{"id":3751,"date":"2019-09-19T10:11:35","date_gmt":"2019-09-19T15:11:35","guid":{"rendered":"https:\/\/www.nptrust.org\/?p=3751"},"modified":"2026-06-02T11:17:11","modified_gmt":"2026-06-02T16:17:11","slug":"donating-pre-ipo-shares-to-a-donor-advised-fund-for-charitable-impact","status":"publish","type":"post","link":"https:\/\/www.nptrust.org\/philanthropic-resources\/philanthropist\/donating-pre-ipo-shares-to-a-donor-advised-fund-for-charitable-impact\/","title":{"rendered":"Donating Pre-IPO Shares to a Donor-Advised Fund for Charitable Impact"},"content":{"rendered":"<p><span data-contrast=\"auto\">If your client\u2019s company is eyeing an initial public offering (IPO) sometime in the coming year, this is an ideal time to\u00a0<\/span><a href=\"https:\/\/www.nptrust.org\/philanthropic-resources\/philanthropist\/how-to-talk-with-clients-about-donor-advised-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">start a conversation<\/span><\/a><span data-contrast=\"auto\">\u00a0about philanthropic goals and how your client can use pre-IPO shares to support favorite causes. Assets that have appreciated in value can be among the most advantageous to give to c<\/span><span data-contrast=\"auto\">harity<\/span><span data-contrast=\"auto\">\u2014<\/span><span data-contrast=\"auto\">particularly<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">\u00a0shares<\/span><span data-contrast=\"auto\">\u00a0with a very\u00a0<\/span><span data-contrast=\"auto\">low cost<\/span><span data-contrast=\"auto\">\u00a0basis. Planning early is key, however, since donations of privately held stock can take longer to transfer.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">While the IPO market has been\u00a0<\/span><span data-contrast=\"auto\">relatively\u00a0<\/span><span data-contrast=\"auto\">quiet this year<\/span><span data-contrast=\"auto\">\u2014due in part\u00a0<\/span><span data-contrast=\"auto\">to the U.S. government shutdown and<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">to\u00a0<\/span><span data-contrast=\"auto\">political<\/span><span data-contrast=\"auto\">\u00a0uncertainties<\/span><span data-contrast=\"auto\">,<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">like<\/span><span data-contrast=\"auto\">\u00a0the trade war with China<\/span><span data-contrast=\"auto\">\u2014<\/span><span data-contrast=\"auto\">i<\/span><span data-contrast=\"auto\">t\u2019s starting to make some noise<\/span><span data-contrast=\"auto\">\u00a0again<\/span><span data-contrast=\"auto\">.<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">This spring<\/span><span data-contrast=\"auto\">, a donor\u00a0<\/span><span data-contrast=\"auto\">at a tech company\u00a0<\/span><span data-contrast=\"auto\">gave\u00a0<\/span><span data-contrast=\"auto\">pre-IPO\u00a0<\/span><span data-contrast=\"auto\">shares<\/span><span data-contrast=\"auto\">\u00a0valued at\u00a0<\/span><span data-contrast=\"auto\">$5 million\u00a0<\/span><span data-contrast=\"auto\">to his\u00a0<\/span><span data-contrast=\"auto\">N<\/span><span data-contrast=\"auto\">ational Philanthropic Trust\u00a0<\/span><span data-contrast=\"auto\">donor-advised fund<\/span><span data-contrast=\"auto\">\u00a0(DAF)<\/span><span data-contrast=\"auto\">.\u00a0<\/span><span data-contrast=\"auto\">NPT then participated in the<\/span><span data-contrast=\"auto\">\u00a0company\u2019s<\/span><span data-contrast=\"auto\">\u00a0IPO<\/span><span data-contrast=\"auto\">,\u00a0<\/span><span data-contrast=\"auto\">which\u00a0<\/span><span data-contrast=\"auto\">exceeded<\/span><span data-contrast=\"auto\">\u00a0expectations<\/span><span data-contrast=\"auto\">, making even more\u00a0<\/span><span data-contrast=\"auto\">c<\/span><span data-contrast=\"auto\">haritable capital\u00a0<\/span><span data-contrast=\"auto\">available for the donor\u2019s grantmaking<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Several advantages to donating\u00a0<\/span><span data-contrast=\"auto\">pre-<\/span><span data-contrast=\"auto\">IPO shares include:<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<blockquote><p><span data-contrast=\"auto\">A tax deduction of up to 30% of AGI for shares held for one year or longer (wi<\/span><span data-contrast=\"auto\">th\u00a0<\/span><span data-contrast=\"auto\">a\u00a0<\/span><span data-contrast=\"auto\">five<\/span><span data-contrast=\"auto\">-year carry forward) based on the asset\u2019s fair market value.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">Elimination of<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">capital gains taxes on any appreciation of the\u00a0<\/span><span data-contrast=\"auto\">asset<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">No need to\u00a0<\/span><span data-contrast=\"auto\">file forms with the SEC<\/span><span data-contrast=\"auto\">, as\u00a0<\/span><span data-contrast=\"auto\">might be required for\u00a0<\/span><span data-contrast=\"auto\">gifts of shares\u00a0<\/span><span data-contrast=\"auto\">after the IPO<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The a<\/span><span data-contrast=\"auto\">bility to support<\/span><span data-contrast=\"auto\">\u00a0multiple charities over time\u00a0<\/span><span