[TAForObvReasons]

> but the average disbursement for DAFs is about 15% per year.

What makes that number suspect is double-counting: a donation from one DAF to another is counted as a disbursement, heavily skewing the numbers. The economist looked into this: https://www.economist.com/finance-and-economics/2017/03/23/a...

> But it is notable that the biggest recipient of DAFs’ gifts is none other than Fidelity [Charitable]. The third-biggest is the American Endowment Foundation, another DAF supplier.

It's essentially wash but runs up the apparent DAF donation count