WAYS TO GIVE

Overflow is a digital solution for donating almost any asset to HopeTown Church in minutes. Overflow allows your dollars to go further by offering some of the most tax-efficient ways to give and the lowest processing fees on the market. Overflow makes it easy to give what you want, how you want.

Yes. Overflow’s Information Security Program is SOC 2 Type 2 compliant and follows strict criteria set forth by the SOC 2 Framework, a widely respected information security auditing procedure. Overflow does not have access to nor stores any brokerage account login information. For security and data privacy measures, Overflow uses Yodlee, a third-party provider, to handle the brokerage account login process. Over 600 companies including PayPal, Mint, and Amazon use Yodlee to connect their clients’ accounts.

Stock is one of the most tax-advantageous ways to give. By donating stock directly instead of liquidating the asset and donating the cash, you can save up to 20% in long-term capital gains taxes.

Yes! If you are employed by a publicly traded company and receive stock as part of your compensation, you can donate that stock with ease through the Overflow platform. Please note that your company might restrict when employees can give stock. If you received company-distributed stock as an employee and the trading window is not open, your brokerage will likely reject the transfer request. Therefore, we suggest you only donate stock when your company’s trading window is open, typically every quarter for 3 to 4 weeks at a time, if those restrictions apply to your role.

• Donating appreciated stock that you’ve held for over a year allows you to deduct the full fair market value from your taxes and protect your realized gains from being subjected to long-term capital gains tax, which can be up to 20% depending on your tax bracket.
• If you donate appreciated stock you’ve held for less than a year, you can avoid up to 37% in short-term capital gains taxes by donating that stock. You also can deduct the cost basis of the stock as a charitable gift.
• Nonprofits are exempt from capital gains taxes, so your stock donation allows the nonprofit to utilize the full amount of the donated funds.

Currently, the Overflow platform can facilitate donations from DTC-enabled brokerages such as Charles Schwab, Fidelity, Vanguard, E-Trade, & Wells Fargo.

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.

Overflow offers four different ways for you to give stock to HopeTown Church so you can give in the way that you feel most comfortable. These include digital stock giving, a product for financial advisors to give on your behalf, and the ability for you to request DTC information to donate directly. These options are available on your nonprofit’s stock donation page.

It depends! Currently, Overflow accepts donations of shares from publicly traded companies located in the United States, with some exceptions. If you would like to donate shares from a company located outside the United States, please contact stockgifts@overflow.co.

It depends! Overflow can process all whole shares of publicly traded stock, including from retirement accounts (401K, 403b, Roth IRA, and Traditional IRA). However, donors will incur a tax penalty if they remove retirement funds early (before age 59.5) and some employer-sponsored retirement plans will not allow early fund distribution at all. Because of these restrictions and potential penalties, we highly recommend consulting your tax professional before donating these types of assets. If you decide to proceed, Overflow’s concierge services will work you directly to facilitate the transfer of these assets.

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 we receive your gift, the nonprofit will send you an IRS-compliant acknowledgment letter that you can use to itemize the charitable deduction on your taxes.

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.

Overflow currently offers account connections with most major brokerages including Charles Schwab, Fidelity, and E*Trade. If Overflow does not have a direct connection with your brokerage, you can still initiate your stock gift through our manual online flow, which you will be prompted to enter if your brokerage is not directly supported. You can also choose to opt in to Overflow’s concierge, fully guided stock donation service by emailing stockgifts@overflow.co.

A donor advised fund (DAF) is a specialized financial account used for charitable giving. It allows individuals to make a charitable contribution, receive an immediate tax deduction and then make grants to 501(c)(3) organizations over time. The money in a DAF can also grow tax free and be donated at any time in the future – there are no time limits or distribution requirements for DAFs today.

The main benefit of a DAF is the ability to make a donation and take an immediate tax deduction for it while waiting to decide how the donation should actually be used. While the donation is irrevocable, it can grow tax-free in the DAF via investment while the decision is being contemplated.

Now that you know more about DAFs and their benefits it’s time to initiate the donation! Simply click the Give DAF button near the top of this page or select the Donate from DAF option as a payment method within the cash donation experience.