How to help: Hurricane Helene and Hurricane Milton guidance
Time is running out to make tax-deductible contributions in 2024. Review our year-end contribution guidelines.
Contributions
This tutorial guides you in making a contribution on your client's behalf from a non-Fidelity account using our advisor platform, GivingCentral. If you have not already done so, you’ll need to register on GivingCentral.
1. Initiate the contribution
From the action menu, select contribute. If you do not see this option, you will need to request transactional access from your client.
2. Review the disclosure agreement
If you agree, proceed to the next step.
Identifiy the donor
Select the donor on whose behalf you are making the contribution. A Letter of Authorization previously submitted by the donor will dictate the type of contributions permitted through this process.
1. Select the donor
If the appropriate client is not listed, you do not have transactional access on the account. To proceed, you will need to request transactional access from your client.
Identify the type of contribution
This process allows you to contribute stocks or mutual funds, a check or wire transfer, or a stock certificate from a non-Fidelity account. For this example, we will walk through contributing stock, but the process for other asset types is similar.
1. Select the appropriate asset type for the contribution.
Please call Fidelity Charitable if the contribution type falls within the bulleted list as these assets require additional coordination.
Tip: Processing times vary by asset type. Use these guidelines to set client expectations. During high volumes, these guidelines are subject to change.
Identify the source of the contribution
Provide basic information for the delivering firm.
1. Enter delivering firm contact information
This information will be used to populate a Letter of Instruction for securities from a financial institution other than Fidelity Investments.
Tip: Providing as much information here as possible expedites processing time.
Enter Security Information
Identify the type of security being donated.
1. Enter security information
If contributing stock, you will be asked for specific security information.
2. Confirm information provided
By selecting next, you will have the opportunity to confirm this information and make any necessary edits and/or add additional securities.
Tip: If you are unsure of the symbol, this search tool allows you to look it up without leaving the platform. You will have the opportunity to add additional securities on the next screen if applicable.
For accounts with an associated managed account, you will have the option to allocate the contribution to the managed account or to the pools. For accounts without an associated managed account, you will be presented with investment pool options.
1. Allocate the contribution appropriately.
Allocate the contribution. Skip this step if you selected Advisor Managed in the previous step.
1. Recommend allocation
Balances are recalculated at the close of each business day. The exact balance may vary from the amount shown by the tool.
You also have the option to use the same percentages as the current Giving Account.
This is your final opportunity to confirm the information provided before making an irrevocable contribution on your client’s behalf.
1. Review contribution details.
2. Indicate how to process the contribution.
You will need to indicate who will initiate the transfer, you or Fidelity Charitable. Once submitted, the contribution is irrevocable.
To fully complete this process, select submit and proceed to the final step.
Tip: During peak giving times, processing will likely be expedited if your firm initiates the transfer.
Transfer assets or prepare documentation
Transfer the assets to the Fidelity Account. If needed, complete the Letter of Instruction.
1. Transfer assets
Transfer the assets to the Fidelity Account. If needed, complete the Letter of Instructions.
2. Prepare and send documentation
If you plan for Fidelity Charitable to transfer the assets, please print, review and sign the pre-filled Letter of Instruction (LOI) form. Fidelity Charitable cannot initiate the transfer until this form is received.
Tip: Please expect about 2 weeks for the stocks and 4-6 weeks for mutual funds to be processed by your financial institution.
For Advisors
Can I contribute cash via check or wire on behalf of my client?
Can my client donate restricted or controlled stock?
Can my client donate private or non-publicly traded assets?
Can my client donate cryptocurrencies?
Can my client donate master limited partnerships (MLPs)?
Can my client contribute from an IRA (QCD)?
What will my client receive after donating a complex asset?
How can I get tax receipts for filing purposes?
Why is additional information needed for third party contributions?
From a Fidelity Brokerage account, what is the most efficient way to make a contribution on behalf of my client?
From a non-Fidelity Brokerage account, what is the most efficient way to make a contribution on behalf of my client?
To Initiate with Client
The fastest way to transfer the assets is to work directly with the outside firm, following the firm’s policies and procedures. These are the specific delivery instructions:
Deliver to DTC Clearing 0226
Account Number: Z97-000442
FBO: Fidelity Charitable Giving Account Number: _ _ _ _ _ _ _ _ _ _
See the Broker-Dealer Instructions
You must still notify Fidelity Charitable of the contribution either through GivingCentral (if you have transactional access to the Giving Account) or via the Contribution Form. This ensures that Fidelity Charitable is aware the contribution is coming and can process it appropriately.
For Fidelity Charitable to Initiate
Alternatively, you may authorize Fidelity Charitable to initiate the transfer of assets by completing the following steps:
Note: For mutual funds, Fidelity Charitable must initiate the transfer.
Additional Information
Once completed, please fax the form and statement copy to 877-665-4274, or you can mail to:
(Regular mail) Fidelity Charitable, P.O. Box 770001, Cincinnati, OH 45277-0053
(Overnight mail) Fidelity Charitable, 100 Crosby Parkway KC1D-FCS, Covington, KY 41015-9325
It typically takes 3- 6 weeks for Fidelity Charitable to receive assets from the outside firm. The information you provide will allow us to quickly match the contribution to the Giving Account once it is received. If we do not have the pending contribution on the Giving Account based on the information you provide, the assets could be returned to the outside firm.
Fidelity Charitable will provide notification and a tax receipt to the donor when the contribution settles into the account. An alert will also be sent to you if you have subscribed to contribution alert. The tax receipt should also be available in GivingCentral to download.
