When most people give to charity, they give cash. But did you know you can donate appreciated stock, bonds or mutual funds to Dare to Care Food Bank? It’s easier than you might think, and donating this way could save you money.
Donating stock, bonds or mutual funds is often better for you and for Dare to Care Food Bank. Current tax law permits donors to claim a deduction on the full fair market value of the property they are donating. This means you get to claim the securities full, appreciated value on your taxes as a deduction.
For comparison, if you were to sell your securities, receive the cash proceeds and then make a gift of the cash to Dare to Care Food Bank, you may be subject to taxes on the securities, if they have appreciated in value, and therefore have less remaining to donate and a smaller tax deduction.
As with any gift that involves your investments, please discuss your intentions with your trusted financial advisor.
If you have questions or need assistance regarding this matter, please contact Kate Chandler, Director of Major Gifts at 502.736.9416.