Making a stock gift is easy and can be a great way to support Neighborhood House, meet your charitable giving goals, and maximize tax savings. Even if your stocks have lost value since you purchased them you can receive tax advantages. The key is in how you give the securities. Consult with your financial advisor and consider the following tips.
Giving depreciated stock or mutual funds
For stocks that have depreciated (lost value), you may consider selling them first and then donating the cash proceeds to Neighborhood House. This scenario allows the donor to benefit in two ways: both the loss of value deduction and the charitable deduction.
Giving appreciated stock or mutual funds
For stocks that have appreciated (increased in value), you may consider transferring the shares directly to Neighborhood House. When Neighborhood House receives the stocks, we immediately sell them and recognize the donor for the value on the day they were sold. This scenario allows the donor to receive a tax benefit by:
Avoiding capital gains on the profit gained, and
Receiving a full tax deduction for the fair market value of your gift.
Stock transfer instructions:
For gifts of appreciated securities, please provide your broker with the following information to facilitate the transfer of shares, please contact:
Broker: Peter Jackson, UBS Financial Services 612-371-5044
Please remind your broker to include your name, contact information, and any special instructions for use of the gift with your transfer. We also advise that you contact us with information about the type of stock and number of shares, as well as any special considerations you may have. Please direct information about your gift and any other questions to Karla Healey 651-789-3626 or Laura Minette 651-789-2572.