Stock giving is complicated. Let Overflow navigate the complex world of stock donations for you.
Transferring stock gifts is complicated mainly due to the lack of uniformity across brokerages in processing stock gifts, but also due to the many hoops a donor has to jump through for a gift of stock to be transferred. Overflow has created a simple and secure way to give stock and a majority of gifts will be processed without a hitch; but certain gifts will need a donor to take further action due to the donor’s specific brokerage processing requirements or other special circumstances.
Concierge Support is when a member of our Donor Operations team steps in to help facilitate a stock gift by working directly with a donor.
Concierge Support removes any pressure on the donor to troubleshoot a donation that has unique requirements by having a trained Overflow Donation Manager guide them through the process.
We proudly offer concierge support to ensure a donor’s intent to give is fulfilled if the need arises. This increases the success rate of gifts being fulfilled, creates a positive giving experience for donors, and saves 501c3 organizations the headache of trying to help navigate brokerage processing requirements. Without Concierge Support, a stock gift that requires additional action on behalf of the donor can take longer to fulfill and is often unsuccessful.
Our Donor Operations team is made up of experts in the non-cash asset-donation space and offers the following concierge services:
- Connecting with donors that may have questions or concerns about donating stock or crypto online, and, in some cases, process stock donations completely off-platform.
- Using our expertise to troubleshoot any transactions that may have hit a roadblock transferring out of the sending brokerage account while optimizing for speed and accuracy.
- Devising strategies to help ensure that a donor's gift is realized as quickly as their brokerage allows especially when time is of the essence (such as end-of-year giving and employee trading window restrictions).
- Partnering with financial advisors to help facilitate transactions in a way that is most comfortable for the donor.
- Maintaining contact with the donor throughout the process to ensure they have all the information they need to successfully complete the transaction.
Concierge Support is Baked Into Overflow's Product
The Overflow stock giving experience recognizes gifts that need additional support and connects donors with our Concierge Support team automatically! Once donors complete the information requested in the Concierge Support form, they will receive a confirmation email.
When is concierge support required?
1) Indirect-Connect Brokerage
Sometimes, donors may give from a small or regional brokerage to which Overflow does not have a direct connection. (For the full list of direct-connect brokerages, click here). In this case, donors will be automatically directed to the concierge support experience. Rest assured, we can facilitate transactions for a large number of brokerages even if Overflow doesn't have a direct connection to that particular brokerage.
2) Employee Stock
If the donor is giving employee stock, or shares that were granted to them as part of their employee compensation package, these shares often have unique restrictions including:
- The donor may need approval from the company to donate equity.
- The donor can only trade the shares within their employer's stock trading window.
- The donor may need to follow unique transfer instructions for various types of stock such as ESPPs and RSUs.
Our Donor Operations team has processed hundreds of these types of donations and will work directly with the donor to ensure the donation is fulfilled.
3) Unique Brokerage Requirements
In some cases, brokerages, such as Edward Jones, JP Morgan Chase, Computershare, and LPL Financial, have such unique requirements that we must work with the donor's financial advisor to process the gift. A Donor Operations team member will step in to facilitate these types of donations, but, thanks to Overflow's new financial advisor experience, processing these types of gifts is straightforward for the donor, the financial advisor, and the receiving organization!
4) Increased Processing Times at Year-End
During the end of the year, brokerages take longer to process stock donation requests due to the high volume of giving at year-end. During this season, we may work more closely with donors on a concierge basis to shorten the timeline and help donors' gifts transfer within the calendar year.
Examples of End of Year Brokerage Delays:
E*Trade Employee Stock Plans: 3-week delay
E*Trade Financial: 2-week delay
Merrill Lynch: 15 business day delay
Fidelity Investments: 10 business day delay
5) Large Gift Values
Some brokerages require a medallion signature to transfer a stock gift when the donation value is above a certain threshold. While inconvenient, medallion signatures are requested to protect the security of the donor's account. Overflow's Concierge Support team provides the donor with all the necessary steps to ensure this requirement is fulfilled smoothly and walks with them every step of the way.
With Concierge Support, you don't need to learn to navigate the complex landscape of stock giving. That's what Overflow is for.
Questions? Please email firstname.lastname@example.org.