What does a Bay Area pastor know about nonprofits and charitable giving?
Turns out he knows quite a lot.
At least if that guy is Vance Roush.
Vance is Founder of Overflow.co, a platform created to help unlock generosity across the globe. Vance and I chatted recently about how his platform is changing the way donors give in a big way!
Overflow is a platform that helps generous individuals give to charities and ministry organizations directly from their stock accounts. And given that 90% of wealth in the U.S. is held in non-cash assets, a platform like Overflow is pretty brilliant.
In my recent conversation with Dr. Russell James at Texas Tech, we also talked about the importance of asset-based giving, and why donors tend to be even more generous when they give from assets instead of from their available cash.
As Vance points out, if one of your supporters were to sell off appreciated stock in order to give a gift to your nonprofit organization, they’d be negatively impacted by capital gains taxes, AND they’d end up giving less to your organization. But if they give that same stock directly to your organization instead of selling it first, that tax exposure is reduced, AND, your organization can receive the full value of that gift. It’s a win for both you and your donor.
According to Vance, the average contribution via Overflow.co is currently more than $9,000!
When you look at other charitable giving programs that deliver average gifts of $20 – $35 (maybe $50 or $100 if you’re lucky), you can see why an easy-to-use platform like Overflow could make a huge impact for nonprofits and ministry organizations.
I firmly believe that platforms like this will become more valuable and central to giving in the future, especially as Millennials and other younger audiences look to increase their impact on the world by giving generously.
Vance’s heart’s desire is to increase generosity and help you achieve greater mission impact. When you listen to this episode, you can’t help but believe his authentic desire to increase generosity across the planet.
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This podcast episode is sponsored and made possible by my partners at Altus Marketing.