You have activated Overflow, linked it on your website, shared it with supporters, and now you have your first stock gift. Awesome! Let's walk through what happens next.
⚠️ Before you go any further, we must warn you! Please DO NOT confirm receipt of a stock gift until it arrives in your hands. We know it is tempting to complete all the pending tasks in your Dashboard, but the date you choose as the gift receipt date is what populates in the donor's acknowledgment letter and therefore must be treated with caution. Stock gifts can take anywhere from 1 day to 2 weeks to process, and it isn't until the gift is fully processed and arrives in your account that it is officially yours.
Ok, now you're ready to dive in!
Stock Donation Receipt Timeline
DAY 0: Donor initiates a stock donation
When a donor clicks "Send Donation" on the Overflow platform, the stock gift transfer is initiated to your organization. All admins on your Overflow Account will receive an automated email alert letting you know a stock gift is on its way.
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: The stock donation leaves the sending 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 a donor sends 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)
If any troubleshooting is necessary, Overflow's Donor Operations team will update the notes on the gift which you can view within the contribution history window in your Dashboard. We also may reach out directly via email. You can learn more about our Concierge Support here.
FINAL DAY: The stock donation arrives in your organization's account. 🎉
The gift will arrive in your organization's account the same day it leaves the donor's brokerage account.
For liquidation clients, this means the stock will arrive in Overflow's brokerage account to then be processed for liquidation and sent as cash to your bank account. Our Donor Operations team will email add admins on your Overflow account with the important liquidation information you need to confirm receipt of the gift.
For brokerage clients, this is the final day of processing. Overflow does not have visibility into your brokerage account, so we won't be able to alert you when the stock arrives. We recommend monitoring your account daily if you want to liquidate the assets as soon as they arrive.
What Comes Next
You're now ready to confirm receipt of the donation! Click on the method you've chosen below to learn more:
Is your gift exceeding these timelines? Have a question about a donation? The Dashboard is the main place to check the status of your stock gifts. In the Contributions tab of the Dashboard, you can click any item to open the donation details window and view the gift's current status, history, and gift notes from Overflow's Donor Operations team.
Still have a question? Request a status update from your Dashboard or email our Donor Operations team at stockgifts@overflow.co.
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