Gifts of Financial Securities
Good stewardship includes wise planning. Wise planning allows people to give more to the Lord’s work without increasing their cost. Those who own securities and who want to make substantial gifts to CHIEF have a number of ways to help.
If you have long-term capital gain securities, there may be a way to give more to CHIEF at less cost. Tax law allows you to give appreciated securities and deduct the full market value as a charitable contribution. CHIEF can sell the securities without paying capital gains taxes.
For example, you own 100 shares of a growing corporation. You bought the shares at $15 per share many years ago. The market value is now about $62 per share. If you were to sell the shares, there would be a capital gain of $47 per share, or $4,700, which could be taxable. You could give the stock to CHIEF and deduct the entire $6,200. The capital gains tax “disappears” in the charitable organization’s tax-free status.
To get the tax treatment we have described, you must transfer the securities to us before they are sold.
If the securities are now worth less than you paid for them, the wise thing to do is sell the securities and give the cash. This allows you to claim the loss on your taxes and then to deduct the amount of the gift as a charitable deduction if you itemize.
It is fairly simple to make a gift of stock or give shares of a mutual fund. If interested, please see the directions below.
PROCEDURES TO TRANSFER SECURITIES TO CHIEF:
Stock Held in Certificate Form