Ways to Give - Appreciated Securities
Gifts of securities - stocks, bonds,
treasuries, and mutual funds that have increased in value can be a
way to make meaningful gifts that result in maximum tax savings.
When you give qualified property that you have owned for longer
than one year, you are entitled to an income tax deduction for the
full value of the asset, not just the amount you paid for it. And
you will never have to pay the capital gains tax that would be due
if you sold the asset. You may deduct gifts of appreciated assets
each year in amounts totaling up to 30% of your adjusted gross
income and can use any excess deduction in as many as five future
years.
If
your security is held in a brokerage account, please call or ask
your broker to contact us for electronic transfer instructions.
If you hold the stock certificate, mail it to
the University of Maine Foundation using the following procedure:
Please call the Foundation office
(1-800-982-8503) with any questions or for further instructions on
donating securities or transferring securities electronically to
the Foundation.
Be sure to keep acknowledgements and other
records of your gifts to assure that you can use your deductions.
This is especially important for gifts of $250 or more.
When giving securities, specific advice should
be obtained from your financial advisors. Additional time should
be allowed for completion of such gift transactions. The value of
a gift of publicly traded securities will be the average of the
high and low prices on the date the gift is completed.
The University of Maine Foundation has
professional giving officers ready to work with you and your
advisors. We may be reached Monday-Friday between the hours of 8
am and 5 pm by calling 1-800-982-8503 or via email at
umainefoundation@maine.edu.
When securities have decreased in value
If the value of your securities is less than
their original cost, it is usually better to sell them and make a
charitable gift using the cash proceeds. You may then be able to
claim tax benefits for both the capital loss and the charitable
gift, effectively deducting more than the current value of the
assets.
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