Stock Donator provides a secure, fast, and simple TM web enabled service to donate publicly traded stocks to various organizations.
Here’s how it works:
STEP 1 – Individual donors log on to www.stockdonator.com and enter the information required to donate stock including:
1. The specific stock and number or shares.
2. Selecting the receiving organization.
3. Identifying personal and brokerage information.
STEP 2 – Stock Donator is secure and collects all entered information and generates the required forms to send onto the Donor’s Brokerage Firm.
STEP 3 – As certain Brokerage Firms use Medallion Signatures (MS) as an additional means to validate the donation request, the next step is dependent upon the Brokerage Firm’s MS requirement:
1. For those Brokerage Firms not requiring a MS, Stock Donator electronically transfers the request directly to the Brokerage Firm.
2. For those brokerages requiring a MS, Stock Donator provides the forms to the Donor, who in turn must (1) go to a financial institution, (2) receive a MS, and then (3) send the completed form to the Brokerage Firm.
STEP 4 – Stock Donator receives the stock donations from the Donor’s Brokerage Firm.
STEP 5 – Stock Donator provides the stock proceeds net of any fees and service charges to the receiving organization, based on the organization’s preference to either liquidate immediately or transfer the stock.
STEP 6 – To complete the process, Stock Donator provides the Donor with the transaction receipts needed to claim the tax deduction for the stock donations.