Donating appreciated stocks, bonds, or mutual funds is quite easy and straightforward. And, giving appreciated securities to RAAC may yield significant tax benefits because you would:
- Pay no capital gains tax on the donated securities; and
- Receive an income tax deduction for the fair market value of the securities on the date of gift (no matter what you originally paid for them).
Before giving securities, consult with your financial advisor. Then let us know that your gift is coming to RAAC by contacting either:
- Sallie Morgan, RAAC Treasurer, at 540.987.8677 or email her at firstname.lastname@example.org or
- Matthew Black, RAAC President, at 540.987.9180 or email him at email@example.com.
If your securities are held by a broker we have a sample letter that you can use to inform your broker of what and when you’d like to make the transfer. You can download a PDF version by clicking here or a Word version by clicking here.
In the sample letter you:
- Provide your contact info, date, and your broker’s or bank’s contact info;
- Specify the number of shares of XYZ stock/bonds/mutual fund from your account to transfer;
- Use RAAC’s Schwab account info that’s already included in the sample letter.
Again, please notify RAAC before your transfer takes place so we can correctly identify your gift and acknowledge receipt of the transfer.
If you hold the actual stock certificates, you will need to sign a stock power form for each certificate you give to RAAC. Stock power forms are available from any broker or financial institution. Your signature on the stock power must be exactly the same at what appears on the certificate—including middle names and initials and any suffix.