Typically, the giver is able to take the full market value of the securities as an itemized deduction on the date of the transfer. Using this method, the giver does not incur any tax on the gain represented by the difference between the cost and the current market value of the securities.
Giving appreciated stocks can be an advantageous way for you to invest in Little Lights.
Contact your broker and tell them to set up a transfer of stock as a gift to a non-profit.
Provide your broker with these details regarding Little Lights’ account at Schwab:
- DTC#: 0164 Code 40
Account #: 5673-9608
Brokerage routing #: 021000089
For the benefit of: Little Lights Urban Ministries
Please note that in order to accurately attribute the stock transfer to you, we will need you to send the following information to firstname.lastname@example.org:
- Your name and mailing address
Ticker symbol of the stock
Number of shares you are giving
Date the gift order was placed with your broker
For additional questions or to mail the requested contact details to us:
760 7th Street, SE
Washington, DC 20003
*For mutual fund shares please contact your broker for their instructions for giving.
**As with any stocks or securities-related transactions, be sure to consult your broker for details regarding how the transaction impacts your investment strategies.
***As with any tax-related transaction, be sure to consult your tax advisor for details regarding tax deductibility and how this transaction may impact your specific tax situation.