STOCK GIFTS
Why Give Stocks
If you’ve ever donated to a nonprofit, you’re probably familiar with cash giving — you write a check or make a credit card payment, and your money is put to work supporting the causes you love. But did you know that cash isn’t the only thing you can donate to charity?
Many donors are choosing to give shares of stock because it comes with some pretty big benefits.
Avoid Unnecessary Taxes
Donating stock allows you to avoid both capital gains and state income taxes that you would otherwise need to pay if you instead sold the stock to donate cash.
Charitable Deduction
Claim a charitable deduction for the current fair market value of their stock at the time of donation.
Wash-Sale Exemption
Donating stock also exempts you from the wash-sale rule, essentially allowing you to repurchase the stock for its current fair market value, reset your shares at a higher cost-basis, and maintain the composition of your portfolios.
How To Give Stocks
Step 1. Fill out the information below (click the button below).
Step 2. Gather the needed information below.
Step 3.
Submit a stock donation form to your broker (we would be happy to help).
That's it!
Please click the button to complete the form below to let us know about your gift. This helps us ensure your donation is properly credited and you receive a tax receipt. Some brokerages do not include your name with the transfer, so we may not know it’s from you unless you fill this out.
Stock Transfer Info
- Broker: Fidelity
- DTC Number: 0226
- Account Number: Z29955400
- Account Name: The Gathering Church
FAQs About Stock Giving
Q: How do I save on taxes by donating stock?
A: First, if you’ve owned your stock for more than a year and it’s gone up in value, you’ll avoid paying a capital gains tax. A capital gain is the difference in the price you paid for your shares and the price they’re valued at now. For example, if you donate Apple shares worth $500 and they were $100 when you bought them, you’d have a capital gain of $400. When you donate, you wouldn’t have to pay taxes on that $400, making your gift more valuable at no cost to you. Plus, you can take a charitable deduction for the current value of the stock, saving you even more when you file taxes this year.
--
Q: The stock market is going up, but it’s been a tumultuous year. Is it still a good time to donate stocks?
A: Yes, and now might be the best time to donate stocks. Even if the market is a bit up and down, trends can change at any moment. Donating stocks today ensures you can take advantage of these highs, and make a much larger impact.
--
Q: I’m convinced that donating stock is a great way to give, but I don’t want to lose my holdings.
A: After donating stock, you can buy the same stock again within the day. This means that your portfolio won’t change, you’ll reset your cost-basis for the shares, and still make a really impactful gift.
--
Q: If I want to write off this year’s gift on my tax return, when should I donate?
A: It’s important to make sure you give a stock that’s going up in value, so keep an eye on the stock market. However, for your gift to be eligible for this tax year, you’d need to transfer your stocks by December 31st
