There are several tools to support raise donations / sponsoring such as Github Sponsors, OpenCollective, etc. - but how much do you can make and is it enough to live from it?
Note that the person asking the question runs a project to monetize OS (open source) libraries. On their homepage it says "Monetizing an Open-Source Library to earn a salary is very hard - donations just don't cut it."
And what is your problem discussing the topic? I have an opinion (like you) and I just want to know what other thinks of donations and if it works for them.
I'm providing the disclaimer because you haven't.
If you are so keen on having disclaimers maybe you should also disclaim in which FAANG companies you worked and which SaaS Startup you are speaking for (as mentioned in your bio).