NON-CASH GIVING
GIVE STOCKS
Donating stock can be one of the most tax-efficient ways to give. We’ve partnered with Overflow to make donating stock online quick, easy, and secure.
Overflow is a digital solution for donating non-cash assets, enabling donors to give in a tax-efficient way. Donors can experience the ease of giving via stock or crypto in less than five minutes from their mobile devices. Overflow also provides givers access to a private Donor Profile which enables visibility into transaction history, transaction statuses, and the ability to update connected financial accounts.
Donating appreciated stock that you’ve held for over a year can allow you to save up to 20% in capital gains taxes and up to 37% in federal income taxes on the charitable donation value of your gift based on your tax bracket when itemizing deductions.
To understand the full tax benefits of giving appreciated stock, including potential state tax savings, please consult with your tax professional for information about your personal tax implications.
Overflow’s Information Security Program follows the criteria set forth by the SOC 2 Framework, a widely respected information security auditing procedure. Overflow does not have access to nor store 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.
You can give any publicly traded stock through Overflow. By donating assets that have appreciated in value for more than one year, you are more likely to get the highest tax benefits.
If you received company-distributed stock as an employee and the trading window is not open, your brokerage will likely reject the transfer request. We suggest you ask your company for the trading windows and give during those time periods, which typically are open quarterly for 3 to 4 weeks at a time.
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 IRA could result in major tax penalties or even fewer tax benefits than donating cash.
Overflow currently supports over 10 brokerages via their 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. If you are in Overflow’s donor experience and your brokerage account is not one of the 10+ currently supported with a direct connection, you’ll be taken to a form to contact Overflow’s donor operations team. You can also choose to opt in to Overflow’s fully-guided concierge service by emailing stockgifts@overflow.co.
CRYPTOCURRENCY
Donating crypto is another tax-efficient way to give back to the Kingdom of God. We’ve partnered with Overflow to make donating crypto online quick, easy, and secure.
Cryptocurrency can be donated just like other appreciated assets such as stocks. Instead of selling your cryptocurrency and donating the after-tax proceeds, consider donating your cryptocurrency directly to the Church. You will be eligible for a tax deduction equal to the fair market value of the donated cryptocurrency and the appreciation in the value of the donated asset will not be subject to capital gains taxes.
Overflow’s Information Security Program follows the criteria set forth by the SOC 2 Framework, a widely respected information security auditing procedure. Overflow does not have access to nor store 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.
Cryptocurrencies that are compliant and accepted within the United States are available to give through Overflow’s crypto donation processing platform. Please refer to The Giving Block website for an up-to-date list of supported cryptocurrencies.