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Donations: Gifts of Securities
Gifts of appreciated assets enable the donor to be charitable and
tax-savvy at the same time. In most cases, stock gifts provide an immediate tax
deduction based on the current market value of the asset and may also help
decrease or eliminate tax on the capital gain even though that "profit" is
counted as part of the donor's charitable deduction.
For example, Mary
bought ABC stock for $2,500 in 1990. Today the stock is worth $10,000, resulting
in a long-term capital gain of $7,500. By donating the $10,000 worth of stock to
the CFIDS Association of America, Mary receives a tax-deduction (usually the
full fair market value of the property if owned for more than one year) and also
avoids capital gains tax on the $7,500 appreciation of her stock.
To donate stocks,
bonds or mutual funds, instruct your broker to transfer the securities to the
CFIDS Association per the following information:
DTC Number |
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0141
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Brokerage Firm |
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Wells Fargo Advisors, LLC |
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Contact |
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Bailey Bartee, phone: 800-955-2522 or
704-552-7222 fax: 704-554-1426 |
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New Owner |
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The CFIDS Association of America,
Inc., PO Box 220398, Charlotte, NC 28222-0398 |
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Federal Tax ID |
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56-1683450 |
The CFIDS Association of America does
not
provide legal or financial advice and urges you to consult your attorney,
financial planner or accountant regarding specific tax and financial
implications of your charitable contributions.
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