Stock Donated. Now What Happens?

What can I expect after I submit my stock donation?

Immediately after submitting your donation, you will receive an email confirmation of your gift. This email will include a brief overview of your initiated gift with the following details:

• Transaction date
• Number and type(s) of shares
• Transaction ID number
•  

Important - In certain situations, there may be further action required from you, the donor, to have your stock contribution ready for processing. Please ensure you keep an eye out for an email from your Overflow Donor Operations team on any additional necessary steps.

Will the donated shares leave my account instantly?

No.

While Overflow works hard to make the donation initiation process streamlined and quick for you, stock transfers are not instantaneous! Read below for a full description of the stock donation timeline you can expect.

Stock Donation Timeline*

DAY 0: Donor initiates a stock donation
When you click "Send Donation" on the Overflow platform, a request to give stock to the organization of your choice will get sent to Overflow.

DAY 0-1: Overflow processes the stock donation and executes on behalf of the donor
Overflow processes the stock donation request and executes the transfer to the sending brokerage on behalf of the donor. This can take up to 1-business day.

DAY 1-10: Your stock donation leaves your brokerage account and is transferred to the receiving organization's account.
This time frame varies based on the sending AND receiving brokerages. For example, if you send a donation from Charles Schwab to Fidelity, it most likely will take about 3-5 business days. Stocks that are transferred with the same brokerage (Fidelity to Fidelity for example), can be processed in as little as 1 business day.

Expected Processing Time	Brokerage
2 Business Days	Charles Schwab & Co., Inc
5 Business Days	Fidelity Brokerage Services, LLC
	Vanguard Group, Inc
7 Business Days	E*TRADE Securities, LLC
	Merrill Lynch, Pierce, Fenner & Smith, Inc.
	Morgan Stanley Smith Barney LLC
	Edward Jones Investments
	Raymond James Financial, Inc
	Wells Fargo Clearing Services, LLC
	J.P. Morgan Securities, LLC
10 Business Days	LPL Financial Holdings, Inc
	Most Other Brokerages

Please note end of year may increase these timelines due to increased processing time.

FINAL DAY: Your stock donation arrives in the receiving organization's brokerage account. 🎉

Your gift will arrive in the receiving organization's account the same day it leaves your brokerage account. Once the organization receives your gift, they will mark the gift as "received" and you will receive an automated email letting you know the transaction is complete. The organization will then send you an IRS-compliant acknowledgment letter for you to itemize the charitable deduction when you file taxes. Learn more about the charitable acknowledgment letter here.

*IMPORTANT NOTE: When donors give through a Financial Advisor, or on their own requesting DTC instructions, Overflow makes those instructions available immediately through an email. We then follow up with the donor/financial advisor for confirmation of the gift, including the date they plan to submit the transfer. Timelines may vary in these cases depending on when the donor plans to give. Overflow continues to contact the donor for confirmation when no response is provided, and updates the Dashboard accordingly. 

Is your gift exceeding these timelines? Have a question about your stock donation? Email our Donor Operations team at [e-mail].