FAQS
Overflow is a digital solution for donating non-cash assets, helping you give in a tax-efficient way. Right from your mobile device, you’ll experience the ease of giving via stock or crypto in less than five minutes. Overflow also provides you with access to a private Donor Portal that provides visibility into your transaction history, transaction statuses, and the ability to update connected financial accounts.
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. 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 is SOC 2 compliant, a widely respected information security auditing procedure. Overflow does not have access to or store any brokerage account usernames or passwords. They use Yodlee, a third-party provider, that handles the brokerage log-in process. Over 600 companies including, PayPal, Mint, and Amazon, use Yodlee to connect their clients’ accounts.
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.
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 maximize the potential tax benefits of your gift.
Overflow currently supports more than 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 transaction operations team. Email stockgifts@overflow.co to choose to opt into Overflow’s fully-guided concierge service.
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 highly advise you ask your company for the trading windows so you can give during those time periods, which are typically open quarterly for three to four weeks at a time.
Feel free to email info@district.church or call 916-939-9300. Remember to check with your tax advisor about any tax implications for your situation.