Initiating a stock transfer from your brokerage to Daffy is a straightforward process that can be done in a few simple steps. As a Daffy member, you have the ability to make irrevocable contributions of nearly all publicly traded stock. This is a great option for a Donor-Advised Fund (DAF) as all stock is liquidated upon receipt and the balance is added to your Daffy account as soon as it is available.
To begin the process, you must first create a stock contribution intent on the Daffy app or website. This can be done by selecting “Stock” in the “Add Funds” section and answering the prompts to let Daffy know your stock is coming. This step is crucial to ensure that your stock is attributed to your account quickly.
Once you've created your stock contribution intent, you can initiate the stock transfer directly from your brokerage or through your financial advisor. Daffy's account information is as follows:
- Receiving Brokerage Name: Apex Clearing
- DTC Number: 0158
- Account Number: 9SC05050
- Account Name: Daffy Charitable Fund
- Daffy's EIN (if needed): 86-3177440
Remember to put your name in the "For Benefit Of" or "Memo" field. This will allow Daffy to attribute your stock to your account.
Daffy also provides specific brokerage instructions for E-Trade, Fidelity, Vanguard, and Schwab. If you have any questions, you can reach out to Daffy's support team at email@example.com.
Choosing Daffy for your DAF is a smart choice. Not only does it allow you to contribute nearly all publicly traded stock, but it also ensures a quick and efficient transfer process. With Daffy, you can be confident that your contributions are being managed effectively and efficiently.
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.