![Headshot of Stephen Vicinelli next to text discussing how impact-first investing can connect high earners who want to give money with communities in need, featured in Kiplinger’s Social Finance section.](https://socialfinance.org/wp-content/uploads/2026/07/13-1000x673.png")
Impact-First Investments, Foundations & Donor-Advised Funds, Advisory Services for Foundations & DAFs
Key Takeaway
Donor-advised funds hold billions of dollars, but charitable organizations need money now. Impact-first investing can close the gap, and high-net-worth donors are interested. Why wait?
In this op-ed for Kiplinger, Stephen Vicinelli argues that the more than $326 billion sitting in donor-advised funds should be put to work now through impact-first investing — prioritizing measurable social outcomes while structuring capital to recycle and compound over time. Vicinelli makes the case for deploying this capital into underfunded but viable sectors like affordable housing, childcare, and workforce development, where each dollar can be returned and redeployed to extend its impact.
Related Insight
![Headshot of Kirstin Hill next to text about a Social Finance event titled "Beyond Payout: What Is Charitable Capital Doing Right Now?" hosted by The Center for Effective Philanthropy.](https://socialfinance.org/wp-content/uploads/2026/06/WEBSITE-News-Insight-Thumbnail-4-1000x673.png")
Center for Effective Philanthropy: Beyond Payout: What Is Charitable Capital Doing Right Now?
Responding to recent calls for increased foundation payout, Kirstin asks what philanthropic capital could do even before it is paid out.
![Presentation slide titled "Debunking the Myths of Impact Investing from DAFs" with a photo of a person labeled Mike Silvestri.](https://socialfinance.org/wp-content/uploads/2025/02/Leah-6-e1739299503297-1000x583.png")
Mission Investors Exchange: Debunking the Myths of Impact Investing from DAFs
Many misconceptions discourage DAF providers from pursuing impact investments. Vice President, Impact Investing Mike Silvestri debunks the myths surrounding impact investing, explaining how Social Finance mobilizes DAF capital to drive meaningful change and achieve both…