The ins and outs of the stock and mutual fund donation process.
What is the Stock and Mutual Funds Donation Process?
iDonate will provide a letter of authorization for you to complete and give to your broker. Please note that your gift is not complete until your broker makes the transfer. After the stock or mutual funds have been transferred, you will receive a gift-in-kind receipt and iDonate will give proceeds to your cause.
What are the Benefits of Donating Stock and Mutual Funds?
iDonate makes it easy to help your cause by donating stock and mutual funds. We assist with the transfer paperwork and forward proceeds to your cause.
Appreciated stock and mutual funds donations generally receive two key benefits:
- A current-year tax deduction for the fair market value
- No capital gains taxes paid on the sale
Please consult with your tax advisor for information on how these benefits apply to your situation.
What if I am Giving Physical Certificates or Stock Held at a Transfer Agent?
We will provide a form with instructions for your completion. Once this form has been completed along with any required medallion signature guarantees, we will finalize the transfer process.
What if I Don't Know the Exact Information to Complete the Online Stock Illustration?
The online gift experience prepares a personalized illustration of the benefits from giving your stock. If you don’t know your exact information, that’s okay. This is for illustration purposes only.
How Much Can I Deduct for Stock Donations?
iDonate strongly recommends that a tax advisor be consulted for your specific situation as tax laws change frequently and iDonate does not give tax or legal advice.
For stock donations, you can usually deduct the fair market value of the gift at the time of transfer.
Do I Need to Give iDonate's Stock Form to My Broker?
No, you can also use the transfer form provided by your broker. However, we will need the information requested by our form so we can properly identify your gift when it arrives.