GIVING LONG-TERM APPRECIATED SECURITIES
IS AN EXCELLENT WAY TO SUPPORT
GLEE, GOOD HUMOUR, UNITY & JOY
REDUCE YOUR TAX BURDEN AT THE SAME TIME.
Donating appreciated securities that you have held for more than one year generates a charitable gift tax deduction based on the fair market value of the shares at the time of the transfer*—up to 30% of adjusted gross income. Plus, any unclaimed portion of the deduction may be carried forward for up to five additional years, subject to the same annual limit.
A gift of long-term appreciated securities may entitle you to a double tax benefit. Not only do you get a charitable gift deduction for the full market value of the stock (regardless of basis), you avoid capital gains tax on the amount that the stock has appreciated since you acquired it.
Because the donated shares have appreciated, the benefit of the gift to the Foundation may well be considerably greater than the cost to you.
For more information on transferring stock to the Foundation’s brokerage account, please call the Foundation office at 617.547.GLEE (4533). Foundation staff can provide you with the information you need as well as a copy of the “Agreement to Donate Publicly Listed Securities” form for your convenience.
* Important note on valuation: The date of your gift is the day the stock passes from your control. For gift crediting and accounting purposes, the value is the mean between the high and low quoted selling price of that day. Your gift will be acknowledged by the Foundation with the valuation of your gift. Please adhere to IRS regulations for your income tax filing purposes. Your broker will also be able to provide you with the precise value of your stock at time of transfer. Please consult your tax professional regarding the specifics of your particular situation.