There’s a new way to be a part of our mission. We’re excited to announce that you can now give stock and make up to a 37% larger donation to impact our community.
By donating stock directly, you avoid up to 37% in capital gains taxes you would incur by liquidating the stock and sending our organization the cash, at zero additional cost to you. Plus, you can deduct the value of the stock as a charitable gift just like cash.
Donating stock can be one of the most tax-efficient ways to give. Give from your gains this year and maximize your impact.
Watch how easy it is to get started...
Watch the video to see how easy the process is or click below to start.
Who is Overflow?
Overflow created a digital solution to donating non-cash assets, enabling donors to give in the most tax efficient way. Donors can experience the ease of giving via stock in less than 5 minutes from their mobile device. Overflow also provides givers access to a private Donor Portal which gives visibility into donor gift history, transaction statuses, and the ability to update connected financial accounts.
Why should I donate stock?
Donating appreciated stock that you've held for over a year could allow you to save up to 20% in capital gains taxes and potentially up to 37% in federal income taxes on the charitable donation value of your gift based on your tax bracket when itemizing deductions. Also, registered nonprofits (like Vintage Church) are exempt from capital gains taxes, so your stock donation allows the nonprofit to utilize the full amount of the donated funds.
What specific stock should I donate?
Overflow supports the transfer of any publicly-traded stock that is exchanged on the US stock market. Overflow also supports the transfer of ETFs and Mutual Funds, but there may be brokerage-imposed restrictions on the transfer depending on the fund and gift value. If that is the case, Overflow’s concierge services will work with you directly to understand the restrictions and implications.
What types of shares can I donate?
You can give any shares that are publicly traded on the U.S. stock market through Overflow. By donating assets that have appreciated in value for more than one year, you are more likely to maximize the potential tax benefits.
What can I expect after I submit my donation?
Immediately after submitting your donation, you will receive an email confirmation of your gift. Stock transactions take 2-14 days to reach our account depending on the sending and receiving brokerages that are involved in the process. Once the 501c3 organization receives your gift, they will send you an IRS-compliant acknowledgment letter that you can use to itemize the charitable deduction on your taxes. Learn more about what to expect after submitting a donation.
Is it safe to connect my brokerage and/or bank account to Overflow?
Overflow's Information Security Program is SOC 2 compliant, a widely respected information security auditing procedure. Overflow does not have access to nor stores any brokerage account usernames or passwords. They use Yodlee, a third-party provider, that handles the brokerage login process. Over 600 companies including PayPal, Mint, and Amazon use Yodlee to connect their clients’ accounts.
Can I give through my 401K or IRA?
Overflow can process all whole shares of publicly traded stock, including 401Ks and IRAs. However, because donors often incur penalties for withdrawing these assets before a certain date, we highly recommend consulting your tax professional before donating these types of assets. Donating 401Ks or IRAs could result in major tax penalties or even fewer tax benefits than donating cash.
Does Overflow support gifts from my brokerage account?
Overflow currently supports over 10 brokerages via its self-guided platform including the most popular brokers such as Charles Schwab, Fidelity, and E*Trade. If Overflow doesn't have a direct connection to your brokerage account, your gift can still be fulfilled through their off-platform concierge service.
How do I claim my charitable tax deduction?
File Form 8283 for the 1040 tax return. To calculate how much to deduct from your taxes, the general rule of thumb is to deduct the fair market value which is the average of the high/low price of the stock on the day it was received by the nonprofit. This is for assets you’ve held for more than a year. The date the stock was received by the nonprofit can be found in the acknowledgment letter you receive from the nonprofit. Include this letter in your tax return.