GIFTS OF STOCK
A gift of stock has many advantages. For stock that has been held over one year and
has increased in value, there are two very attractive benefits. You can bypass the capital gain and receive a charitable deduction for the full value of the stock. We are then able to liquidate the stock and as a charity exempt from taxes, pay no gain tax on your gift.
And the income tax reduction will reduce your income taxes for the year. These tax savings could be 30%, 40% or even more. The capital gains savings will usually be from 20% to 25% for both federal and state taxes. The combined savings could equal 60% in some cases. For a gift of $10,000 of stock, the combined tax savings could be as much as $6,000.
To make your donation in the form of stock, simply supply your financial advisor or broker with the following delivery instructions for our investment account:
Depository Trust Company
New York DTC #2803
Agent Bank ID #26645
Firstar Bank N.A.
Account Number 19-J1570
Please contact Jill Branam at Johnson Investment Counsel Inc. with any questions. You may reach her at 513-661-3100 or via e-mail at jbranam@johnsoninv.com .
Then send an e-mail to Dick Devine at dick.devine@CCUniversity.edu and let him know the name of the stock and approximate value or shares that will be transferred. You may call him at 513-244-8131 with questions of any type.
