Donating Stocks, Bonds and Securities
By using stocks, bonds or other securities to fund a charitable gift to an organization like ICS, you may completely avoid the capital gains tax while enjoying a federal income tax deduction for the full value of the securities.
Donating Appreciated Securities:
For maximum tax benefits, it is usually best to give securities that have increased in value the most since you have owned them. It is also possible to make a gift with appreciated securities in a mutual fund.
Note: Most importantly, do not sell your stock first and then write us a check or transfer assets. Doing this will require payment of capital gains tax on the appreciation of your stock. The effective date of your gift is the day of transfer. The amount of your donation is the average between the high and low prices of the stock on the day of the donation.
Stock Transfer - It′s an easy 2-step process!
Step 1: Ask your broker to transfer assets to the Interfaith Community Services account. To transfer stock to Interfaith Community Services, please provide your broker with the following information:
Account Name: Interfaith Community Services
Address: 2820 W. Ina Road, Tucson, AZ 85741-2502
Account Number #: 3549-0998
Brokerage House: Wells Fargo Advisors LLC
Contact: Betsy McCabe, Financial Advisor, or Deenna Schunk-Peru, Financial Advisor, at 520-297-2521
DTC #: 0141
Step 2: Please inform April Schiller, Finance Director, at (520) 297-6049 ext. 210 or firstname.lastname@example.org or Deborah Carr, Philanthropy and Public Relations Director, at (520) 297-6049 ext. 222 or email@example.com to let us know that you plan to make the transfer. This is necessary so that we can credit the gift to you. We will immediately mail you a receipt for your tax purposes.
Donating Depreciated Stock: Have your stocks, bonds, or mutual funds declined in value? If so, you may find there is an advantage to selling the stock, bond or mutual fund, recognizing a loss, and then contributing the cash proceeds of the sale to Interfaith Community Services. Talk to your accountant or financial advisor about the best option for you.
For more information or to discuss giving options , please contact:
Deborah Carr, Philanthropy and Public Relations Director, (520) 297-6049 ext. 222.