DonateStock and GiveSmart by Community Brands Partner
GiveSmart by Community Brands has partnered with DonateStock to make charitable stock gifting available as a referral offering to thousands of nonprofits.
DonateStock has revolutionized the stock gifting process by making it accessible and easy for all nonprofits and donors. Previously, less than one percent of nonprofits could accept stock gifts. DonateStock is closing that gap by enabling all nonprofits to solicit and receive gifts of appreciated stock– no brokerage required.
Stock gifting also represents a smarter, tax-advantaged way for donors to support nonprofits. By making a pre-tax stock gift, a donor may avoid the capital gains tax while also deducting the market value of the gifted stock.
Community Brands is the leading provider of cloud-based software and payment solutions for associations, nonprofits, and K-12 schools. Their GiveSmart fundraising tools are "best-in-class" to support the modern nonprofit's success, mission growth, and donor management. With this collaboration, GiveSmart DonorCRM customers can now offer donors a more tax-advantaged way to support their mission via appreciated stock. When donors give appreciated stock, they can avoid capital gains tax on the increased value of the stock while deducting the fair market value of the donated stock. DonateStock facilitates the online donation, converts the stock to cash, and distributes the proceeds to the nonprofit while providing transparency, notifications, and dashboard reporting. There is also no cost to get started.
"We are excited to be able to help nonprofits and schools further expand their donors' impact and grow their outreach as a part of our partnership with DonateStock. Bringing this offering to our customers provides an innovative solution to grow, scale, or start their stock gifting program," said Steve Greanias, GM of GiveSmart by Community Brands. "We understand nonprofits' and schools' need to stay nimble and engaged while offering donors new ways to give, with this partnership, we can provide a new technology to enable organizations and schools best to focus on advancing their missions."
"We are all about inclusion and enabling donors to give smarter to the causes they love," said Steve Latham, DonateStock's co-founder and CEO. "By making charitable stock gifting easy for GiveSmart nonprofits and their donors, we can unlock millions in untapped funding for thousands of worthy nonprofit organizations."
This announcement coincides with DonateStock's $500,000 match to boost end-of-year giving. DonateStock will match dollar-for-dollar, donations up to $1,000 per stock gift to registered nonprofits throughout the remainder of 2022.
Matching funds are made possible through DonateStock's partnership with Wag! and its Community Shares Program to eligible nonprofits.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of NonProfit PRO.