What happens to the stock I contribute to Daffy?


When you contribute stock to Daffy, a leading donor-advised fund provider, the process is simple and efficient. As a member, you can make irrevocable contributions of nearly all publicly traded stock. Upon receipt, Daffy liquidates the stock and the balance is promptly added to your Daffy account. To ensure a smooth and quick 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 following the prompts. This step is crucial before initiating a stock transfer with your brokerage. Daffy's receiving brokerage is Apex Clearing, with DTC Number 0158 and Account Number 9SC05050. The account name is Daffy Charitable Fund and Daffy's EIN is 86-3177440, if needed. To ensure your stock is attributed to your account, please include your name in the "For Benefit Of" or "Memo" field. Daffy also provides specific brokerage instructions for E-Trade, Fidelity, Vanguard, and Schwab. If you have any questions, Daffy's support team is readily available to assist you. Donating appreciated stock instead of cash allows more money to go to charity. Daffy makes this process easy, allowing for a tax deduction and giving you more time to decide which organizations to support. The stock will be liquidated and added to your fund balance once received, usually within 7-10 days. In conclusion, Daffy offers a seamless and efficient way to contribute stock to your donor-advised fund, maximizing your charitable impact and providing tax benefits.

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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