If you're looking to transfer shares from your Fidelity account to Daffy, you're in the right place. Daffy is a fantastic option for a Donor-Advised Fund (DAF), offering significantly lower fees than traditional providers like Fidelity. This means more of your money goes to the causes you care about, not administrative costs.
To start the process, you'll need to create a stock contribution intent on the Daffy app or website. Simply select “Stock” in the “Add Funds” section and follow the prompts. Please note that Daffy only accepts publicly traded stocks and ETFs.
Fidelity requires account holders to complete a [paper form](https://drive.google.com/file/d/1IiNxJ_876H0kaDnCfeu626ZOJDdawZiL/view?usp=sharing) to transfer shares as a gift. This form is editable and has been pre-filled with Daffy’s information in Section 2. Type in the email address you use to log into your Daffy account in the “For the Benefit of” section (next to Daffy Charitable Fund).
Remember to record the cost basis of an asset you are donating before transferring the asset to charity. Most brokerages do not keep a record of the cost basis once the asset has left your account, and you may need this information for tax forms at the end of the year. Daffy does not have access to cost basis information for contributions.
Transferring a DAF account to Daffy is easy and free of charge. Simply log into your Daffy account, tap Add Funds, and tap “DAF transfer”. Indicate how much you are transferring and from which provider. Then, log into your existing provider and make a grant of any amount to the Daffy Charitable Fund.
With Daffy, you can increase your impact on the causes and organizations that you care about. Start your transfer today and experience the Daffy difference.
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.