Gifts of Stocks and Bonds
Donating appreciated securities, including stocks or bonds, is an easy and tax-effective way for you to make a gift to Answers in Genesis.
Benefits of Gifts of Stocks and Bonds
- Avoid paying capital gains tax on the sale of appreciated stock held for more than a year.
- Receive a charitable income tax deduction.
- Further our mission today.
How to Make a Gift of Stocks and Bonds
1. Inform Answers in Genesis of Your Stock Donation
Because our brokers often do not receive information about the donor or their intentions, it is important that you make us aware of a pending stock donation. We want to be able to thank you and properly apply the donation as you desire. Additionally, we want to provide you with the appropriate donation acknowledgement letter for tax purposes. To help us in that regard, please provide this information at the time of your donation. If you have any questions, you may contact Jim Hatton, our Chief Financial Officer, via email or phone 859-727-2222 x 411.
2. Contact Firm Where Stock Is Held to Make Transfer
Contact your broker, dealer firm, or bank where your securities are held. Some investment firms have the capability to request these transfers through an online account if you have one set up. Here is the necessary information to make a donation transfer of the securities to Answers in Genesis:
|Name of Receiving Firm:||RBC Correspondent Services|
|FBO:||Answers in Genesis|
|Tax ID Number:||33-0596423|
More on Gifts of Stocks and Bonds
There are special rules for valuing a gift of stock. The value of a charitable gift of stock is determined by taking the mean between the high and low stock price on the date of the gift. Mutual fund shares are valued using the closing price for the fund on the date of the gift.
If you have any questions about gifts of stocks and bonds, please contact us. We would be happy to assist you and answer any questions that you have.
By donating stock or other investment securities that you have held for more than a year, you can be eligible for a full market value tax-deduction while avoiding the capital gains tax on the appreciated value. Learn more and get instructions.
All gifts to Answers in Genesis, a 501(c)(3) non-profit organization, are tax deductible to the fullest extent allowed by law. Gifts given to a specific program will be used for that program unless we receive more contributions than can wisely be used for that program.