What do you mean I don’t have to write a check?
Published: May 5, 2014 by Kim Minton, VP of Development
Surprised? While gifts of cash are certainly valuable to any nonprofit year-round, we thought you might be interested to know you can make plans to connect with the people, organizations and passions that matter to you most by making a gift of stock. No cash outlay now and tax benefits later. Win-Win!
You may…
- Make a gift by using appreciated stocks and/or mutual fund shares you’ve held for more than one year.
- Claim a federal income tax charitable deduction for the full appreciated value of your securities (not the lesser amount you originally paid for them).
- Pay no capital gains tax on the transaction which means the after-tax cost is less than a gift of cash.
How do you take advantage of this option? It’s really quite simple:
- Since it’s likely your securities are in a brokerage account, they can be transferred electronically. Contact your broker who will then contact JCCF for instructions.
- If you physically hold the certificates, you may mail them, unsigned to us. Please contact your broker for any additional forms (i.e. a Stock Power form) which should be mailed separately.
So, see how easy it is? Your cash flow is not affected and the desire to give back to your community has been fulfilled! We suggest you consult with your broker and/or tax advisor prior to making any transactions, and contact us at time with your questions.
