Do you own stock that’s increased in value since its purchase or have clients who do? If you or your clients have owned the stock for at least one year, there is a unique opportunity for philanthropy.
Why Donate Stock?
Many people find it attractive to support Friends of the Children - SF Bay Area through a gift of stock. When you contribute an appreciated security (such as publicly traded stock, bonds or mutual fund shares) that you have owned for more than one year to Friends SF, you will receive a charitable income tax deduction for its full market value. Even better, you will avoid any capital gains tax on the increase in value of the stock since you purchased it.
Seek Advise Prior to Donating
A gift of stock made before December 31 of a calendar year may reduce your tax burden for the year you give. Your financial advisor can explain the possible tax benefits depending on whether the stock has appreciated or lost value since the time you acquired it. If your stock has been held long-term but has decreased in value, it may be more advantageous for you to sell the stock and give cash to Friends SF.
Take the Next Steps
If you want to donate directly to our brokerage account here is the info:
Brokerage: Merrill Lynch
Account Name: FOTC - SF Bay Area
Account #: 31102868