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How can I contribute stock as a Daffy member?

Stock

As a Daffy member, contributing stock to your Daffy account is a straightforward process that not only benefits your chosen charities but also provides you with a tax deduction. Daffy, a leading donor-advised fund (DAF) provider, accepts nearly all publicly traded stock, making it an excellent option for those looking to donate in this manner. To contribute stock, you first need to create a stock contribution intent on the Daffy app or website. This can be done by selecting “Stock” in the “Add Funds” section and following the prompts. Once this is done, you can initiate a stock transfer from your brokerage to Daffy's account at Apex Clearing, using the provided account information. Remember to include your name in the "For Benefit Of" or "Memo" field to ensure the stock is attributed to your Daffy account. Once received, the stock is liquidated and the balance is added to your Daffy account, usually within 7-10 days. Daffy also provides specific brokerage instructions for E-Trade, Fidelity, Vanguard, and Schwab, making the process even easier. If you have any questions, Daffy's support team is ready to assist via email. By donating appreciated stock instead of cash, more money goes to charity. This method also allows for a tax deduction and gives you more time to decide which organizations to support. With Daffy, contributing stock is not only easy but also a great way to maximize your charitable giving.

Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.

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