
engagement to allow our customers to focus resources on initiatives
that improve their businesses and better serve their communities.
EngageSmart offers single instance, multi-tenant, true
Software-as-a-Service (“SaaS”) vertical solutions, including
SimplePractice, InvoiceCloud, and DonorDrive, that are designed to
simplify our customers’ engagement with their clients by driving
digital adoption and self-service. As of September 30, 2023,
EngageSmart serves 116,200 customers in the SMB Solutions segment
and 3,400 customers in the Enterprise Solutions segment across
several core verticals: Health & Wellness, Government,
Utilities, Financial Services, and Giving. For more information,
visit www.engagesmart.com and follow us on LinkedIn.
About Chariot:
Chariot is the only Donor Advised Fund (DAF) fundraising
solution for nonprofits. DAFs are the fastest growing funding
source in philanthropy and hold $230 billion that’s waiting to be
donated. The problem is that DAFs are impossible to use in the
places donors are most inspired to give (donation forms,
peer-to-peer campaigns & live events) and create a processing
nightmare for nonprofits to manage. Chariot unlocks more DAF gifts
faster by integrating 3-click DAF giving into any digital donation
experience with DAFpay™️. Chariot also enables real-time capture of
DAF donor name & email for effective stewardship and fully
electronic processing for seamless payouts. You can try a demo here
and learn more at www.givechariot.com.
Forward-Looking Statements
Certain statements in this release are “forward-looking
statements” within the meaning of the Private Securities Litigation
Reform Act of 1995 and are based on current expectations and
assumptions that are subject to risks and uncertainties. All
statements contained in this news release that do not relate to
matters of historical fact should be considered forward-looking
statements, and are generally identified by words such as “expect,”
“intend,” “anticipate,” “estimate,” “believe,” “future,” “could,”
“should,” “plan,” “aim,” and other similar expressions. These
forward-looking statements include, but are not limited to,
statements regarding anticipated financial performance and
financial position, including our financial outlook for the first
quarter and full year 2023 and thereafter, and other statements
that are not historical facts. These forward-looking statements are
neither promises nor guarantees, but involve risks and
uncertainties that may cause actual results to differ materially
from those contained in the forward-looking statements. Our actual
results could differ materially from those anticipated in these
forward-looking statements for many reasons, including, but not
limited to, the following: our inability to sustain our rapid
growth; failure to manage our infrastructure to support our future
growth; our risk management efforts not being effective to prevent
fraudulent activities; inability to attract new customers or
convert trial customers into paying customers; inability to
introduce new features or services successfully or to enhance our
solutions; declines in customer renewals or failure to convince
customers to broaden their use of solutions; inability to achieve
or sustain profitability; failure to adapt and respond effectively
to rapidly changing technology, evolving industry standards and
regulations and changing business needs, requirements or
preferences; real or perceived errors, failures or bugs in our
solutions; intense competition; lack of success in establishing,
growing or maintaining strategic partnerships; fluctuations in
quarterly operating results; future acquisitions and investments
diverting management’s attention and difficulties associated with
integrating such acquired businesses; general economic conditions
(including inflation and rising interest rates), both domestically
and internationally, as well as economic conditions affecting
industries in which our customers operate; the war in Ukraine;
concentration of revenue in our InvoiceCloud and SimplePractice
solutions; COVID-19 pandemic and its impact on our employees,
customers, partners, clients and other key stakeholders; legal and
regulatory risks; and technology and intellectual property-related
risks, among others.
Other important risk factors that could affect the outcome of
the events set forth in these statements and that could affect the
Company’s operating results and financial condition are discussed
in Item 1A of our Annual Report on Form 10-K for the year ended
December 31, 2021, and our subsequent Quarterly Reports on Form
10-Q, as updated by our future filings with the Securities and
Exchange Commission (“SEC”). Such statements are based on the
Company’s beliefs and assumptions and on information currently
available to the Company. The Company disclaims any obligation to
publicly update or revise any such forward-looking statements as a
result of developments occurring after the date of this document
except as required by law.
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only.
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version on businesswire.com: https://www.businesswire.com/news/home/20240123518531/en/
Media: Nicole Bestard Quarter Horse PR
donordrive@qh-pr.com Investor Relations: Josh Schmidt
EngageSmart, Inc. IR@engagesmart.com
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