I have not, as a don’t have stock to donate. My guess it it at least skips the DAF step, so it’s simpler, though it might not actually be fully straightforward. Curious to hear from someone who tries it.
We’ve had a bunch of people donate stocks to us through Every.org. I think it’s worked fine? I don’t actually know what the UI looks like, but it seems to work.
There’s typically a step where you need to give your broker a letter, and some brokers require that letter to be notarized. What every.org is doing is automatically generating the letter, and walking you through the process.
My understanding is that I can simply need to print and send the letter/email from Every.org to Interactive Brokers, and they will facilitate the transfer.
One thing to note here is that end-of-year transfers can only be facilitated if the request has been made by the start of December. Another is that because I submitted my request too late in December, I will have to submit it again in January.
However, all things considered, if they do facilitate the transaction based on the submission of the email/letter shared from Every.org it will feel like a relatively straightforward process for me. However, maybe I’m going to find out later that there are some other complications in the process that I’ve missed?
I am guessing that since this is just about capital gains, the advice doesn’t necessarily hold for RSUs (if you sell your RSUs immediately), is that correct? I usually only have nominal capital gains due to a few days or weeks’ delay between RSUs being issued and me selling them.
The way this is framed it sounds like it mostly applies to the situation where you have assets but not cash and you would sell the assets to get cash to donate, but it sounds like even if you have cash to donate, if your assets have a lot of capital gains it also makes sense to just donate them and buy more at a higher cost basis as a way to reset your cost basis on some of your stock.
Seems like good advice! Now I just need to see how this interacts with my employer’s donation matching...
If they set up an every.org page it looks straightforward? e.g. select stock on this
Have you tried the steps that follow?
I have not, as a don’t have stock to donate. My guess it it at least skips the DAF step, so it’s simpler, though it might not actually be fully straightforward. Curious to hear from someone who tries it.
We’ve had a bunch of people donate stocks to us through Every.org. I think it’s worked fine? I don’t actually know what the UI looks like, but it seems to work.
There’s typically a step where you need to give your broker a letter, and some brokers require that letter to be notarized. What every.org is doing is automatically generating the letter, and walking you through the process.
My understanding is that I can simply need to print and send the letter/email from Every.org to Interactive Brokers, and they will facilitate the transfer.
One thing to note here is that end-of-year transfers can only be facilitated if the request has been made by the start of December. Another is that because I submitted my request too late in December, I will have to submit it again in January.
However, all things considered, if they do facilitate the transaction based on the submission of the email/letter shared from Every.org it will feel like a relatively straightforward process for me. However, maybe I’m going to find out later that there are some other complications in the process that I’ve missed?
Two questions:
I am guessing that since this is just about capital gains, the advice doesn’t necessarily hold for RSUs (if you sell your RSUs immediately), is that correct? I usually only have nominal capital gains due to a few days or weeks’ delay between RSUs being issued and me selling them.
The way this is framed it sounds like it mostly applies to the situation where you have assets but not cash and you would sell the assets to get cash to donate, but it sounds like even if you have cash to donate, if your assets have a lot of capital gains it also makes sense to just donate them and buy more at a higher cost basis as a way to reset your cost basis on some of your stock.
Seems like good advice! Now I just need to see how this interacts with my employer’s donation matching...
1: That’s right. I technically should have said something like “don’t sell significantly appreciated stock to donate”.
2: That sounds right, but be careful with rules around wash sales.