Gifting Appreciated Stock to Charity
Donating appreciated stock can be better than giving cash! It is a cashless transaction that yields double tax benefits to you.
First, you receive an itemized deduction equal to the fair market value (FMV) of the stock. FMV is calculated as the high-low average of the stock price on the day you make the gift. The deduction is limited to 30% of your adjusted gross income (AGI). Any amount over the 30% AGI limitation can be carried forward for up to five years.
You’ll also avoid capital-gains taxes on the increase in value over time, which you would have had to pay if you sold the stock then gave the cash proceeds. This is for stock with a long-term holding period of more than one year. That is a savings of 20% capital gains tax and another 3.8% in net investment income tax.
Transfer of Stock
To transfer securities to The Ark Inc via electronic transfer Depository Trust Company (DTC), please use the following instructions:
Stifel Nicolaus & Company, Incorporated
Account Name: The Ark Inc
Account Number: 4145-6037
Firm: Stifel Nicolaus & Company, Incorporated
Firm Contact Person: Stifel Ruder Investment Group at (812)-475-9353
Tax ID: 35-1553918
Donor Name & Address: _______________________
In order to promptly and accurately credit a gift of security, it is essential that the DTC transfer instructions include your name and address. If you do not indicate a specific use for the gift, it is assumed to be unrestricted.
Please notify Angie Richards Cheek, Executive Director, at (812) 423-9425 or email@example.com of your pending stock transfer. If you have questions, please call Ark Crisis Child Care at 812-423-9425
Ark Crisis Child Care Center does not provide tax, legal, or financial advice.