data-contrast=\"auto\">while<\/span><span data-contrast=\"auto\">\u00a0making just one donation<\/span><span data-contrast=\"auto\">\u00a0to\u00a0<\/span><span data-contrast=\"auto\">the<\/span><span data-contrast=\"auto\">\u00a0DAF<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;134233279&quot;:true,&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p><\/blockquote>\n<p><span data-contrast=\"auto\">Giving shares after an IPO\u00a0<\/span><span data-contrast=\"auto\">offers<\/span><span data-contrast=\"auto\">\u00a0the advantage of price visibility<\/span><span data-contrast=\"auto\">, but trading could be volatile<\/span><span data-contrast=\"auto\">, and lock-up agreements, insider trading policies<\/span><span data-contrast=\"auto\">\u00a0and SEC restrictions may complicate or restrict the contribution of the shares post-IPO.\u00a0<\/span><span data-contrast=\"auto\">Share prices\u00a0<\/span><span data-contrast=\"auto\">also\u00a0<\/span><span data-contrast=\"auto\">may<\/span><span data-contrast=\"auto\">\u00a0drop after a lock-up\u2014generally a period of 90 to 180 days after an IPO when\u00a0<\/span><span data-contrast=\"auto\">company executives and\u00a0<\/span><span data-contrast=\"auto\">employees are<\/span><span data-contrast=\"auto\">\u00a0restricted from selling their shares<\/span><span data-contrast=\"auto\">. For instance, Facebook shares plunged by\u00a0<\/span><span data-contrast=\"auto\">about\u00a0<\/span><span data-contrast=\"auto\">50% from the IPO price on the day its lock-up ended.<\/span><span data-contrast=\"auto\">\u00a0<\/span><span data-contrast=\"auto\">If you<\/span><span data-contrast=\"auto\">r client<\/span><span data-contrast=\"auto\">\u00a0donate<\/span><span data-contrast=\"auto\">s<\/span><span data-contrast=\"auto\">\u00a0shares before the IPO<\/span><span data-contrast=\"auto\">\u00a0and\u00a0<\/span><span data-contrast=\"auto\">NPT\u00a0<\/span><span data-contrast=\"auto\">is able to<\/span><span data-contrast=\"auto\">\u00a0participate in the IPO,\u00a0<\/span><span data-contrast=\"auto\">you\u00a0<\/span><span data-contrast=\"auto\">remove<\/span><span data-contrast=\"auto\">\u00a0the price risk that comes with waiting\u00a0<\/span><span data-contrast=\"auto\">out a lock-up<\/span><span data-contrast=\"auto\">\u00a0period<\/span><span data-contrast=\"auto\">.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">The donor who gave pre-IPO shares of his tech company to NPT in the spring\u00a0<\/span><span data-contrast=\"auto\">participated<\/span><span data-contrast=\"auto\">\u00a0in the full upside of the event<\/span><span data-contrast=\"auto\">,\u00a0<\/span><span data-contrast=\"auto\">and now has nearly $10 million in his DAF to\u00a0<\/span><span data-contrast=\"auto\">grant\u00a0<\/span><span data-contrast=\"auto\">to<\/span><span data-contrast=\"auto\">\u00a0his\u00a0<\/span><span data-contrast=\"auto\">favorite causes and educational<\/span><span data-contrast=\"auto\">\u00a0institutions.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"auto\">If you are interested in learning more about donating pre-IPO shares, NPT can help<\/span><span data-contrast=\"auto\">.<\/span><span data-contrast=\"auto\">\u00a0Please\u00a0<\/span><a href=\"https:\/\/www.nptrust.org\/contact-us\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-contrast=\"none\">contact<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">us<\/span><\/a><span data-contrast=\"auto\">\u00a0at (888) 878-<\/span><span data-contrast=\"auto\">7900.<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p>NPT does not provide legal or tax advice. This blog post is for informational purposes only and is not intended to be, and shall not be relied upon as, legal or tax advice. The applicability of information contained here may vary depending on individual circumstances.<\/p>\n<p><strong>To download a PDF of this blog post, click below:<\/strong><\/p>\n<p><a href=\"https:\/\/www.nptrust.org\/wp-content\/uploads\/2019\/09\/DAF-Insights-for-Advisors-Donating-Pre-IPO-Shares-to-a-Donor-Advised-Fund.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3676 size-full\" src=\"https:\/\/www.nptrust.org\/wp-content\/uploads\/2019\/08\/button_download-pdf.png\" alt=\"\" width=\"174\" height=\"38\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jeff Gerold shares best practices for donating pre-IPO shares to a donor-advised fund to maximize charitable impact.<\/p>\n","protected":false},"author":4,"featured_media":3652,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_has_post_settings":[],"footnotes":""},"categories":[48,65,46,44,30],"tags":[],"hashtags":[],"class_list":["post-3751","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-alerts","category-daf-insights-for-advisors","category-donor-stories","category-news-for-donors","category-philanthropist"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Donating Pre-IPO Shares to a Donor-Advised Fund for Charitable Impact | NPTrust<\/title>\n<meta name=\"description\" content=\"Jeff Gerold shares best practices for donating pre-IPO shares to a donor-advised fund to maximize charitable impact.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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