What are the benefits of making a stock donation?
Donating stock to OLE Health Foundation can help maximize your contribution. Appreciated stock that has been held for over a year allows up to 20% savings in capital gains taxes and up to 37% savings in federal income taxes on the charitable donation value of your gift, allowing more of your gift to be directed toward our community’s health.
To understand your individualized tax benefits of giving appreciated stock, including potential state tax savings, please consult with your tax professional.
How do I get started?
OLE Health Foundation works with a platform called Overflow, which offers a simple and secure interface for supporters to donate non-cash assets via their web browsers and mobile devices. Most transactions can be completed within five minutes or less.
Click here or visit www.olehealth.org/support/donate to get started.
Is giving through Overflow safe and secure?
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.
What specific stock can I donate?
You can give any publicly traded stock using the Overflow platform. By donating assets that have appreciated in value for more than one year, you are more likely maximize your tax benefits.
Can I give through my 401k or IRA?
Overflow can process all whole shares of publicly traded stock, including 401k plans 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.
Can I give company stock outside the trading window?
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.
Does Overflow support gifts from my brokerage account?
Overflow allows you to make gifts directly from many popular brokerages, including Charles Schwab, Fidelity, and E*Trade. If a connection to your preferred brokerage is unavailable, your gift can still be fulfilled through Overflow’s 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.com.