Who is Overflow?
Overflow is an online giving software that empowers donors to easily donate stock to nonprofits in minutes, not months. 90% of US wealth is in non-cash assets. So if you are only accepting cash, you are missing massive giving potential. Here is a mind-blowing statistic: the average cash donation in the US is $128, but the average stock donation through Overflow is $10,000. The best part is, there’s no need to switch giving software - Overflow can be added right alongside your current credit/debit/ACH donation form! You also don’t need a brokerage account to receive stock donations through Overflow. Integrate Overflow with Virtuous and unlock new channels of generosity.
Setting up the Integration
In order to begin receiving stock donations and sync stock gift information from Overflow to your Virtuous CRM, you will first need an Overflow account.
Complete this form to learn how Overflow can serve your organization and the next steps to sign up for an account: https://www.overflow.co/virtuous
Once your Overflow account is established, you can connect your Overflow Dashboard to Virtuous by following these instructions:
- Locate your Overflow Public API Key by logging in to your Virtuous account Then:
- Go to Settings
-
- Select All Settings
- Select Connectivity
- Select "Application Keys"- Please note that there is a tab for Overflow but the integration has changed and no longer uses that button. Please make sure to choose Application Keys.
- Select "Create an Application Key"
- In the dropdown that opens, select Overflow
- Select "Submit".
- Copy the key and send it to support@overflow.co along with your organization name.
- The Overflow team will let you know when the integration is established.
If you have any questions, please email support@overflow.co.
Adding Overflow to Forms
To add a stock giving option to any giving form, look for the Overflow field in the Plugins section of the form builder, and drag it to your form.
When donors visit your giving form, they will see the option to select "Stock Donation," which will prompt them to log in to their brokerage account.
How Does Overflow Work?
In order for your nonprofit to receive stock donations, you must have a brokerage account set up, but don’t worry, setting one up is easy! Overflow facilitates stock transactions with the top US brokerages. Each Broker has its own stock delivery time, that is how many business days it takes the brokerage to accept the stock donation from the donor, facilitated through Overflow.
At no point in the transfer process does Overflow hold onto the shares, it simply shuttles the donation directly from donor to nonprofit through backend integration with top brokerages.
Just like with payments or donations through a credit card, a transaction fee occurs to cover back office expenses. Stock donations that flow through the Overflow platform will incur a 5% transaction fee, that will be billed to the nonprofit quarterly. To not discourage large donations, the 5% transaction fee will be capped at the value on a $25,000 donation (e.g. a $100,000 donation will only incur a $1250 transaction fee.)
Comments
0 comments
Article is closed for comments.