HOUSTON--(BUSINESS WIRE)--After finalizing its successful beta testing phase, DonateStock™ will officially launch on August 17, 2021, National Nonprofit Day. As part of its official launch, DonateStock™ will be waiving fees for nonprofits and matching all investors’ donations up to $500 per donation. DonateStock™ helps nonprofit organizations tap into new sources of funding while making tax-advantaged stock donations fast, safe and free for donors.
Donating stock offers significant advantages to both donors and nonprofits. Donors win by avoiding capital gains tax while being able to deduct the fair market value of the stock. Nonprofit organizations win as pre-tax stock donations are often much larger than after-tax cash donations. When someone donates stock, nonprofits receive the proceeds that would have otherwise been paid to the IRS.
DonateStock™ helps nonprofit organizations by lifting the administrative burden and providing transparency into the stock donation process. The company also arms nonprofits with a marketing playbook, creative assets and an account manager to help them educate donors and solicit stock donations in a meaningful way. During its beta testing phase, DonateStock™ partnered with almost 100 nonprofits, including Atlanta’s Habitat for Humanity, Houston’s Legacy Community Health and New York City’s A Leg To Stand On.
Less than two percent of all donors currently gift stocks to nonprofit organizations due to the lack of awareness of the tax benefits and the burdensome manual process of donating stock. DonateStock™ is democratizing the stock donation process by enabling 60 million American investors to donate stock with ease in 10 minutes or less. Donors simply register, select a nonprofit organization and specify the stock and number of shares they would like to donate. DonateStock™ handles the rest.
DonateStock™ is transforming charitable giving, by making stock gifting mainstream. DonateStock™ helps nonprofits access new sources of funding by enabling everyday investors to donate stock in minutes. Donors save big on taxes while nonprofits benefit from larger pre-tax donations. DonateStock™ is passionate about impacting communities by helping nonprofits and donors make the most of charitable giving.