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
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.
DAY 0: Donor initiates a stock donation
When you click "Send Donation" on the Overflow platform, the stock gift transfer is initiated to the organization of your choice.
DAY 0-1: Overflow processes the stock donation and executes on behalf of the donor
Once the gift is initiated, Overflow processes the gift. 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.
- Charles Schwab (1-2 Business Days)
- Fidelity (3-5 Business days)
- Vanguard (5-7 Business days)
- Merrill Lynch (5-7 Business days)
- E*Trade (7-10 Business days)
- Wells Fargo (7-10 Business Days)
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.
Is your gift exceeding these timelines? Have a question about your stock donation? Email our Donor Operations team at email@example.com.