You already have an incredible set of ambassadors at your disposal...YOUR BOARD OF DIRECTORS!
These valuable people have proven their commitment to your organization in their gifts of time and guidance. So why not equip them to have impactful conversations with their networks that inspire individuals to donate non-cash assets?
At your next board meeting, here's a suggested agenda you can use to leverage this powerful group:
WHY WE CHOSE OVERFLOW
"We have recently activated a new tool on our giving page that makes donating stock and crypto as easy as donating via cash or credit. This is a huge value-add for our organization because donors who give from their stock gains tend to be more generous. The average stock donation through Overflow is $10,000. The majority of individuals now hold their wealth in non-cash assets such as stock, and the process to donate those shares has previously been antiquated (think snail mail and faxes) and laborious. However, it is also extremely tax-advantageous to donate non-cash assets because donors can avoid up to 20%* in capital gains taxes and up to 37%** in federal income taxes when itemizing deductions based on their tax bracket and the charitable donation value of the gift when donating the assets directly. We're excited to now have this capability available to donors and we believe it will result in increased generosity."
Supporting Articles
- Donating via Stock. How does it work?
- Donating via Stock. Why is this the best way to give?
- Stocks vs Cash. Your Donation Goes Further with Stock.
WE NEED YOUR HELP
"We are going to launch Overflow to our donor base but the most effective way to educate donors about this new giving avenue is through personal conversations. Take a moment to think through your network. Who has the capacity to donate stock? Who would be interested in supporting an organization such as ours?"
TALKING POINTS
"Now that you have those people in mind, let's talk about how you can approach them to support our mission. Here are our quick tips:"
- BUILD TRUST THROUGH RELATIONSHIP
- Find out what they care about.
- Are they already supporting other organizations? What types of organizations?
- INTRODUCE YOUR NONPROFIT
- Why do you serve on this board?
- Why is our mission important to you?
- What impact have you seen that inspires you to continue to be involved?
- MAKE THE ASK
- "Would you be interested in supporting our mission?"
- TALK ABOUT STOCK GIVING
- "Have you considered donating stock before? We are partnering with a platform called Overflow that makes donating stock as easy as donating via cash or credit. We've opened up this giving avenue because it is so tax advantageous for you as the donor. You can save up to 20% on long term capital gains taxes by donating stock directly to us rather than liquidating the stock and donating the cash. That means more of your gift goes directly to the cause you care about. Would you consider maximizing your donation in this way? "
FOLLOW UP
"If the individual did express interest, make sure to connect them with our fundraising lead so we can follow up and make that donation a reality!"
Once your Board of Directors feels empowered to advocate for your organization, they'll be excited to share about your mission with their networks, and equip their friends to best support that mission with non-cash gifts.
*This assumes all realized gains are subject to the maximum federal long-term capital gains tax rate of 20%, and that the donor originally planned to sell the stock and contribute the net proceeds (less the capital gains tax) to charity. This does not take into account state or local taxes, if any.
**This assumes the top individual federal income tax bracket for a taxpayer that is itemizing tax deductions and does take into account Adjusted Gross Income limitations on charitable contributions. This does not take into account state or local taxes, if any.
Overflow does not provide tax, legal, compliance, or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal, compliance, or accounting advice. Your organization should consult its own tax, legal, compliance, and accounting advisors before sending or concluding any transaction, communication, or otherwise.