DonateStock Announces Exclusive Stock Gifting Partnership With GVNG
- Landmark partnership is a first for donating stock to any nonprofit through a charitable giving wallet
- Partnership transforms year-end giving by allowing GVNG customers to donate stock instantly, take an immediate tax deduction, and distribute charitable gifts to the causes they choose at a later date
HOUSTON, Dec. 21, 2021 /PRNewswire/ -- DonateStock, a fintech startup transforming charitable giving has partnered with GVNG, empowering users to contribute stock to their personal GVNG Wallets. By donating appreciated stock to their GVNG Wallet via Donatestock, GVNG customers can now immediately realize the tax benefits of donating stock while reserving the option to choose which charity they would like to support until a later date.
DonateStock has revolutionized the online stock gifting process by making stock gifting accessible and easy for all donors and nonprofits. Previously, less than one percent of investors donate stock and few nonprofits solicit stock donations. DonateStock closes that gap by enabling 60 million American investors to donate stock to any accredited US nonprofit in 10 minutes or less.
GVNG is a simple and safe way to manage all charitable giving in one place while maximizing impact and tax benefits. Within the app and at their own pace, GVNG users can donate the funds to any U.S. charity. They allow users to contribute money, assets, crypto, and now stock to their accounts.
With this collaboration, GVNG customers contributing through DonateStock can avoid capital gains tax on the increased value of the stock and deduct the full market value of the stock immediately. The tax-deductible stock gift is processed by DonateStock and the proceeds are deposited into the holder's GVNG Wallet. Customers will receive the tax receipt from DonateStock Charitable, Inc. a registered 501c3. This innovative approach allows GVNG Wallet holders several years to distribute the proceeds from the donated stock, making it ideal for year-end tax-advantaged giving.
"We are excited to offer GVNG customers the ability to contribute appreciated stock to their GVNG Wallets in a way that is fast, safe, and easy. Appreciated stock represents billions in untapped funding for nonprofits. Through this partnership we're enabling millions of donors and causes to access it," Steve Latham, DonateStock's Founder and Chairman.
"Empowering donors to make the biggest impact is core to our mission and the partnership with DonateStock will enable charitably minded people to seamlessly and easily do more good with appreciated equity-based assets," said Kyle C. Murphy, CEO of GVNG Technology, the technology arm of GVNG.
Donors can contribute their charitable stock donation to their GVNG Wallet at https://donatestock.com/gvng
For media inquiries regarding DonateStock, please contact Jacquelyn Grant at 202-813-5360 or [email protected].
About DonateStock
DonateStock is a disruptive startup transforming charitable giving by making stock gifting easy and accessible to all nonprofits and donors. DonateStock streamlines the stock gifting process to help donors save on taxes while having greater impact. Nonprofits benefit from larger pre-tax donations and the tools and support needed to diversify and grow individual giving via stock donations. DonateStock is passionate about impacting communities by helping donors and nonprofits make the most out of charitable giving.
About GVNG
GVNG is as much a philosophy as a financial product and app–it is designed to increase giving by empowering the citizen philanthropist with the tools, inspiration, and support to become a better donor. The GVNG Wallet is like a 401k for giving, enabling individuals, companies, and other organizations to contribute funds, crypto, stocks, and bonds and get a tax benefit immediately, while providing a seamless path to donate to more than 1.6 million charities over time. Unique to GVNG, users can amplify their impact by running their own tax-deductible crowdfunding campaigns to support their favorite charitable causes. GVNG is integrated with payroll and banks to ensure giving is always part of the overall financial wellness picture and provides a unified picture of impact over time with a single tax receipt at the end of the year. The GVNG Wallet is administered by GVNGorg, a 501(c)(3) tax-exempt organization (a California nonprofit public benefit corporation) and powered by GVNG Technology, Inc.
Learn more at www.gvng.org.
Contact: Jacquelyn Grant
The TASC Group
Email: [email protected]
SOURCE DonateStock
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