IMPORTANT NOTE: If a pool allocation is not selected, the contribution will be allocated to reflect the current pool allocation of the Giving Account. If the Giving Account is unfunded, the contribution will be allocated to the Asset Allocation 20% Equity Pool.
Can I contribute cash via check or wire on behalf of my client?
Yes, log in to GivingCentral (if you have transactional access to the Giving Account) and select Make a Contribution from drop down menu.
Select the option for check or wire transfer. You will be asked to provide information about the cash amount of the contribution and to recommend allocations. It is important to complete all steps and click Submit so that Fidelity Charitable is aware the contribution is coming and can process it appropriately.
For wire contributions
Fidelity Charitable will not initiate the wire. Specific instructions to wire include:
Wire to: JPMorgan Chase Bank
ABA: 021000021
For Credit to: NFS 066196-221
FBO: Fidelity Charitable Z97000442
Memo: CGF#_______
*The wire will be rejected if necessary account numbers are not provided, which may incur a fee from your bank.
For check contributions
Fidelity Charitable will not accept contributions of currency or certain cash-like monetary instruments, including official checks, bank drafts, traveler’s checks, or money orders.
Fidelity Charitable will provide notification and a tax receipt to the donor when the contribution settles into the Giving Account. An alert will also be sent to you if you have subscribed to contribution alerts. A tax receipt should also available in GivingCentral to download.
IMPORTANT NOTE: If a pool allocation is not selected, the contribution will be allocated to reflect the current pool allocation of the Giving Account. If the Giving Account is unfunded, the contribution will be allocated to the Asset Allocation 20% Equity Pool.
Alternatively, you may use the Contribution Form if you prefer a non-digital experience. Once completed, please fax the form to 877-665-4274, or you can mail to:
(Regular mail) Fidelity Charitable, P.O. Box 770001, Cincinnati, OH 45277-0053
(Overnight mail) Fidelity Charitable, 100 Crosby Parkway KC1D-FCS, Covington, KY 41015-9325. Advisor signature accepted for transactional advisors.
Cash equivalents, publicly traded stock, mutual fund shares, bonds, certain private or restricted stock, certain cryptocurrencies, and select real estate are eligible for contribution to Fidelity Charitable.
To contribute restricted or controlled stock, Fidelity Charitable requires a 144/145 Contribution Form (PDF). Our Fidelity Charitable fundraising team is available to assist you in processing the contribution and if any additional special handling instructions are required.
To contribute private or non-publicly traded assets, Fidelity Charitable requires a Complex Asset Contribution Form. They will also assist you in processing of the contribution and if any additional special handling instructions are required. More information can be found regarding Private company C-corp stock, Private company S-corp stock, LLC & Limited Partnership interests, Private equity and real estate.
To contribute certain cryptocurrencies, Fidelity Charitable requires a Cryptocurrency Letter of Understanding (LOU). Contact our Fidelity Charitable fundraising team to process the contribution as additional special handling instructions may be required.
Please contact the Fidelity Charitable fundraising team for more information.
It is important to speak with a tax advisor or attorney about your client’s specific situation. Fidelity Charitable does not provide tax or legal advice. In general, whenever you take money out of a tax-deferred account (IRA, 401(k), 403(b), etc.), the distribution is considered income to your clients and is a taxable event. Therefore, they would have to pay the taxes due upon the value of the distributed assets and the remaining money would go to the charitable organization.
Some charities (such as private foundations and donor-advised funds) do not qualify for QCDs. However, there may be certain exceptions for "employer securities" (shares of an employer's stock, or "company stock") held in a 401(k) account. Please consult a tax advisor for more information.
Your client will receive a confirmation letter that serves as a record of the contribution for tax deduction purposes. The letter also states that the tax-deductible value of a charitable contribution is generally the Fair Market Value on the date of the contribution. This confirmation reports the Fair Market Value for cash contributions as the amount of cash received. For publicly-traded securities, the Fair Market Value is reported as the average of the high and low prices on the date Fidelity Charitable received the contribution (i.e., the "Receive Date"). For all other assets, the Fair Market Value is reported as "N/A". Generally, unless an exception is available, you need an appraisal for contributions of non-publicly traded assets for which you claim a deduction of more than $5,000.
You can access your clients’ tax receipts on GivingCentral. Select the client’s account, click on the Statements & Confirmations tab and then Form 8283 and select which year is need. If you need other tax receipts, click on Contribution, Exchange, and Miscellaneous Transaction Confirmations (on the Statements & Confirmations tab). Then use the drop down to select which date is need.
Donors can access their tax receipts online. After logging into the donor portal, click the "History" tab and then "Statements & Confirmations". Then use the dropdown menu to select IRS Form 8283. All available forms will be displayed on the page. If you need other tax receipts, use the dropdown menu and select "Contributions (tax receipts) & misc.
Why is additional information needed for third party contributions?
A third party is any person or entity that makes a contribution to Fidelity Charitable that is not an Account Holder on the Giving Account. Third parties can include a trust (even if the TIN matches the donor’s SSN), corporation, limited liability company, or partnership.
Fidelity Charitable is responsible for providing the most accurate documentation based on available information to its donors for their contributions for tax reporting. Some donors choose to make contributions to Fidelity Charitable on behalf of third party entities, and we understand that it is critical for the documentation for tax reporting to be accurate to ensure donors and donor-advisors can file their tax returns accurately.