Current tax laws make it
possible for you to make a gift of appreciated securities
to the Surfrider Foundation at remarkably low after-tax
cost. When you give appreciated property, you
not only receive a deduction for the full value of the
asset, but you also avoid the capital gains tax that
would have been due if you had sold the property. The
savings can be significant considering the combination
of federal capital gains tax and state income tax.
The treatment of capital gains varies from state
to state. Be sure to consult your tax advisor
regarding capital gains in your state.
It is important to remember that in order to maximize the tax benefit available to you the shares you wish to donate MUST be transferred to the Surfrider Foundation first, before they are sold. The value of your contribution is determined by the date on which the gift of shares is complete - typically the date of transfer – or whenever the shares are under the control of the Surfrider Foundation. The value of the gift is determined by averaging the high and low sales price per share on the date the transfer is completed and multiplying it by the number of shares transferred.
You can also contribute shares of a mutual fund. This typically takes a bit more time than a transfer of shares of stock but it is still an excellent way to make a gift of appreciated securities to the Surfrider Foundation. Generally, to donate shares of a mutual fund, you will be required to establish an account in the name of the Surfrider Foundation at the mutual fund company and then transfer the shares to this new account. As with stocks, the value of the contribution is determined by the date on which the shares come under the control of the Surfrider Foundation.
The Surfrider Foundation will also consider gifts of
bonds, restricted stocks, closely held stocks and/or
S Corporation stocks. However all of these will
be evaluated on a case by case basis.
For more information on donating securities and mutual
funds, please contact Steve Blank, Surfrider Foundation’s
Director of Development at 800-743-SURF x. 40 or info@surfrider.org
|
