It is possible to receive a bigger tax saving and make a bigger impact by directly donating appreciated securities to The Real News. We suggest you seek independent tax advice.
Here’s what The New York Community Trust
“Gifts of publicly-traded securities, particularly those that have been held for more than a year, can be a vehicle for making substantial contributions to charity while generating valuable tax deductions.
Many people mistakenly believe that all donations of appreciated securities are deductible at full fair market value, but in fact it is only long-term appreciated securities—those held longer than one year—that are eligible for a full deduction. For individuals who hold short-term appreciated securities, there is likely to be little meaningful tax difference between contributing the stock and donating the gross proceeds from a sale of the stock.
Long-Term Securities. When appreciated securities held for more than a year are donated ... the donor generally enjoys an income tax charitable deduction for the asset’s full fair market value and avoids tax on the capital gain. This is probably the best known and most widely used tax benefit for charitable gifts.”
How to donate securities:
Electronic Transfer: The fastest and easiest way to make a stock gift is to do an electronic transfer. Your broker will need the following information to do so:
Acct Name: Independent World Television, Inc (Tax ID: 01-0808098)
DTC #: 0443
Account #: AZD 840643
Brokerage: M&T Securities Inc
Mail: You can physically mail the unendorsed paper certificate and a signed stock power, separately, to the following address:
Independent World Television, Inc
Attn: Uruj Sheikh
231 Holliday Street
Baltimore, MD 21202
For questions about securities donations and to notify us of your gift, please contact Uruj Sheikh, Fundraising Campaign Manager, at firstname.lastname@example.org or call (201) 407-8670.
Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide tax advice. Please consult an independent financial advisor before any transaction.