EquityZen Collaborates with Fidelity Charitable to Create Awareness of High-Impact Giving Strategies and Facilitate Donations of Private Shares

NEW YORK, Nov. 27, 2018 /PRNewswire/ -- EquityZen, a leading marketplace for buying and selling private company shares, has collaborated with Fidelity Charitable, an independent, 501(c)(3) public charity to provide shareholders an easy way to donate private company shares to support charities or causes of their choice.  Through this strategy, founders, executives, and other private company shareholders may minimize capital gains tax, become eligible for a charitable tax deduction, and potentially give more for their favorite charitable causes. 

EquityZen aims to unlock the power of the appreciation in private capital investments as a strategic charitable funding source.  Fidelity Charitable has long been a leader in philanthropy and, specifically, donor-advised fund programs.  In 2017, Fidelity Charitable donors contributed nearly $1 billion of non-publicly traded assets dedicated to charity.

In addition to supporting important causes, private company shareholders can reduce their tax obligation through charitable giving. "It's truly a double bottom line, and we're thrilled about that.  Our customers can make a positive social impact to causes they are passionate about and receive tax benefits at the same time," said Shriram Bhashyam, co-founder and Chief Strategy Officer of EquityZen Inc. 

A charitable donation of private company shares can allow donors to give more for the charitable causes of their choice. Donors may also be able to minimize capital gains taxes and offset recognized capital gains taxes after a liquidity event, becoming eligible for a charitable tax deduction equal to the fair-market value of the donated shares.

How It Works
EquityZen customers can establish a Giving Account through the donor-advised fund program at Fidelity Charitable. Once set up, shareholders can fund this Giving Account by donating private company shares to Fidelity Charitable, subject to Fidelity Charitable's acceptance policies and procedures.  Ultimately Fidelity Charitable will sell the donated shares and fund the donor's Giving Account with the proceeds.  Donors must obtain a qualified appraisal for the donated shares to substantiate the tax deduction.  Donors can then make grant recommendations to any IRS-qualified public charity.  To find out more, please visit https://equityzen.com/fidelity-charitable/. 

About EquityZen
EquityZen Inc. (equityzen.com) is a rapidly-growing marketplace for making investments in late-stage private technology companies. EquityZen provides accredited investors, wealth advisors, and institutional money managers access to private markets.

With over 5,000 private placements completed in 100+ premier private companies, EquityZen is building private markets for the public. Investors in the company include behemoths from Silicon Valley and Wall Street, like Draper Associates and WorldQuant Ventures.

Media Contact
Deborah Kostroun
201.403.8185
[email protected]

SOURCE EquityZen Inc.

Related Links

http://equityzen.com