If you itemize your tax returns, gifts of securities entitle you to a federal income tax charitable deduction. In the case of appreciated securities, you may deduct the full fair market value of your gift once you have held onto the securities for at least one year. You are permitted to carry any unused deduction forward for up to five additional years. In addition, you will avoid paying capital gains tax on the stock you donated to ACLU Foundation of Massachusetts. But please check with your tax accountant regarding your individual tax situation.
Because electronic transfers are made without identifying the donor, please alert us in advance about the stock and number of shares you plan to give. You can do so by e-mailing email@example.com or calling our annual fund manager at 617-428-3170 ext 312. We have also changed our stock donation account and can provide the current stock transfer information when you contact us.
According to IRS regulations, the date of your gift corresponds to the date it arrives in our possession (for transfers from brokerage account to brokerage account).
How to make a gift of stock
Call the ACLU Foundation of Massachusetts, Inc. at (617) 482-3170 ext 328 or send us an email at firstname.lastname@example.org.