You don't have to limit your giving to dollars and cents.
Donating assets can be one of the most tax-efficient ways to act on your generosity. We've partnered with Overflow to make donating assets such as: stock, crypto, and DAFs quick, easy, and secure.
Who is Overflow?
Overflow is a digital solution for donating non-cash assets, helping you give in a tax-efficient way. Right from your mobile device, you’ll experience the ease of giving via stock, crypto, or from your Donor Advised Fund in less than five minutes. Overflow also provides you with access to a private Donor Portal that provides visibility into your transaction history, transaction statuses, and the ability to update connected financial accounts.
What is the tax benefit of donating appreciated stock?
Donating appreciated stock that you've held for over a year could allow you to save up to 20% in capital gains taxes and potentially up to 37% in federal income taxes on the charitable donation value of your gift based on your tax bracket when itemizing deductions. To understand the full tax benefits of giving appreciated stock, including potential state tax savings, please consult with your tax professional for information about your personal tax implications.
Is giving through Overflow safe and secure?
Overflow's Information Security Program is SOC 2 compliant, a widely respected information security auditing procedure. Overflow does not have access to or store any brokerage account usernames or passwords. They use Yodlee, a third-party provider, that handles the brokerage log-in process. Over 600 companies including, PayPal, Mint, and Amazon, use Yodlee to connect their clients’ accounts.
Can I give through my 401K or IRA?
Overflow can process all whole shares of publicly traded stock, including 401Ks and IRAs. However, because donors often incur penalties for withdrawing these assets before a certain date, we highly recommend consulting your tax professional before donating these types of assets. Donating 401Ks or IRA could result in major tax penalties or even fewer tax benefits than donating cash.
What specific stock can I donate?
You can give any publicly traded stock through Overflow. By donating assets that have appreciated in value for more than one year, you are more likely to maximize the potential tax benefits of your gift.
Does Overflow support gifts from my brokerage account?
Overflow currently supports more than 10 brokerages via their self-guided platform, including the most popular brokers such as Charles Schwab, Fidelity, and E*Trade. If Overflow doesn't have a direct connection to your brokerage account, your gift can still be fulfilled through their off-platform concierge service. If you are in Overflow's donor experience and your brokerage account is not one of the 10+ currently supported with a direct connection, you'll be taken to a form to contact Overflow's transaction operations team. Email stockgifts@overflow.co to choose to opt into Overflow's fully-guided concierge service.
What is cryptocurrency?
Cryptocurrency, or commonly known as Crypto, is a decentralized digital form of currency based on blockchain technology. Unlike the U.S. dollar or Euro, no central authority manages and maintains the value of a cryptocurrency. Instead, cryptocurrency is broadly distributed among its users via the internet.
Why does Mosaic accept cryptocurrency?
God provides for us in a number of ways, including cryptocurrency! Since cryptocurrency has value, it provides one more way we can honor God through giving.
Are cryptocurrency gifts refundable?
Because the value of cryptocurrency can change within a short period of time, we are unable to refund donations of cryptocurrency for any reason. Make sure your gift is correct before completing it!
Are cryptocurrency gifts tax-deductible?
Yes! Your cryptocurrency donation is tax-deductible. Because it’s a non-cash donation, it will not appear on your regular end-of-year giving statement. Instead, you will receive a separate letter acknowledging your gift(s) for tax purposes.
Are cryptocurrency gifts tax-deductible?
Our partner, Overflow, has an entire knowledge base of answers to your questions. You can visit their website using this link: Overflow Giving Help.
You can also email the Overflow team directly at support@overflow.co.
Be sure to check with your tax advisor about any tax implications for your individual situation.